Otto Wills & Probate Lawyer, New York

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Includes: Estate Administration, Living Wills, Wills

Donna Marie Hartnett

Residential Real Estate, Wills & Probate, Estate Planning
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  28 Years

Kyle Calabrese

Wills & Probate, Divorce, DUI-DWI, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Michael Schiavone

International Tax, Entertainment, Wills & Probate, Corporate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Andrew David Brautigam

Traffic, Wills & Probate, Workers' Compensation, Criminal, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Lanny R. Sheffield

Residential Real Estate, Real Estate, Wills, Estate Planning
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  48 Years

Kenneth Morton Lasker

Landlord-Tenant, Real Estate, Wills & Probate, Car Accident, Personal Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  38 Years

Eric Michael Firkel

Real Estate, Lawsuit & Dispute, Industry Specialties, Estate, Wills & Probate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  14 Years

Frederick Albin Larson

Real Estate, Personal Injury, Wills & Probate, Trusts
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  48 Years

Jason C. Luna

Wills & Probate, Accident & Injury
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  25 Years

Michael A. Wargula

Medicare & Medicaid, Wills, Estate, Elder Law
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  46 Years

Free Help: Use This Form or Call 800-814-6700

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800-943-8690

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LEGAL TERMS

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)
A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

PUBLIC ADMINISTRATOR

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to t... (more...)
Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to the state. Some states have public administrators who are responsible for temporarily preserving the assets of an estate if there are disputes about specific provisions in the will or about who will be appointed the regular administrator.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)
Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

RESIDUARY BENEFICIARY

A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)
A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.

CERTIFICATION OF TRUST

See abstract of trust.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

SAMPLE LEGAL CASES

Matter of Colverd

... Spain, J. 972 Decedent died in 2000. Thereafter, petitioner—decedent's unmarried companion of nearly 30 years—commenced this proceeding in Surrogate's Court, as named executor, seeking probate of decedent's will. Three ...

MTR OF AMERICAN COMM. v. Dunn

... This appeal requires us to determine the standard applicable to a petition to vacate a probate decree brought by a nonparty to an initial probate proceeding and based upon "newlydiscovered evidence," which allegedly demonstrates that a probated will was procured through ...

Matter of Paigo

... Decedent died in June 2006 and petitioner sought to probate the will. ... Petitioner then moved for summary judgment 838 seeking dismissal of the objections and admitting the will to probate. Concluding that issues of fact existed, Surrogate's Court denied the motion. ...

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