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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
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David A Roach

Real Estate, Trusts, Estate Planning, Personal Injury

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115 Green Street, Kingston, NY 12401

Ephie D. Trataros

Commercial Real Estate, Trusts, Estate Planning, Elder Law

Status: In Good Standing Licensed: 31 Years

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Ephie Trataros

Trusts, Family Law, Divorce & Family Law, Elder Law

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70 Maiden Ln, Kingston, NY 12401

Jay W. Swanson

International Tax, Trusts, Estate Planning, Estate

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356 Union Street, Hudson, NY 12534

Pamela Drugge Rusk

Wills, Trusts, Estate Planning, Estate, Elder Law

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255 Fair St, Kingston, NY 12401

Patricia Lee Ellison

General Practice

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175 Clinton Ave, Kingston, NY 12402

Stephanie Michelle Whidden

Real Estate, Lawsuit & Dispute, Trusts, Estate

Status: In Good Standing Licensed: 40 Years

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West Hurley, NY 12491

Stephen W. Dunn

Landlord-Tenant, Litigation, Trusts, Civil Rights

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235 Robinson St, Hudson, NY 12534

Theodore Guterman

Education, Tax, Trusts, Estate Planning

Status: In Good Standing Licensed: 53 Years

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21 N 7Th St, Hudson, NY 12534

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LEGAL TERMS

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

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.

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

POWER OF APPOINTMENT

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

SAMPLE LEGAL CASES

Tzolis v. Wolff

... Chancellor Walworth applied to a joint stock corporation â€” then a fairly new kind of entity â€” a familiar principle of the law of trusts: that a beneficiary (or "cestui que trust") could bring suit on behalf of a trust when a faithless trustee refused to do so. ...

IN THE MATTER OF DE SANCHEZ

... In 1927, two years before the Great Depression, Elizabeth Laurent de Sanchez, whose family owned a sugar plantation in Cuba, set up seven inter vivos trusts for the benefit of her six childrenâ€”Emilio (two trusts in his name), Jorge, Julio, Marcelo, Maria and Gabriela. ...

Matter of Mergenhagen

... as appealed from is unanimously reversed on the law without costs, 1487 the petitions are granted in part, the termination of trust dated October 10, 1994 is vacated, respondent David M. Mergenhagen is removed as trustee from the 1991 and 1994 irrevocable trusts, he is ...

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Palenville Trusts Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

David A Roach

Ephie D. Trataros

Ephie Trataros

Jay W. Swanson

Pamela Drugge Rusk

Patricia Lee Ellison

Stephanie Michelle Whidden

Stephen W. Dunn

Theodore Guterman

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LEGAL TERMS

INTER VIVOS TRUST

SUCCESSOR TRUSTEE

AB TRUST

SPRINKLING TRUST

GENERATION-SKIPPING TRANSFER TAX

DISCHARGE (OF PROBATE ADMINISTRATOR)

INCOMPETENCE

POWER OF APPOINTMENT

ADMINISTRATION (OF AN ESTATE)

SAMPLE LEGAL CASES

Tzolis v. Wolff

IN THE MATTER OF DE SANCHEZ

Matter of Mergenhagen

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