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It has always been my dream to be an attorney and help families. Graduating in the top ten of my high school class, I studied my first two years at Qu... (more)

Tracie Molinaro

Real Estate, Mediation, Estate, Family Law, Divorce
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Norma Arel Pierce

Real Estate, Trusts, Family Law, Wills & Probate
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Kathleen Mary Cerrone

Administrative Law, Civil Rights, Estate Planning, Federal Appellate Practice
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Stephen J Adams

Real Estate, Wills & Probate, Business Organization, Personal Injury, Divorce & Family Law
Status:  In Good Standing           Licensed:  38 Years

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LEGAL TERMS

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)
Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)
An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)
A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

FUNDING A TRUST

Transferring ownership of property to a trust.

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.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

SAMPLE LEGAL CASES

WE 470 MURDOCK, LLC v. Cosmos Real Estate, LLC

958 A.2d 1248 (2008). 289 Conn. 938. WE 470 MURDOCK, LLC v. COSMOS REAL ESTATE, LLC, et al. Supreme Court of Connecticut. Decided October 3, 2008. Sabato P. Fiano, in support of the petition. Melvin A. Simon, Hartford, in opposition. ...

WE 470 MURDOCK, LLC v. Cosmos Real Estate

The following facts and procedural history are relevant to our resolution of the plaintiff's appeal. The defendant is a limited liability corporation formed by Dina Begetis, Pagioti Begetis and Efrosene Begetis, all of whom are daughters of Asimina Begetis. On March 1, 2004, ...

Caltabiano v. L AND L REAL ESTATE HOLDINGS

The following facts and procedural history are relevant to the resolution of the plaintiffs' appeal. Cumberland Farms, 1260 Inc., is the owner of commercial property located at 1211-1223 Boston Post Road, within the commercial town center district of Westbrook. The Dohnna, ...