Sonyea Estate Planning Lawyer, New York, page 2

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Robert Klipstein
About | Practice Areas
Ballon Stoll PC
810 7th Ave Suite 405 New York, NY 10019» view map
Immigration Law
Counselors At Law

Founded in 1931 and built upon a tradition of excellence, Ballon Stoll P.C. is a mid-sized full-service law firm catering to the needs of businesses and individuals alike.

212.575.7900
1. Robert Klipstein New York, NY
  Attorney at Law, NY
  Columbia University Law School, J.D. 1960
2. AboutBallon Stoll PC
  Counselors At Law
3. Practice AreasExpertise
  Immigration
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2. Email
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Includes: Gift Taxation

Kimberly J. Campbell

Federal Appellate Practice, Estate Planning, Administrative Law, Personal Injury

Status: Inactive

CONTACT

2 State St, Rochester, NY 14614

Joseph Callahan

International Tax, Wills & Probate, Business, Estate Planning

Status: In Good Standing

CONTACT

510 Clinton Square, Rochester, NY 14604

Terrance W Emmens

Medicare & Medicaid, Estate Planning, Estate, Elder Law

Status: In Good Standing Licensed: 32 Years

CONTACT

130 E Main St, Rochester, NY 14604

Eugene Vanvoorhis

Land Use & Zoning, Wills & Probate, Estate Planning, Estate

Status: In Good Standing

CONTACT

300 Linden Oaks, Rochester, NY 14625

Kelly Lyn Odorisi

Trusts, Estate Planning, Elder Law

Status: In Good Standing Licensed: 28 Years

CONTACT

1170 East Avenue, Rochester, NY 14607

Cecily Fuhr

Wills, Estate Planning, Employment Discrimination, Civil Rights

Status: In Good Standing Licensed: 21 Years

CONTACT

5 Rundel Park, Rochester, NY 14607

Stanley Arthur Gordon

Commercial Real Estate, Estate Administration, Estate Planning, Corporate

Status: In Good Standing Licensed: 61 Years

CONTACT

2 State Street, Rochester, NY 14614

Daniel Herbert Overbeck

Advertising, Trusts, Estate Planning, Estate

Status: In Good Standing Licensed: 50 Years

CONTACT

300 Bausch And Lomb Pl, Rochester, NY 14604

Rachel Brody Bandych

Mediation, Estate Planning, Elder Law, Civil & Human Rights

Status: In Good Standing Licensed: 37 Years

CONTACT

300 Bausch & Lomb Place, Rochester, NY 14604

Raymond S. DiRaddo

Estate Planning, Family Law, Criminal, Bankruptcy

Status: In Good Standing Licensed: 47 Years

CONTACT

31 Erie Canal Dr, Rochester, NY 14626

800-923-0641

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LEGAL TERMS

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

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.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

LETTERS TESTAMENTARY

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

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.

SAMPLE LEGAL CASES

Schneider v. Finmann

... maintain an action for legal malpractice. We now reverse and reinstate plaintiff's claim. Strict privity, as applied in the context of estate planning malpractice actions, is a minority rule in the United States. [1] In New York, a third ...

Fielding v. Kupferman

... The documents at issue in Bishop were estate planning instruments executed by the plaintiff who believed that he was giving his wife a life estate and was not limiting his access to his life savings (Bishop, 33 AD3d 497, 501 [2006], affd 9 NY3d 910 [2007]). ...

Kram Knarf, LLC v. Djonovic

... The client's malpractice complaint was silent as to how the attorneys misled him, what they failed to explain to him concerning the estate planning documents he executed, and which of his instructions those documents did not reflect (33 AD3d at 498-499). ...

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Sonyea Estate Planning Lawyer, New York, page 2

Sponsored Law Firm

Ballon Stoll PC

SPONSORED LAWYERS

Kimberly J. Campbell

Joseph Callahan

Terrance W Emmens

Eugene Vanvoorhis

Kelly Lyn Odorisi

Cecily Fuhr

Stanley Arthur Gordon

Daniel Herbert Overbeck

Rachel Brody Bandych

Raymond S. DiRaddo

TIPS

LEGAL TERMS

TRUSTEE POWERS

AB TRUST

CONTINGENT BENEFICIARY

TRUSTEE

LETTERS TESTAMENTARY

PROBATE COURT

QDOT TRUST

BYPASS TRUST

LAPSE

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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