Washington Estate Planning Lawyer, District of Columbia, page 2

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Seth Price
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Price Benowitz LLP
409 7Th St Nw Suite 200 Washington, DC 20004Â» view map
Estate Law
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Our firm was built on the understanding that comprehensive representation does not begin and end in the courtroom.

202-600-9400
1. Seth Price Washington, DC
  Attorney at Law- DC, 1996
  George Washington University Law School
2. AboutPrice Benowitz LLP
  Working Relentlessly for You
3. Practice AreasExpertise
  Estate Law
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Includes: Gift Taxation

Kathleen Kibler Mahoney

Bankruptcy, Criminal, Estate Planning, Family Law

Status: In Good Standing

CONTACT

1906 Sunderland Place, NW, Washington, DC 20036

Schantell Comegys

Dispute Resolution, Social Security -- Disability, Estate Planning, Consumer Protection, Medical Malpractice

CONTACT

1155 F Street Nw, Washington, DC 20004

Theresa L. Lewis

Estate Planning, Family Law, Litigation, Real Estate

Status: In Good Standing Licensed: 12 Years

CONTACT

850 10Th St Nw, Washington, DC 20001

Lisa Milot

Tax, Estate Planning, Business Organization, Business

Status: In Good Standing Licensed: 22 Years

CONTACT

1717 K St Nw, Washington, DC 20006

Laurie Pyne O'Reilly

Real Estate, Estate Planning, Family Law, Bankruptcy

Status: In Good Standing

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4301 Connecticut Avenue Nw, Washington, DC 20008

Karen Kendrick Brown

Tax, Public Finance, Estate Planning, Partnerships

Status: In Good Standing Licensed: 21 Years

CONTACT

1750 K St Nw, Washington, DC 20006

John D Bates

Corporate Tax, International Tax, Federal, Estate Planning

Status: In Good Standing Licensed: 17 Years

CONTACT

555 12Th Street Nw, Washington, DC 20004

Howard A. Wenig

Federal Trial Practice, Federal Appellate Practice, Estate Planning, Corporate

Status: In Good Standing Licensed: 44 Years

CONTACT

1281 Owen Pl Ne, Washington, DC 20002

Eric R. Fox

Corporate Tax, International Tax, Estate Planning, Partnerships

Status: In Good Standing Licensed: 61 Years

CONTACT

1717 K St Nw, Washington, DC 20006

Chuba Babatunde Abaelu

Gift Taxation, Personal Injury

Status: Retired Licensed: 23 Years

CONTACT

2607 Virginia Ave Nw, Washington, DC 20037

800-923-0641

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LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property 'per stirpes,' Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

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.'

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

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.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

SAMPLE LEGAL CASES

Smith v. Wells Fargo Bank

... 38, 733 NE2d 713, 714-15 (2000) (noting that estate planning recommendation was that mother make inter vivos gifts to her daughter to "minimize death taxes on her estate when she passed away and to maximize the value of assets that [the daughter] would receive upon [the ...

Gomez v. Independence Mgmt. of Delaware, Inc.

... "The conveyance directed by Mr. Fairbairn to a de facto wholly owned corporation was effectuated for no purpose other than to legitimately limit Mr. Fairbairn's liability and to simplify his future estate planning." Id. at 1141 (footnote omitted). ...

WATERSIDE TOWERS RESIDENT v. TRILON PLAZA

2 A.3d 1084 (2010). WATERSIDE TOWERS RESIDENT ASSOCIATION INC., et al., Appellants, v. TRILON PLAZA COMPANY, et al., Appellees. Nos. 06-CV-903, 08-CV-163. District of Columbia Court of Appeals. Argued February 25, 2009. Decided August 26, 2010. ...

Washington Estate Planning Lawyer, District of Columbia, page 2

Sponsored Law Firm

Price Benowitz LLP

SPONSORED LAWYERS

Kathleen Kibler Mahoney

Schantell Comegys

Theresa L. Lewis

Lisa Milot

Laurie Pyne O'Reilly

Karen Kendrick Brown

John D Bates

Howard A. Wenig

Eric R. Fox

Chuba Babatunde Abaelu

TIPS

LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

PER STIRPES

STATUTORY SHARE

GENERATION-SKIPPING TRANSFER TAX

BEQUEATH

SELF-PROVING WILL

RESIDUARY BENEFICIARY

CERTIFICATION OF TRUST

ENDOWMENT INSURANCE

SAMPLE LEGAL CASES

Smith v. Wells Fargo Bank

Gomez v. Independence Mgmt. of Delaware, Inc.

WATERSIDE TOWERS RESIDENT v. TRILON PLAZA

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