Washington Estate Planning Lawyer, District of Columbia, page 3

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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

David W. Powell

International Other, International, Gift Taxation, Employment

Status: In Good Standing Licensed: 42 Years

CONTACT

1701 Pennsylvania Ave Nw, Washington, DC 20006

Nathan Paul Wacker

Tax, Litigation, Gift Taxation

Status: In Good Standing Licensed: 14 Years

CONTACT

1440 New York Ave Nw, Washington, DC 20005

Katherine Amanda Long

Gift Taxation, Tax

Status: In Good Standing Licensed: 10 Years

CONTACT

1440 New York Ave Nw, Washington, DC 20005

Phillip Lee Mann

Lawsuit & Dispute, International, Gift Taxation, Employment

Status: Deceased Licensed: 62 Years

CONTACT

900 16Th Street Nw, Washington, DC 20006

Lawrence B. Gibbs

Lawsuit & Dispute, International, Gift Taxation, Clean Air Practice

Status: In Good Standing Licensed: 61 Years

CONTACT

900 16Th Street Nw, Washington, DC 20006

Earl M. Colson

Tax, Estate Planning, Commercial Real Estate

Status: In Good Standing Licensed: 68 Years

CONTACT

1717 K Street Nw, Washington, DC 20006

Daniel Miller

International, Gift Taxation, Tax

Status: In Good Standing Licensed: 50 Years

CONTACT

1050 Connecticut Ave Nw, Washington, DC 20036

Edward M. Statland

Arbitration, Estate Planning, Business, Securities Regulation

Status: In Good Standing

CONTACT

1828 L Street, N.W., Washington, DC 20036

Daniel H. Crowley

Administrative Law, Power of Attorney, Estate Planning, Guardianships & Conservatorships

Status: Deceased

CONTACT

1710 Rhode Island Avenue Nw, Washington, DC 20036

Marc Spitzer

Tax, Industry Specialties, State Government, Gift Taxation

Status: In Good Standing Licensed: 42 Years

CONTACT

1330 Connecticut Avenue Nw, Washington, DC 20036

800-923-0641

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LEGAL TERMS

PRETERMITTED HEIR

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'

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.

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.

NET ESTATE

The value of all property owned at death less liabilities or debts.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

RULE AGAINST PERPETUITIES

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

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.

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.

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 3

Sponsored Law Firm

Price Benowitz LLP

SPONSORED LAWYERS

David W. Powell

Nathan Paul Wacker

Katherine Amanda Long

Phillip Lee Mann

Lawrence B. Gibbs

Earl M. Colson

Daniel Miller

Edward M. Statland

Daniel H. Crowley

Marc Spitzer

TIPS

LEGAL TERMS

PRETERMITTED HEIR

QDOT TRUST

GENERATION-SKIPPING TRANSFER TAX

NET ESTATE

SWEARING MATCH

RULE AGAINST PERPETUITIES

PREDECEASED SPOUSE

AB TRUST

PER STIRPES

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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