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Abraham Michelson
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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
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Elisha Wellerstein

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Estate, Elder Law, Trusts, Wills & Probate, Estate Planning

Elisha is the founding principal of Wellerstein Law Group, P.C. With his years of experience as an accountant and business consultant, Elisha is able ... (more)

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380 Hempstead Ave, West Hempstead, NY 11552

Laura G Grossman

Estate Planning, Real Estate, Trusts, Wills

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600 Old Country Road, Room 519, Garden City, NY 11530

Robert Abrams

Trusts, Estate Planning, Estate, Elder Law

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1111 Marcus Avenue, New Hyde Park, NY 11042

Massimo A. Santoli

International, Trusts, Estate Planning, Estate

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1010 Northern Blvd., Great Neck, NY 11021

Arfa Mahmud

Estate Planning, Trusts

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1010 Northern Blvd., Great Neck, NY 11021

Marie Elena R. Puma

Real Estate, Trusts, Estate Planning, Elder Law

Status: Licensed: 33 Years

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100 Quentin Roosevelt Blvd, Garden City, NY 11530

Mary Ann Catalano

Trusts, Estate, Employment, Reorganization

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1122 Franklin Ave, Garden City, NY 11530

Kenneth P. Mahon

Wills, Trusts, Estate

Status: Licensed: 39 Years

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254 Nassau Blvd, Garden City, NY 11530

Allison Tenenbaum

Corporate, Trusts

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333 Earle Ovington Boulevard, Uniondale, NY 11553

Jennifer Pupo Santangelo

Litigation, Trusts, Estate, Elder Law

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LEGAL TERMS

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

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.'

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.

KINDRED

Under some state's probate codes, all relatives of a deceased person.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

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.

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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Williston Park Trusts Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Elisha Wellerstein

Laura G Grossman

Robert Abrams

Massimo A. Santoli

Arfa Mahmud

Marie Elena R. Puma

Mary Ann Catalano

Kenneth P. Mahon

Allison Tenenbaum

Jennifer Pupo Santangelo

TIPS

LEGAL TERMS

LIFE BENEFICIARY

DEVISEE

ADEMPTION

SPECIFIC BEQUEST

INCOMPETENCE

AB TRUST

KINDRED

INTESTATE

RESIDUARY BENEFICIARY

SAMPLE LEGAL CASES

Tzolis v. Wolff

IN THE MATTER OF DE SANCHEZ

Matter of Mergenhagen

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