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1. Abraham Michelson Chicago, IL
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  Thomas Cooley, JD, 2004
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John Bernard Kelly

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Estate, Real Estate, Wills, Trusts, Business

John Kelly is a practicing lawyer in the state of New York handling Real Estate and Estate matters.

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914-694-2822

4 W Red Oak Ln, West Harrison, NY 10604

William Maker

Estate Planning, Land Use & Zoning, Wills, Trusts

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2180 Boston Post Road, Larchmont, NY 10538

Gary Rikoon

Banking & Finance, Wills & Probate, Wills, Trusts

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2180 Boston Post Road, Larchmont, NY 10538

Arthur E. Olmstead

Elder Law, Wills & Probate, Trusts, Wills

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14 Mamaroneck Avenue, White Plains, NY 10601

Lori J. Perlman

Wills & Probate, Estate Planning, Wills, Trusts

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One Blue Hill Plaza, Pearl River, NY 10965

Silvia Maria Metrena

Real Estate, Wills, Contract, Trusts

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20 S. Broadway, Yonkers, NY 10701

Debra A. Arena

Real Estate, Wills, Trusts, Estate

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111 Kraft Avenue, Bronxville, NY 10708

Susan B. Slater-Jansen

Estate, Estate Planning, Trusts, Wills & Probate

Status: Licensed: 44 Years

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399 Knollwood Road, White Plains, NY 10603

Regina Kelly

Real Estate, Lawsuit & Dispute, Trusts, Divorce & Family Law

Status: Licensed: 42 Years

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99 Court St, White Plains, NY 10601

Daniel Paul Romano

Commercial Real Estate, Trusts, Estate Planning, Estate

Status: Licensed: 38 Years

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100 S Broadway, Yonkers, NY 10701

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LEGAL TERMS

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.

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.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

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.

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.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

TAKING AGAINST THE WILL

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property.... (more...)

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property. The surviving spouse can take that share instead of accepting whatever he or she inherited through the deceased spouse's will. If the surviving spouse decides to take the statutory share, it's called 'taking against the will.' Dower and curtesy is another name for the same legal process.

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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Yonkers Trusts Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Bernard Kelly

William Maker

Gary Rikoon

Arthur E. Olmstead

Lori J. Perlman

Silvia Maria Metrena

Debra A. Arena

Susan B. Slater-Jansen

Regina Kelly

Daniel Paul Romano

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LEGAL TERMS

SPECIFIC BEQUEST

TRUSTEE

SPRINKLING TRUST

DISCHARGE (OF PROBATE ADMINISTRATOR)

FINAL BENEFICIARY

PER STIRPES

AB TRUST

POUR-OVER WILL

TAKING AGAINST THE WILL

SAMPLE LEGAL CASES

Tzolis v. Wolff

IN THE MATTER OF DE SANCHEZ

Matter of Mergenhagen

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