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Marco  Chayet Lawyer

Marco Chayet

VERIFIED
Estate, Trusts, Elder Law, Wills & Probate, Medicare & Medicaid

During law school, Mr. Chayet's grandmother, Letty Milstein, was the principle party in one of the most controversial and public elder law cases in th... (more)

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800-295-7850

Saxton Steceban Hudson Lawyer

Saxton Steceban Hudson

VERIFIED
Criminal, Traffic, Business, Entertainment, Wills
303-955-8677

Founded in 1997, we are a boutique law firm focused on serving private individual clients, and small businesses. The central part of our mission is to... (more)

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CONTACT

800-814-6930

David Anthony Simmental Lawyer

David Anthony Simmental

VERIFIED
Real Estate, Commercial Real Estate, Wills, Elder Law, International Other

David earned his Bachelor's Degree (B.A.) from the University of Texas at Austin in 1976, with a major in History. He earned Juris Doctorate Degree (... (more)

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CONTACT

800-973-8660

Aaron D. Frishman

Wills & Probate, Government Agencies, Wills, Trusts
Status:  In Good Standing           
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Eric Paul Ruderman

Family Law, Wills & Probate, Wills, Divorce
Status:  In Good Standing           

Kristin S. Otero

Banking & Finance, Estate Planning, Wills & Probate, Real Estate
Status:  In Good Standing           

Katrina S. Jones

Wills & Probate, Estate Planning, Pension & Benefits
Status:  In Good Standing           

Frank J Danzo

Landlord-Tenant, Wills & Probate, Trusts, Estate Planning
Status:  In Good Standing           

Arlene S. Barringer

Estate, Wills & Probate, Trusts, Elder Law
Status:  In Good Standing           

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LuAnn Ott Jilot

Social Security -- Disability, Wills & Probate, Bad Faith Insurance, Construction
Status:  In Good Standing           

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LEGAL TERMS

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)
A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

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).

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)
For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)
A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

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.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)
A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

SAMPLE LEGAL CASES

Foiles v. Whittman

... 699 II. Facts and Procedural History. This case is a consolidated action involving a civil suit and several probate matters. ... As a result, the probate court appointed a special administrator for Mr. Whittman's estate, who was substituted as a party in the civil action. ...

Pierce v. Francis

... On May 21, 2007, the probate court, concluding that the decedent lacked the requisite testamentary capacity and that the second will resulted from undue influence, denied probate of that will. The probate court then admitted ...

Schwartz v. Schwartz

... the declaratory judgment action filed to determine the validity of the antenuptial agreement because resolution of that action will have a practical legal effect upon an existing controversy — namely, it will impact Norman Schwartz's recovery in the ongoing probate proceeding. ...