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Abraham Michelson
About | Practice Areas
The Michelson Law Office
203 North Lasalle Street Suite 2100 Chicago, IL 60601Â» view map
Bankruptcy, Chapter 7, Chapter 13
Chicago Bankruptcy Lawyer

When your finances are at stake, choose the best. Don't sink deeper in debt. Contact The Michelson Law Office

800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
  Our legal team can advise you on your options for negotiating a solution.
3. Practice AreasServices
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Christopher M. Miller

Criminal, Estate Planning, Family Law, Insurance

Status: In Good Standing

CONTACT

1111 East Sumner Street, Hartford, WI 53027

John V. Burns

Estate Planning, Family Law, Criminal, Bankruptcy

Status: In Good Standing

CONTACT

1111 East Sumner Street, Hartford, WI 53027

Rex Brian Beatty

Income Tax, Corporate Tax, Tax, Gift Taxation

Status: In Good Standing Licensed: 45 Years

CONTACT

397 N5966 Autumn Wood, Oconomowoc, WI 53066

John Allen Caucutt

Real Estate, Estate, Family Law, Child Custody

Status: In Good Standing Licensed: 29 Years

CONTACT

105 E Wisconsin Ave, Oconomowoc, WI 53066

Susan Herro

Estate, Juvenile Law, Guardianships & Conservatorships, Adoption

Status: In Good Standing Licensed: 39 Years

CONTACT

156 E Wisconsin Ave, Oconomowoc, WI 53066

G William Chapman

Estate

Status: Inactive Licensed: 68 Years

CONTACT

156 E Wisconsin Ave, Oconomowoc, WI 53066

Charles J. Herro

Real Estate, Estate Planning, Corporate, Wills & Probate

Status: Inactive Licensed: 75 Years

CONTACT

156 E Wisconsin Ave, Oconomowoc, WI 53066

Robert C. Hultquist

Commercial Real Estate, Trusts, Elder Law, Business

Status: In Good Standing Licensed: 67 Years

CONTACT

N52 W35495 Lake Dr, Oconomowoc, WI 53066

Sandra J. Zenor

Estate, Divorce & Family Law, Criminal, Accident & Injury

Status: In Good Standing Licensed: 39 Years

CONTACT

N8202 County Road E., Watertown, WI 53094

Joe Hentz

Divorce & Family Law, Estate, Real Estate

Status: In Good Standing Licensed: 11 Years

CONTACT

1300 Summit Ave, Oconomowoc, WI 53066

800-923-0641

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LEGAL TERMS

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.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

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.

PUBLISHED WORK

An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public o... (more...)

An original work of authorship that is considered published for purposes of copyright law. A work is 'published' when it is first made available to the public on an unrestricted basis. It is thus possible to display a work, or distribute it with restrictions on disclosure of its contents, without actually 'publishing' it. Both published and unpublished works are entitled to copyright protection, but some of the rules differ.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

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.

PREDECEASED SPOUSE

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

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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.

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Ashippun Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Christopher M. Miller

John V. Burns

Rex Brian Beatty

John Allen Caucutt

Susan Herro

G William Chapman

Charles J. Herro

Robert C. Hultquist

Sandra J. Zenor

Joe Hentz

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LEGAL TERMS

GENERATION-SKIPPING TRANSFER TAX

GRANT DEED

STATUTORY SHARE

PUBLISHED WORK

TRUSTEE POWERS

SWEARING MATCH

PREDECEASED SPOUSE

ABATEMENT

AB TRUST

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