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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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Includes: Gift Taxation

Don R. Herrling

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

Status: In Good Standing

FREE CONSULTATION

CONTACT

800 N. Lynndale Drive, Appleton, WI 54914

Roger W. Clark

Personal Injury, Divorce & Family Law, Estate Planning, Business

Status: In Good Standing

FREE CONSULTATION

CONTACT

800 N. Lynndale Drive, Appleton, WI 54914

Michael R. McCanna

Arbitration, Corporate, Environmental Law, Estate Planning

Status: In Good Standing

CONTACT

47 Park Place, Appleton, WI 54912

Steven D. Shambeau

Commercial Real Estate, Corporate, Family Law, Estate Planning

Status: In Good Standing Licensed: 49 Years

CONTACT

204 S Main St, Waupaca, WI 54981

Richard E. Bollenbeck

Estate Planning, Family Law, DUI-DWI, Criminal

Status: In Good Standing Licensed: 40 Years

CONTACT

W6260 Communication Ct, Appleton, WI 54914

Michael R. McCanna

Arbitration, Corporate, Environmental Law, Estate Planning

Status: Inactive Licensed: 50 Years

CONTACT

4 Bittersweet Ct, Appleton, WI 54914

Michael J. Lauterbach

Power of Attorney, Litigation, Estate Planning, Civil & Human Rights, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

2417A Post Road, Stevens Point, WI 54481

Charles J. Hartzheim

Real Estate, Wills & Probate, Estate Planning, Corporate

Status: In Good Standing Licensed: 58 Years

CONTACT

800 N Lynndale Drive, Appleton, WI 54914

Elizabeth M. Ryan-Panzer

Farms, Divorce, Estate Planning, Family Law

Status: In Good Standing Licensed: 20 Years

CONTACT

600 E Northland Avenue, Appleton, WI 54911

Gina Vollmer

Foreclosure, Estate Planning, Banking & Finance, Collection

Status: In Good Standing

CONTACT

100 West Lawrence Street, Appleton, WI 54911

800-923-0641

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LEGAL TERMS

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.

PROBATE

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.

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).

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

BANKRUPTCY ESTATE

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankrup... (more...)

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.

MINERAL RIGHTS

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.

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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Caroline Estate Planning Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Don R. Herrling

Roger W. Clark

Michael R. McCanna

Steven D. Shambeau

Richard E. Bollenbeck

Michael R. McCanna

Michael J. Lauterbach

Charles J. Hartzheim

Elizabeth M. Ryan-Panzer

Gina Vollmer

TIPS

LEGAL TERMS

ABATEMENT

PROBATE

GRANTOR RETAINED INCOME TRUST

PROVING A WILL

ENTITY

LIVING TRUST

BANKRUPTCY ESTATE

MINERAL RIGHTS

AB TRUST

SAMPLE LEGAL CASES

Tensfeldt v. Haberman

IN THE ESTATE OF DERZON

IN RE THE ESTATE OF HECK

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