Gile Estate Planning Lawyer, Wisconsin

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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
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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.
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Includes: Gift Taxation

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John R. Carlson

Estate, Real Estate

Status: In Good Standing Licensed: 20 Years

CONTACT

122 W Bayfield St, Washburn, WI 54891

Ryan Long

Real Estate, Estate Planning, Elder Law

Status: In Good Standing Licensed: 12 Years

CONTACT

522 Chapple Ave, Ashland, WI 54806

Richard Lavigne

Wills & Probate, Business, State Appellate Practice, Estate Planning

Status: In Good Standing

CONTACT

Ashland, WI 54806

Paul A. Sturgul

Estate, Government

Status: In Good Standing Licensed: 51 Years

CONTACT

504 Poplar Street, Hurley, WI 54534

Richard N. Molchan

Elder Law, Trusts, Federal, Business

Status: In Good Standing Licensed: 68 Years

CONTACT

11655 Crab Bay Rd, Presque Isle, WI 54557

Alex Mohrbacher

Divorce & Family Law, Estate, Property Damage, Business, Tax

Status: In Good Standing

CONTACT

404 Main St W, Ashland, WI 54806

Kenneth W. Ryder

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

Status: In Good Standing

FREE CONSULTATION

CONTACT

200 Chapple Ave, Ashland, WI 54806

Denise E. Ciebien

Lawsuit & Dispute, Government, Estate

Status: In Good Standing Licensed: 30 Years

CONTACT

317 West Main Street, Ashland, WI 54806

Scott A. Reinhard

Lawsuit & Dispute, Estate, Divorce & Family Law, Criminal

Status: In Good Standing

CONTACT

170 4th Ave N, Park Falls, WI 54552

Jack A. Carlson

Commercial Real Estate, Litigation, Wills & Probate, Family Law

Status: In Good Standing Licensed: 49 Years

CONTACT

122 W Bayfield St, Washburn, WI 54891

800-923-0641

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LEGAL TERMS

NET ESTATE

The value of all property owned at death less liabilities or debts.

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.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

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).

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

IN TERROREM

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement... (more...)

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.

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.

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Gile Estate Planning Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John R. Carlson

Ryan Long

Richard Lavigne

Paul A. Sturgul

Richard N. Molchan

Alex Mohrbacher

Kenneth W. Ryder

Denise E. Ciebien

Scott A. Reinhard

Jack A. Carlson

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LEGAL TERMS

NET ESTATE

PUBLISHED WORK

FAMILY ALLOWANCE

OFFICER

GRANTOR RETAINED INCOME TRUST

SPENDTHRIFT TRUST

IN TERROREM

GROSS ESTATE

EXEMPTION TRUST

SAMPLE LEGAL CASES

Tensfeldt v. Haberman

IN THE ESTATE OF DERZON

IN RE THE ESTATE OF HECK

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