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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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800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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George M. Bradshaw

Estate Planning, Corporate, Business Organization, Banking & Finance

Status: In Good Standing Licensed: 53 Years

CONTACT

1755 S. Naperville Road, Wheaton, IL 60189

Craig Westfall

Estate Planning, Transactions, Business & Trade, Banking & Finance

Status: In Good Standing Licensed: 49 Years

CONTACT

1793 Bloomingdale Road, Glendale Heights, IL 60139

Craig Charles Westfall

Real Estate, Trusts, Elder Law, Personal Injury

Status: In Good Standing Licensed: 49 Years

CONTACT

1793 Bloomingdale Road, Glendale Heights, IL 60139

Timothy John Klein

Federal Appellate Practice, Trusts, Corporate, Contract

Status: In Good Standing Licensed: 43 Years

CONTACT

290 Springfield Dr, Bloomingdale, IL 60108

Robert Allan Mcnees

Estate Planning, Civil Rights, Transactions, Business

Status: In Good Standing Licensed: 47 Years

CONTACT

195 Hiawatha Dr, Bloomingdale, IL 60188

Robert Mcnees

Estate Planning, Civil Rights, Transactions, Business

Status: In Good Standing Licensed: 47 Years

CONTACT

195 Hiawatha Dr, Bloomingdale, IL 60188

Lora Matthews Fausett

Landlord-Tenant, Social Security, Estate Planning, Transactions

Status: In Good Standing Licensed: 31 Years

CONTACT

568 Pennsylvania Avenue, Glen Ellyn, IL 60137

Lora Ann Matthews Fausett

Commercial Real Estate, Landlord-Tenant, Wills, Business & Trade, Real Estate Other

Status: In Good Standing Licensed: 32 Years

CONTACT

568 Pennsylvania Ave, Glen Ellyn, IL 60137

Charles Glenn Wentworth

State Appellate Practice, Estate Planning, Civil Rights, Business

Status: In Good Standing

CONTACT

536 Crescent Blve, Glen Ellyn, IL 60137

Donald Whittaker

Estate Planning, Transactions, Wills & Probate, Estate

Status: In Good Standing Licensed: 46 Years

CONTACT

370 S. Schmale Rd., Carol Stream, IL 60188

800-923-0641

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LEGAL TERMS

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.

CONSERVATOR

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of th... (more...)

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of the estate.' One who takes care of personal matters, such as healthcare and living arrangements, is known as a 'conservator of the person.' Sometimes, one conservator is appointed to handle all these tasks. Depending on where you live, a conservator may also be called a guardian, committee or curator.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

RESIDUARY BENEFICIARY

A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)

A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

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.

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.

ADMINISTRATRIX

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

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.

SAMPLE LEGAL CASES

In re Estate of Feinberg

This case involves a dispute among the surviving children and grandchildren of Max and Erla Feinberg regarding the validity of a trust provision. The circuit court of Cook County found the trust provision unenforceable on the basis that it is contrary to the public policy of the state ...

In re Estate of Feinberg

In re ESTATE OF Max FEINBERG, Deceased (Leila R. Taylor, as Independent Coexecutor of the Will of Max Feinberg, Deceased, Plaintiff-Appellant, v. Michael B. Feinberg, Individually and as Coexecutor of the Will of Max Feinberg, Deceased; Fifth Third Bank, as Trustee under ...

In re Estate of Ellis

Grace Ellis executed a will in 1964 naming Shriners Hospitals for Children (Shriners) as beneficiary of her estate if she died without direct descendants. In 1999, she executed a new will naming James G. Bauman as sole beneficiary. Bauman was the pastor of the church of which ...

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Glendale Heights Estate Lawyer, Illinois, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

George M. Bradshaw

Craig Westfall

Craig Charles Westfall

Timothy John Klein

Robert Allan Mcnees

Robert Mcnees

Lora Matthews Fausett

Lora Ann Matthews Fausett

Charles Glenn Wentworth

Donald Whittaker

TIPS

LEGAL TERMS

AB TRUST

CONSERVATOR

WARRANTY DEED

RESIDUARY BENEFICIARY

INTER VIVOS TRUST

GENERATION-SKIPPING TRANSFER TAX

FAMILY ALLOWANCE

ADMINISTRATRIX

TRUST DEED

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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