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Abraham Michelson
About | Practice Areas
The Michelson Law Office
203 North Lasalle Street Suite 2100 Chicago, IL 60601Â» view map
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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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Includes: Estate Administration, Living Wills, Wills

Perry Callas

Wills & Probate, Estate Planning, Merger & Acquisition, Corporate

Status: In Good Standing

CONTACT

5412 Route 31, Crystal Lake, IL 60012

Scott Summers

Business & Trade, Estate Planning, Wills & Probate

Status: In Good Standing Licensed: 39 Years

CONTACT

Harvard, IL 60033

Angela Thuma

Wills & Probate, Estate, Adoption, Divorce & Family Law

Status: In Good Standing Licensed: 29 Years

CONTACT

101 N Throop St, Woodstock, IL 60098

Tom Rausch

Land Use & Zoning, Wills & Probate, Personal Injury, Medical Malpractice

Status: In Good Standing Licensed: 49 Years

CONTACT

101 South Benton Street, Woodstock, IL 60098

Lawrence Edward Rafferty

Commercial Real Estate, Real Estate, Wills & Probate, Transactions

Status: In Good Standing Licensed: 43 Years

CONTACT

551 N Sharon Dr, Woodstock, IL 60098

Norman Pollock

Wills & Probate, Estate Planning, DUI-DWI, Personal Injury

Status: In Good Standing Licensed: 59 Years

CONTACT

100 W Washington St, Marengo, IL 60152

Terrence J McKenna

Real Estate, Wills & Probate, Workers' Compensation, Personal Injury

Status: In Good Standing

FREE CONSULTATION

CONTACT

19333 East Grant Highway, Marengo, IL 60152

John J. Murray

Wills & Probate, Insurance

Status: In Good Standing Licensed: 20 Years

CONTACT

5414 Hill Road, Richmond, IL 60071

Scott William Brammer

Consumer Bankruptcy, Residential Real Estate, Wills, Bankruptcy

Status: In Good Standing Licensed: 33 Years

CONTACT

5447 W. Bull Valley Road, Mchenry, IL 60050

Andrew Holstine

Wills & Probate, Estate Planning, Business & Trade, Business

Status: In Good Standing Licensed: 24 Years

CONTACT

50 Virginia Street, Crystal Lake, IL 60014

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.

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

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).

DISTRIBUTEE

(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (ca... (more...)

(1) Anyone who receives something. Usually, the term refers to someone who inherits a deceased person's property. If the deceased person dies without a will (called intestate), state law determines what each distributee will receive. Also called a beneficiary.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

SAMPLE LEGAL CASES

In re Estate of Ellis

... Bauman was the pastor of the church of which Ellis was a member. When Ellis died in 2003, the 1999 will was admitted to probate. ... The circuit court of Cook County dismissed all counts as untimely pursuant to section 8-1 of the Probate Act of 1975 (755 ILCS 5/8-1 (West 2006)). ...

Wackrow v. Niemi

... James Woods died in August 2002. Letters of office were issued and Woods' will was admitted to probate on October 23, 2002. ... The estate did not deliver the property or the $300,000 to plaintiff. On October 24, 2003, the probate court denied plaintiff's claim against the estate. ...

In re Estate of Feinberg

... freedom. The Probate Act places only two limits on the ability of a testator to choose the objects of his bounty. ... desire. Under the Probate Act, Max and Erla had no obligation to make any provision at all for their grandchildren. ...

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Harvard Wills & Probate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Perry Callas

Scott Summers

Angela Thuma

Tom Rausch

Lawrence Edward Rafferty

Norman Pollock

Terrence J McKenna

John J. Murray

Scott William Brammer

Andrew Holstine

TIPS

LEGAL TERMS

AB TRUST

REMAINDERMAN

SPECIAL ADMINISTRATOR

LIFE BENEFICIARY

GRANTOR RETAINED INCOME TRUST

DISTRIBUTEE

CHARITABLE TRUST

INHERITANCE TAXES

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

SAMPLE LEGAL CASES

In re Estate of Ellis

Wackrow v. Niemi

In re Estate of Feinberg

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