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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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Susan H. Schleisner

Estate, Divorce & Family Law, Civil & Human Rights, Business

Status: In Good Standing Licensed: 34 Years

CONTACT

104 Washington St, Elkhart Lake, WI 53020

Dorothy Frances Henson

Energy, Trusts, Estate, Administrative Law

Status: Inactive Licensed: 46 Years

CONTACT

9207 N Lake Dr, Manitowoc, WI 54220

Lawrence V. Salutz

Estate Planning, Commercial Real Estate, Wills & Probate

Status: In Good Standing Licensed: 71 Years

CONTACT

823 Marshall St, Manitowoc, WI 54221

John P. Buran

Real Estate, Immigration, Estate, Divorce & Family Law, Landlord-Tenant

Status: In Good Standing Licensed: 34 Years

CONTACT

1115 S Ninth St, Manitowoc, WI 54220

Trent R. Nelson

Business, Real Estate, Estate, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

927 S 8Th St, Manitowoc, WI 54220

Terence P. Fox

Estate, Real Estate, Corporate

Status: In Good Standing Licensed: 40 Years

CONTACT

927A S 8Th St, Manitowoc, WI 54221

John M. Cashman

Estate, Divorce & Family Law, Civil & Human Rights

Status: In Good Standing Licensed: 50 Years

CONTACT

1509 Torrison Drive, Manitowoc, WI 54220

Jeffrey P. Patterson

Landlord-Tenant, Real Estate, Estate

Status: In Good Standing Licensed: 43 Years

CONTACT

812 E State St, Manitowoc, WI 54220

David A. Van De Water

Commercial Real Estate, Estate Planning, Personal Injury

Status: In Good Standing Licensed: 39 Years

CONTACT

802 Michigan Avenue, Sheboygan, WI 53081

David Vandewater

Tax, Estate, Business, Accident & Injury

Status: In Good Standing Licensed: 39 Years

CONTACT

802 Michigan Avenue, Sheboygan, WI 53081

800-923-0641

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LEGAL TERMS

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.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property 'per stirpes,' Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

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.

SUCCESSION

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.

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.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

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.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).

Kiel Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Susan H. Schleisner

Dorothy Frances Henson

Lawrence V. Salutz

John P. Buran

Trent R. Nelson

Terence P. Fox

John M. Cashman

Jeffrey P. Patterson

David A. Van De Water

David Vandewater

TIPS

LEGAL TERMS

TRUST DEED

PER STIRPES

STATUTORY SHARE

SUCCESSION

PROBATE

CONTINGENT BENEFICIARY

REMAINDERMAN

PER CAPITA

MARITAL LIFE ESTATE TRUST

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