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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.
3. Practice AreasServices
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Mathew Roy Patrick Perrone

Real Estate, Patent, Copyright, Estate Planning

Status: In Good Standing

FREE CONSULTATION

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210 South Main Street, Algonquin, IL 60102

Joseph Gottemoller

Land Use & Zoning, Real Estate, Estate Planning, Family Law

Status: In Good Standing

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1 North Virginia Street, Crystal Lake, IL 60014

Perry Callas

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

Status: In Good Standing

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5412 Route 31, Crystal Lake, IL 60012

Karen Lavin

Estate Planning, Family Law, Divorce, Divorce & Family Law

Status: In Good Standing

FREE CONSULTATION

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850 South McHenry Ave, Ste B, Crystal Lake, IL 60014

Troy Conway Owens

Intellectual Property, Estate Planning, Civil Rights, Business

Status: In Good Standing

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9 Crystal Lake Road, Lake In The Hills, IL 60156

Nelson s. Anthony

Trusts, Lawsuit, Employment Discrimination, Bad Faith Insurance

Status: In Good Standing Licensed: 46 Years

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14274 Flagstaff Ct., Huntley, IL 60142

Terrence J McKenna

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

Status: In Good Standing

FREE CONSULTATION

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19333 East Grant Highway, Marengo, IL 60152

Timothy J. Clifton

Traffic, Estate Planning, Divorce, DUI-DWI

Status: In Good Standing

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50 N Virginia St, Crystal Lake, IL 60014

Jeffrey Edward Schulze

Estate, Divorce, Criminal, Business

Status: In Good Standing

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1142 N Main St, Barrington, IL 60102

Jeffrey Schulze

Estate, Divorce, Criminal, Business

Status: In Good Standing

CONTACT

1142 N Main St, Barrington, IL 60102

800-923-0641

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LEGAL TERMS

CREDIT SHELTER TRUST

See AB trust.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

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.

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.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

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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Mchenry County, IL Estate Lawyers

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mathew Roy Patrick Perrone

Joseph Gottemoller

Perry Callas

Karen Lavin

Troy Conway Owens

Nelson s. Anthony

Terrence J McKenna

Timothy J. Clifton

Jeffrey Edward Schulze

Jeffrey Schulze

TIPS

LEGAL TERMS

CREDIT SHELTER TRUST

ADEMPTION

STATUTORY SHARE

GROSS ESTATE

GRANT DEED

QTIP TRUST

SWEARING MATCH

PREDECEASED SPOUSE

LAPSE

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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