Orland Park Estate Planning Lawyer, Illinois, page 3

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Abraham Michelson
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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: Gift Taxation

Margaret Ann O'sullivan

Other, Lawsuit & Dispute, Government, Estate Planning

Status: In Good Standing Licensed: 28 Years

CONTACT

10723 W 159Th St, Orland Park, IL 60467

Margaret O'sullivan

Other, Lawsuit & Dispute, Government, Estate Planning

Status: In Good Standing Licensed: 28 Years

CONTACT

10723 W 159Th St, Orland Park, IL 60467

Michael Shannon Delaney

Nursing Home, Estate Planning, Estate, Elder Law

Status: In Good Standing Licensed: 26 Years

CONTACT

14524 John Humphrey Dr, Orland Park, IL 60462

Michael Delaney

Nursing Home, Wills & Probate, Estate Planning, Elder Law

Status: In Good Standing Licensed: 26 Years

CONTACT

14524 John Humphrey Dr, Orland Park, IL 60462

Joseph John Walczak

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

Status: In Good Standing Licensed: 37 Years

CONTACT

14045 S 88Th Ave, Orland Park, IL 60462

Joseph Walczak

Wills & Probate, Estate Planning, Divorce & Family Law, Elder Law

Status: In Good Standing Licensed: 37 Years

CONTACT

14045 S 88Th Ave, Orland Park, IL 60462

Donald Christopher Bailey

Real Estate, Estate Planning, Estate, Personal Injury

Status: In Good Standing Licensed: 46 Years

CONTACT

14756 S Woodcrest Ave, Lockport, IL 60491

Harry De Bruyn

Dispute Resolution, Social Security, Estate Planning, Medical Malpractice

Status: In Good Standing Licensed: 70 Years

CONTACT

15252 Harlem Ave, Orland Park, IL 60462

Stephen Wells Taylor

Wills & Probate, Estate Planning, Estate, Transactions

Status: In Good Standing Licensed: 49 Years

CONTACT

15252 Harlem Ave, Orland Park, IL 60462

Arkadiusz Smigielski

Divorce & Family Law, Criminal, Business & Trade, Estate Planning

Status: In Good Standing Licensed: 37 Years

CONTACT

13010 W. 159th St., Homer Glen, IL 60491

800-923-0641

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LEGAL TERMS

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

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.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

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.

PRETERMITTED HEIR

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'

POWER OF APPOINTMENT

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

SAMPLE LEGAL CASES

Dunn v. Patterson

... for them. The circuit court of Will County entered judgment on the pleadings, finding, as a matter of law, that provisions in certain estate planning documents prepared by defendant were contrary to public policy and void. The ...

Fitch v. McDermott, Will and Emery, LLP

... Around the same time, defendants Joseph Dietrich and John Dietrich (hereafter the Dietrichs), both certified public accountants, provided financial and accounting services for estate planning purposes to Victoria and her husband, plaintiff Thomas Fitch. ...

In re Estate of Henry

... Accordingly, the estate petitioned the court to allow the estate to execute estate planning documents for Henry which, it contended, were consistent with his known wishes and which would be "free from the taint of the undue influence and fraud which was assembled upon the ...

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Orland Park Estate Planning Lawyer, Illinois, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Margaret Ann O'sullivan

Margaret O'sullivan

Michael Shannon Delaney

Michael Delaney

Joseph John Walczak

Joseph Walczak

Donald Christopher Bailey

Harry De Bruyn

Stephen Wells Taylor

Arkadiusz Smigielski

TIPS

LEGAL TERMS

REAL ESTATE AGENT

SPRINKLING TRUST

GENERATION-SKIPPING TRANSFER TAX

TESTAMENTARY TRUST

PROVING A WILL

QTIP TRUST

PRETERMITTED HEIR

POWER OF APPOINTMENT

QDOT TRUST

SAMPLE LEGAL CASES

Dunn v. Patterson

Fitch v. McDermott, Will and Emery, LLP

In re Estate of Henry

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