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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
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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D. Peter Seguin

Bankruptcy, Corporate, Estate Planning, Wills & Probate, Estate

Status: In Good Standing

CONTACT

110 Second Street, Hudson, WI 54016

Maxfield E. (Max) Neuhaus

Estate, Real Estate, Business

Status: In Good Standing

CONTACT

219 N Main St, River Falls, WI 54022

Robert Leo Loberg

Commercial Real Estate, Litigation, Wills & Probate, Banking & Finance, Slip & Fall Accident

Status: In Good Standing Licensed: 48 Years

CONTACT

359 W. Main, Ellsworth, WI 54011

Hugh H. Gwin

Real Estate, Estate Planning

Status: In Good Standing Licensed: 51 Years

CONTACT

706 19Th St S, Hudson, WI 54016

800-923-0641

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LEGAL TERMS

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.

TESTAMENTARY TRUST

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

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

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.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

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Prescott Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

D. Peter Seguin

Maxfield E. (Max) Neuhaus

Robert Leo Loberg

Hugh H. Gwin

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LEGAL TERMS

INHERITANCE TAXES

TESTAMENTARY TRUST

GRANTOR

DISINHERIT

POUR-OVER WILL

ADMINISTRATION (OF AN ESTATE)

TRUST MERGER

TRUST DEED

TRUSTEE

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