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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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Martin C. Kelley

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

Heritage Bank Building, 1535 West Schaumburg Road, Schaumburg, IL 60194

John Harbst

Intellectual Property, Estate Planning

Status: In Good Standing Licensed: 40 Years

CONTACT

1180 Litchfield Ln, Bartlett, IL 60103

John Harbst

Intellectual Property, Estate Planning

Status: In Good Standing Licensed: 40 Years

CONTACT

1180 Litchfield Ln, Bartlett, IL 60103

Russel G. Robinson

Estate, Corporate, Contract, Business

Status: In Good Standing Licensed: 42 Years

CONTACT

2800 W Higgins Rd, Hoffman Estates, IL 60169

John P. Kelley

Business Organization, Estate Planning, Family Law, Wills & Probate

Status: In Good Standing

CONTACT

1535 W Schaumburg Rd, Schaumburg, IL 60194

Rachael Price

Divorce & Family Law, Estate Planning, Wills & Probate

Status: In Good Standing Licensed: 18 Years

CONTACT

7n750 Illinois Route 59, Bartlett, IL 60103

David J. Finn

Traffic, Estate Planning, DUI-DWI, Personal Injury

Status: In Good Standing Licensed: 37 Years

CONTACT

33 W Higgins Rd, Barrington, IL 60010

David Finn

Traffic, Estate Planning, DUI-DWI, Personal Injury

Status: In Good Standing Licensed: 37 Years

CONTACT

33 W Higgins Rd, Barrington, IL 60010

Scott Zambo

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

Status: In Good Standing Licensed: 18 Years

CONTACT

1535 West Road, Schaumburg, IL 60194

Scott Christopher Zambo

Intellectual Property, Estate Planning, Criminal, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

1535 West Road, Schaumburg, IL 60194

800-923-0641

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LEGAL TERMS

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.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

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.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

ADMINISTRATRIX

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

INVESTOR

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.

CERTIFICATION OF TRUST

See abstract of trust.

CREDIT SHELTER TRUST

See AB trust.

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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Streamwood Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Martin C. Kelley

John Harbst

John Harbst

Russel G. Robinson

John P. Kelley

Rachael Price

David J. Finn

David Finn

Scott Zambo

Scott Christopher Zambo

TIPS

LEGAL TERMS

QTIP TRUST

INVENTORY

AB TRUST

DEVISEE

ADMINISTRATRIX

ESTATE TAXES

INVESTOR

CERTIFICATION OF TRUST

CREDIT SHELTER TRUST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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