Willowbrook Estate Planning Lawyer, Illinois

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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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Includes: Gift Taxation

Daniel Joseph Mccarthy

Estate Planning, Estate, Business & Trade, Business

Status: In Good Standing Licensed: 28 Years

CONTACT

835 Mcclintock Dr, Willowbrook, IL 60527

William James Cotter

International Tax, Estate Planning, Transactions, Business

Status: In Good Standing Licensed: 46 Years

CONTACT

835 Mcclintock Dr, Willowbrook, IL 60527

James Lawrence Reese

Immigration, Municipal, Estate Planning, Estate

Status: In Good Standing Licensed: 57 Years

CONTACT

15W030 N. Frontage Road, Willowbrook, IL 60527

Jennifer Moses

Estate, Estate Planning, Transactions, Criminal

Status: In Good Standing Licensed: 20 Years

CONTACT

15W030 North Frontage Rd, Willowbrook, IL 60527

Louise T Walsh

Intellectual Property, Elder Law, Estate Planning, Estate

Status: In Good Standing Licensed: 40 Years

CONTACT

120 S Lasalle St, Chicago, IL 60603

Nora Hurley Marsh

Commercial Real Estate, Trusts, Estate Planning, Elder Law

Status: In Good Standing

CONTACT

200 S Frontage Rd, Willowbrook, IL 60527

Valerie A. Varney

Real Estate, International Tax, Estate Planning, Transactions

Status: In Good Standing Licensed: 31 Years

CONTACT

7420 S County Line Rd, Willowbrook, IL 60527

Valerie Varney

Tax, Business & Trade, Estate Planning, Corporate

Status: In Good Standing Licensed: 31 Years

CONTACT

7420 S County Line Rd, Willowbrook, IL 60527

Noreen Costelloe

Commercial Real Estate, Estate Planning, Transactions, Car Accident

Status: In Good Standing Licensed: 40 Years

CONTACT

7420 S County Line Rd, Willowbrook, IL 60527

James Bebawy

Real Estate, Immigration, Estate Planning, Estate

Status: In Good Standing Licensed: 12 Years

CONTACT

621 W. Plainfield Road, Willowbrook, IL 60527

800-923-0641

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LEGAL TERMS

FAMILY POT TRUST

See pot trust.

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.

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.

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.

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.

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.

RULE AGAINST PERPETUITIES

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.

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.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

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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Willowbrook Estate Planning Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Daniel Joseph Mccarthy

William James Cotter

James Lawrence Reese

Jennifer Moses

Louise T Walsh

Nora Hurley Marsh

Valerie A. Varney

Valerie Varney

Noreen Costelloe

James Bebawy

TIPS

LEGAL TERMS

FAMILY POT TRUST

ESTATE TAXES

ADMINISTRATION (OF AN ESTATE)

PROBATE

TRUSTEE

PROVING A WILL

RULE AGAINST PERPETUITIES

SPRINKLING TRUST

SPECIFIC BEQUEST

SAMPLE LEGAL CASES

Dunn v. Patterson

Fitch v. McDermott, Will and Emery, LLP

In re Estate of Henry

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