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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
Chicago Bankruptcy Lawyer

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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Edwin P. Frick

Estate, Wrongful Termination, Criminal, Bankruptcy

Status: In Good Standing Licensed: 11 Years

CONTACT

6 E Main St, Sodus, NY 14551

James Patrick Ryan

Real Estate, International, Estate, Business

Status: In Good Standing Licensed: 20 Years

CONTACT

87 W Main St, Sodus, NY 14551

Richard William Youngman

Other, Government, Estate, Criminal

Status: In Good Standing Licensed: 50 Years

CONTACT

26 Church St, Lyons, NY 14489

John W. Gibbon

Real Estate, Estate, Divorce & Family Law, Criminal

Status: In Good Standing Licensed: 45 Years

CONTACT

Lyons, NY 14489

John Lindsay Grow

Estate, Divorce & Family Law, Civil & Human Rights, Bankruptcy

Status: In Good Standing Licensed: 31 Years

CONTACT

6431 State Route 21, Williamson, NY 14589

Cynthia Marie Katherine Kukuvka

Real Estate, Estate, Divorce & Family Law

Status: In Good Standing Licensed: 41 Years

CONTACT

54 Broad St, Lyons, NY 14489

Deborah Gerber Farber

Real Estate, Estate, Divorce & Family Law

Status: In Good Standing Licensed: 48 Years

CONTACT

54 Broad St, Lyons, NY 14489

Arthur Bennett Williams

Real Estate, Government, Estate

Status: In Good Standing Licensed: 43 Years

CONTACT

165 E Union St, Newark, NY 14513

Victor B. Chambers

Criminal, Divorce & Family Law, Estate, Criminal

Status: In Good Standing Licensed: 54 Years

CONTACT

105 Maple Ct, Newark, NY 14513

Pamela J. Gardner

Real Estate, Estate, Business

Status: In Good Standing Licensed: 43 Years

CONTACT

330 East Ave, Newark, NY 14513

800-923-0641

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LEGAL TERMS

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

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.

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.

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.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

MINERAL RIGHTS

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

In 1986 Markatos Realtors, Inc. (hereinafter Markatos), Rutger's immediate predecessor in interest, along with Brookside Park Properties, Inc., the defendant's predecessor in interest, executed a written indenture providing, among other things, for mutual easements designating 12 ...

Colasacco v. Robert E. Lawrence Real Estate

In October 2002 the defendant Christopher DiCorato, a real estate agent employed by the defendant Robert E. Lawrence Real Estate (hereinafter Lawrence, and hereinafter together the defendants), met with the plaintiffs and showed them a parcel of vacant property that was ...

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

In any event, plaintiff fails, as a matter of law, to demonstrate any injury for which it is entitled to hold defendant sponsors liable. Although the purchase agreement obligated defendant sponsors to provide plaintiff with a building and unit constructed "in a good and workman-like ...

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Alton Estate Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Edwin P. Frick

James Patrick Ryan

Richard William Youngman

John W. Gibbon

John Lindsay Grow

Cynthia Marie Katherine Kukuvka

Deborah Gerber Farber

Arthur Bennett Williams

Victor B. Chambers

Pamela J. Gardner

TIPS

LEGAL TERMS

DISCHARGE (OF PROBATE ADMINISTRATOR)

FAILURE OF ISSUE

GENERATION-SKIPPING TRUST

GENERATION-SKIPPING TRANSFER TAX

ADEMPTION

GRANT DEED

HEIR APPARENT

MINERAL RIGHTS

CONTINGENT BENEFICIARY

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

Colasacco v. Robert E. Lawrence Real Estate

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

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