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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.
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Douglas Viel Moliterno

Real Estate, Estate, Business

Status: In Good Standing Licensed: 14 Years

CONTACT

136 Main St, Amagansett, NY 11930

Michael D. Angiulo

Estate, Civil & Human Rights

Status: In Good Standing Licensed: 45 Years

CONTACT

514 Pantigo Rd, East Hampton, NY 11937

Rudolph J. Fusco

Wills & Probate, Estate

Status: In Good Standing Licensed: 19 Years

CONTACT

132 N Main St, East Hampton, NY 11937

Alice Gail Cooley

Traffic, Immigration, Trusts, DUI-DWI

Status: In Good Standing

CONTACT

241 Pantigo Rd, East Hampton, NY 11937

Thomas J. Osborne

Real Estate, Estate, Business

Status: In Good Standing Licensed: 41 Years

CONTACT

135 Main St, East Hampton, NY 11937

James H. Fischer

Real Estate Other, Immigration, Wills & Probate

Status: Suspended Licensed: 32 Years

CONTACT

68 N Main St, East Hampton, NY 11937

Robert H. Siegel

Estate, Real Estate

Status: In Good Standing Licensed: 70 Years

CONTACT

East Hampton, NY 11937

Robert Clark Osborne

Real Estate, Estate, Business

Status: In Good Standing Licensed: 71 Years

CONTACT

East Hampton, NY 11937

Stuyvesant Wainwright

Real Estate, Estate, Business

Status: In Good Standing Licensed: 30 Years

CONTACT

10 Pantigo Rd, East Hampton, NY 11937

Lynn Nancy Ryan

Estate, Civil & Human Rights, Business

Status: In Good Standing Licensed: 28 Years

CONTACT

8 Bowling Green Pl, East Hampton, NY 11937

800-923-0641

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LEGAL TERMS

TESTAMENTARY TRUST

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

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

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.

FAILURE OF ISSUE

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

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

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.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

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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Amagansett Estate Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Douglas Viel Moliterno

Michael D. Angiulo

Rudolph J. Fusco

Alice Gail Cooley

Thomas J. Osborne

James H. Fischer

Robert H. Siegel

Robert Clark Osborne

Stuyvesant Wainwright

Lynn Nancy Ryan

TIPS

LEGAL TERMS

TESTAMENTARY TRUST

REMAINDERMAN

AB TRUST

FAILURE OF ISSUE

NONPROBATE

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

SPECIAL ADMINISTRATOR

CONTINGENT BENEFICIARY

FAMILY ALLOWANCE

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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