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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
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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Janet Rae Montgomery

Business Organization, Estate Planning, Wills & Probate, Real Estate

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Daluga & Boland, LLC, Chicago, IL 60606

Monica J. Gurgiolo

Corporate, Estate Planning, Wills & Probate, Trusts

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5600 N River Rd, Des Plaines, IL 60018

Matthew J Ryan

Bankruptcy, Criminal, Estate Planning, Family Law

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3101 N Rose Street, Franklin Park, IL 60131

Mimi L. Turney

Business Organization, Estate Planning

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707 Skokie Blvd # 500, Northbrook, IL 60062

Betsy Kadus

Wills & Probate, Government Agencies, Elder Law, Estate Planning

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500 Skokie Blvd., Northbrook, IL 60062

Daniel William Witous

Real Estate, Estate, Divorce & Family Law, Business

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10600 S. Cicero Avenue, Oak Lawn, IL 60453

George J. Witous

Real Estate, Estate Planning, Estate, Family Law

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10600 S. Cicero Avenue, Oak Lawn, IL 60453

Edward G. Schussler

Business Organization, Contract, Elder Law, Estate Planning

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9631 W 153rd Street, Orland Park, IL 60462

Jay A. Andrew

Commercial Leasing, Estate Administration, Corporate, Banking & Finance

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800 Northwest Hwy, Palatine, IL 60074

Martin C. Kelley

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

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

800-923-0641

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LEGAL TERMS

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

SUCCESSION

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

HOLOGRAPHIC WILL

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.

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.

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

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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Cook County, IL Estate Lawyers, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Janet Rae Montgomery

Monica J. Gurgiolo

Matthew J Ryan

Mimi L. Turney

Betsy Kadus

Daniel William Witous

George J. Witous

Edward G. Schussler

Jay A. Andrew

Martin C. Kelley

TIPS

LEGAL TERMS

GROSS ESTATE

STATUTORY SHARE

ENDOWMENT INSURANCE

SUCCESSION

BEQUEATH

CHARITABLE TRUST

HOLOGRAPHIC WILL

NONPROBATE

DOWER AND CURTESY

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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