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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
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Mark T. Scheffer

Real Estate, Estate, Elder Law, Business

Status: In Good Standing Licensed: 40 Years

CONTACT

Middleton, WI 53562

Dale R. Gregory

Criminal, Business, Commercial Real Estate, Estate Planning

Status: In Good Standing Licensed: 39 Years

CONTACT

2501 Parmenter Street, Middleton, WI 53562

Mark H T Fuhrman

Tax, Estate Planning, Business Successions, Business, Estate

Status: In Good Standing Licensed: 31 Years

CONTACT

2501 Parmenter Street, Middleton, WI 53562

Steven Ellis

Estate, Divorce & Family Law, Business

Status: Inactive Licensed: 13 Years

CONTACT

602 Eagle Heights, Madison, WI 53705

Stephanie A. Schmitt

Power of Attorney, Commercial Real Estate, Real Estate, Wills & Probate, Estate

Status: In Good Standing Licensed: 14 Years

CONTACT

8215 Greenway Blvd, Middleton, WI 53562

Christine Jensen Huberty

Health Care, Estate, Civil & Human Rights

Status: In Good Standing Licensed: 11 Years

CONTACT

321 Elmside Blvd, Madison, WI 53704

Michelle T L Hernandez

Real Estate, Litigation, Estate, Family Law

Status: In Good Standing

CONTACT

8215 Greenway Blvd, Middleton, WI 53562

Matthew Atkins

Estate, Real Estate, Business

Status: In Good Standing

CONTACT

1651 John Q Hammons Dr, Middleton, WI 53562

Matthew D. Suing

Real Estate, Wills & Probate, Family Law, Business

Status: In Good Standing

CONTACT

2501 Parmenter St, Middleton, WI 53562

Todd M. Pfeil

Landlord-Tenant, Lawsuit & Dispute, Wills & Probate, Employee Rights

Status: In Good Standing

CONTACT

2501 Parmenter St, Middleton, WI 53562

800-923-0641

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LEGAL TERMS

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

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.

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.

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.

CERTIFICATION OF TRUST

See abstract of 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.

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.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

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Deforest Estate Lawyer, Wisconsin, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mark T. Scheffer

Dale R. Gregory

Mark H T Fuhrman

Steven Ellis

Stephanie A. Schmitt

Christine Jensen Huberty

Michelle T L Hernandez

Matthew Atkins

Matthew D. Suing

Todd M. Pfeil

TIPS

LEGAL TERMS

FINAL BENEFICIARY

REMAINDERMAN

TRUSTEE

STATUTORY SHARE

CERTIFICATION OF TRUST

ESTATE TAXES

SUCCESSION

ACCUMULATION TRUST

SUMMARY PROBATE

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