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Abraham Michelson
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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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Cindy Tolan

Business Organization, Wills & Probate, Real Estate, Trusts

Status: In Good Standing

CONTACT

1755 South Naperville Road, Wheaton, IL 60189

Kathy Martinez

Trusts, Estate Planning, Business

Status: In Good Standing

CONTACT

1755 South Naperville Road, Wheaton, IL 60189

Lawrence A. Stein

Corporate, Estate Planning, Trusts, Litigation

Status: In Good Standing

CONTACT

1755 South Naperville Road, Wheaton, IL 60189

Peggy A. Pratscher

Estate, Trusts, Power of Attorney, Estate Planning

Status: In Good Standing

CONTACT

2100 Manchester Road, Wheaton, IL 60187

A Charles Kogut

Trusts, Estate Planning, Estate, Criminal

Status: In Good Standing Licensed: 47 Years

CONTACT

600 W 22Nd St, Hinsdale, IL 60523

A. Charles Kogut

Trusts, Estate Planning, Estate, Criminal

Status: In Good Standing Licensed: 46 Years

CONTACT

600 W 22Nd St, Hinsdale, IL 60523

Abby Bakos

Civil Rights, Trusts, Commercial Real Estate, Criminal

Status: In Good Standing Licensed: 11 Years

CONTACT

1755 Park St, Naperville, IL 60563

Aisha E. Henry

Trusts

Status: In Good Standing Licensed: 4 Years

CONTACT

835 Mcclintock Drive, Willowbrook, IL 60527

Alan Thomas Kaminski

Federal Appellate Practice, Trusts, Federal, Commercial Real Estate

Status: In Good Standing Licensed: 43 Years

CONTACT

220 E North Ave, Melrose Park, IL 60164

Alan Kaminski

Federal Appellate Practice, Trusts, Federal, Commercial Real Estate

Status: In Good Standing Licensed: 43 Years

CONTACT

220 E North Ave, Melrose Park, IL 60164

800-923-0641

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LEGAL TERMS

CURATOR

See conservator.

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.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

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.

TESTAMENTARY TRUST

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

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

SAMPLE LEGAL CASES

In re Estate of Feinberg

... 534, 891 NE2d 549. In reaching this conclusion, the appellate court relied on decisions of this court dating back as far as 1898 and, as noted, on the Restatement (Third) of Trusts. ISSUE PRESENTED. ... Applicability of Restatement (Third) of Trusts. ...

In re Estate of Feinberg

... 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 the Trusts of Max ...

Laubner v. JP Morgan Chase Bank, NA

... 747 Justice COOK delivered the opinion of the court: On October 31, 2007, plaintiffs Patricia A. Laubner and Pamela A. Larson filed an amended petition to remove codefendant Deborah B. Alley as trustee and to modify the distributions being made from the trusts. ...

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Downers Grove Trusts Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Cindy Tolan

Kathy Martinez

Lawrence A. Stein

Peggy A. Pratscher

A Charles Kogut

A. Charles Kogut

Abby Bakos

Aisha E. Henry

Alan Thomas Kaminski

Alan Kaminski

TIPS

LEGAL TERMS

CURATOR

GENERATION-SKIPPING TRUST

QTIP TRUST

ADEMPTION

TESTAMENTARY TRUST

RESIDUARY ESTATE

SURVIVING SPOUSE'S TRUST

DEATH TAXES

ESTATE PLANNING

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

Laubner v. JP Morgan Chase Bank, NA

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