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Abraham Michelson
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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
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John Paul Carroll

Trusts, Criminal, Accident & Injury, Civil Rights

Status: In Good Standing Licensed: 53 Years

CONTACT

608 South Washington, Naperville, IL 60540

James Allen Riley

Real Estate, Trusts, Corporate, Contract

Status: In Good Standing Licensed: 41 Years

CONTACT

1500 S. Maybrook Drive, Maywood, IL 60153

Lesa Moskowitz

Estate, Real Estate, Trusts

Status: In Good Standing Licensed: 18 Years

CONTACT

1220 Birks Court, La Grange, IL 60525

Christina Mermigas

Corporate, International Tax, Trusts, Commercial Real Estate

Status: In Good Standing Licensed: 11 Years

CONTACT

361 Coventry Ct, Clarendon Hills, IL 60514

Megan Elizabeth Hamilton

Corporate, Trusts, Real Estate

Status: In Good Standing Licensed: 12 Years

CONTACT

492 S Parkview Ave, Elmhurst, IL 60126

Beverly Helm

International Tax, Trusts, Estate Planning, Business

Status: In Good Standing Licensed: 44 Years

CONTACT

836 Hadley Run Ln, Schaumburg, IL 60173

Jeffrey Alan Jones

Wills & Probate, Trusts, Estate Planning, Business & Trade

Status: In Good Standing Licensed: 47 Years

CONTACT

1389 E Gartner Road, Naperville, IL 60540

Craig Allen Knot

Intellectual Property, Trusts, Securities, Antitrust

Status: In Good Standing Licensed: 45 Years

CONTACT

946 S Ave, Oak Park, IL 60304

Craig Knot

Securities, Trusts, Intellectual Property, Antitrust

Status: In Good Standing Licensed: 45 Years

CONTACT

946 S Ave, Oak Park, IL 60304

Jonathan David Lichterman

Insurance, Trusts, Criminal, Antitrust

Status: In Good Standing Licensed: 29 Years

CONTACT

1144 W Lake St, Oak Park, IL 60301

800-923-0641

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LEGAL TERMS

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.

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.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

LETTERS TESTAMENTARY

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.

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.

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.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

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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Fox Valley Trusts Lawyer, Illinois, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John Paul Carroll

James Allen Riley

Lesa Moskowitz

Christina Mermigas

Megan Elizabeth Hamilton

Beverly Helm

Jeffrey Alan Jones

Craig Allen Knot

Craig Knot

Jonathan David Lichterman

TIPS

LEGAL TERMS

SUCCESSION

GROSS ESTATE

TRUST MERGER

ALTERNATE BENEFICIARY

SPENDTHRIFT TRUST

LETTERS TESTAMENTARY

DISCHARGE (OF PROBATE ADMINISTRATOR)

ADEMPTION

TRUSTEE POWERS

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

Laubner v. JP Morgan Chase Bank, NA

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