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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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Includes: Gift Taxation

Louis-Jack Pozner

Family Law, Personal Injury, Estate Planning, Legal Malpractice

Status: Licensed: 53 Years

CONTACT

270 Mount Hope Drive, Albany, NY 12202

Denise Frenia Esslie

Estate Planning

Status: Licensed: 26 Years

CONTACT

550 Main St, Cairo, NY 12413

Michael W. Esslie

Landlord-Tenant, Estate Planning, Employment, Personal Injury

Status: Licensed: 26 Years

CONTACT

550 Main St, Cairo, NY 12413

James M. Wagman

Traffic, Estate Planning, Divorce & Family Law, Criminal, Motor Vehicle

Status: Licensed: 41 Years

CONTACT

Catskill, NY 12414

Veronica Maxine Kosich

Wills & Probate, Estate Planning, Divorce & Family Law, Criminal

Status: Licensed: 26 Years

CONTACT

24 Hamburg Rd, Catskill, NY 12414

Jessica Backer Brand

Estate Planning, Environmental Law, Elder Law

Status: Licensed: 27 Years

CONTACT

198 Delaware Ave, Delmar, NY 12054

Mario David Cometti

Real Estate, Estate Planning, Business & Trade, Consumer Bankruptcy, Family Law

Status: Licensed: 33 Years

CONTACT

Delmar, NY 12054

Bellanca Jean Fletcher

Estate Planning, Family Law, Divorce, Elder Law

Status: Licensed: 31 Years

CONTACT

Feura Bush, NY 12067

Virginia D. Benedict

Real Estate, State and Local, Estate Planning, Corporate, Divorce

Status: Licensed: 36 Years

CONTACT

436 Union St, Hudson, NY 12534

Jay W. Swanson

International Tax, Trusts, Estate Planning, Estate

Status: Licensed: 46 Years

CONTACT

356 Union Street, Hudson, NY 12534

800-814-6700

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LEGAL TERMS

NET ESTATE

The value of all property owned at death less liabilities or debts.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

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.

TAKING AGAINST THE WILL

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property.... (more...)

A procedure under state law that gives a surviving spouse the right to demand a certain share (usually one-third to one-half) of the deceased spouse's property. The surviving spouse can take that share instead of accepting whatever he or she inherited through the deceased spouse's will. If the surviving spouse decides to take the statutory share, it's called 'taking against the will.' Dower and curtesy is another name for the same legal process.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

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).

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

SAMPLE LEGAL CASES

Schneider v. Finmann

... maintain an action for legal malpractice. We now reverse and reinstate plaintiff's claim. Strict privity, as applied in the context of estate planning malpractice actions, is a minority rule in the United States. [1] In New York, a third ...

Fielding v. Kupferman

... The documents at issue in Bishop were estate planning instruments executed by the plaintiff who believed that he was giving his wife a life estate and was not limiting his access to his life savings (Bishop, 33 AD3d 497, 501 [2006], affd 9 NY3d 910 [2007]). ...

Kram Knarf, LLC v. Djonovic

... The client's malpractice complaint was silent as to how the attorneys misled him, what they failed to explain to him concerning the estate planning documents he executed, and which of his instructions those documents did not reflect (33 AD3d at 498-499). ...

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Freehold Estate Planning Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Louis-Jack Pozner

Denise Frenia Esslie

Michael W. Esslie

James M. Wagman

Veronica Maxine Kosich

Jessica Backer Brand

Mario David Cometti

Bellanca Jean Fletcher

Virginia D. Benedict

Jay W. Swanson

TIPS

LEGAL TERMS

NET ESTATE

SPRINKLING TRUST

LETTERS TESTAMENTARY

TAKING AGAINST THE WILL

INTER VIVOS TRUST

PER CAPITA

AUGMENTED ESTATE

CHARITABLE TRUST

LAPSE

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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