Lake Bluff Trusts Lawyer, Illinois

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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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Michael A. Goldberg

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Estate, Estate Planning, Trusts, Wills & Probate, Estate Administration

I am a lifelong Chicagoland resident with a passion for helping families plan their estates so their loved ones are cared for upon their passing. I ut... (more)

FREE CONSULTATION

CONTACT

847-549-0600

350 N. Milwaukee Avenue, Libertyville, IL 60048

John Lemker

Industry Specialties, Health Care, Trusts, Products Liability

Status: In Good Standing Licensed: 53 Years

CONTACT

10 E Scranton Ave, Lake Bluff, IL 60044

John Frederick Lemker

Industry Specialties, Health Care, Trusts, Products Liability

Status: In Good Standing Licensed: 53 Years

CONTACT

10 E Scranton Ave, Lake Bluff, IL 60044

Mary Coleen Gregory

General Practice

Status: In Good Standing Licensed: 18 Years

CONTACT

717 Forest Ave, Lake Forest, IL 60045

Elizabeth Louise Maxeiner

Litigation, Trusts, Securities, Antitrust

Status: In Good Standing Licensed: 48 Years

CONTACT

736 North Western Avenue, Lake Forest, IL 60045

James Bernard Sloan

Trusts, Antitrust

Status: In Good Standing Licensed: 62 Years

CONTACT

One Westminster Place, Lake Forest, IL 60045

Thomas Pasquesi

Trusts, Estate, Divorce & Family Law

Status: In Good Standing Licensed: 43 Years

CONTACT

191 E Deerpath, Lake Forest, IL 60045

Kathryn Grant Shores

Trusts, Estate Planning, Guardianships & Conservatorships, Elder Law

Status: In Good Standing Licensed: 17 Years

CONTACT

191 E Deerpath Rd, Lake Forest, IL 60045

Mary Gifford

Trusts, Federal, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

717 Forest Ave, Lake Forest, IL 60045

Mary Coleen Gregory

General Practice

Status: In Good Standing Licensed: 18 Years

CONTACT

717 Forest Ave, Lake Forest, IL 60045

800-923-0641

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LEGAL TERMS

ANCILLARY PROBATE

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are... (more...)

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are necessary if the deceased person owned real estate in another state.

PUBLIC ADMINISTRATOR

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to t... (more...)

Someone appointed by a probate court to oversee probate proceedings when a person dies without a will or heirs, and his or her property is expected to pass to the state. Some states have public administrators who are responsible for temporarily preserving the assets of an estate if there are disputes about specific provisions in the will or about who will be appointed the regular administrator.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

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.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

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.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

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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Lake Bluff Trusts Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael A. Goldberg

John Lemker

John Frederick Lemker

Mary Coleen Gregory

Elizabeth Louise Maxeiner

James Bernard Sloan

Thomas Pasquesi

Kathryn Grant Shores

Mary Gifford

Mary Coleen Gregory

TIPS

LEGAL TERMS

ANCILLARY PROBATE

PUBLIC ADMINISTRATOR

GRANTOR

ESTATE TAXES

FAMILY ALLOWANCE

BYPASS TRUST

POUR-OVER WILL

QTIP TRUST

CONTINGENT BENEFICIARY

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

Laubner v. JP Morgan Chase Bank, NA

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