Lake Bluff Wills & Probate Lawyer, Illinois

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Abraham Michelson
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The Michelson Law Office
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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Includes: Estate Administration, Living Wills, Wills

Michael A. Goldberg

✓ VERIFIED

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)

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CONTACT

847-549-0600

350 N. Milwaukee Avenue, Libertyville, IL 60048

Kimberly Smoron Wisneski

Federal Appellate Practice, Wills & Probate, Estate Planning, Transactions

Status: In Good Standing Licensed: 27 Years

CONTACT

900 N Shore Dr, Lake Bluff, IL 60044

Stephen Speranza

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

Status: In Good Standing Licensed: 38 Years

CONTACT

1401 N Western Ave, Lake Forest, IL 60045

Brian Stewart Grach

Municipal, Wills, Trusts, Business

Status: In Good Standing

CONTACT

140 South Milwaukee Ave, Libertyville, IL 60048

Daniel Edward Levy

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

Status: In Good Standing Licensed: 39 Years

CONTACT

100 South Saunders Road, Lake Forest, IL 60045

Gary Thompson

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

103 S. Greenleaf Street, Gurnee, IL 60031

Saul Ferris

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

103 S. Greenleaf Street, Gurnee, IL 60031

Edward Kenneth Suskin

Real Estate, Wills & Probate, Trusts, Transactions

Status: In Good Standing Licensed: 55 Years

CONTACT

1580 South Milwaukee Avenue, Libertyville, IL 60048

Michael Ori

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

Status: In Good Standing Licensed: 21 Years

CONTACT

18 N County St, Waukegan, IL 60085

800-923-0641

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LEGAL TERMS

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.

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.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

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.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

POWER OF APPOINTMENT

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

SAMPLE LEGAL CASES

In re Estate of Ellis

... Bauman was the pastor of the church of which Ellis was a member. When Ellis died in 2003, the 1999 will was admitted to probate. ... The circuit court of Cook County dismissed all counts as untimely pursuant to section 8-1 of the Probate Act of 1975 (755 ILCS 5/8-1 (West 2006)). ...

Wackrow v. Niemi

... James Woods died in August 2002. Letters of office were issued and Woods' will was admitted to probate on October 23, 2002. ... The estate did not deliver the property or the $300,000 to plaintiff. On October 24, 2003, the probate court denied plaintiff's claim against the estate. ...

In re Estate of Feinberg

... freedom. The Probate Act places only two limits on the ability of a testator to choose the objects of his bounty. ... desire. Under the Probate Act, Max and Erla had no obligation to make any provision at all for their grandchildren. ...

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Lake Bluff Wills & Probate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael A. Goldberg

Kimberly Smoron Wisneski

Stephen Speranza

Brian Stewart Grach

Daniel Edward Levy

Gary Thompson

Saul Ferris

Edward Kenneth Suskin

Michael Ori

TIPS

LEGAL TERMS

POUR-OVER WILL

ACCUMULATION TRUST

INTESTATE

FAILURE OF ISSUE

AB TRUST

BYPASS TRUST

INVENTORY

POWER OF APPOINTMENT

QDOT TRUST

SAMPLE LEGAL CASES

In re Estate of Ellis

Wackrow v. Niemi

In re Estate of Feinberg

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