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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

Eliot M. Rudick

Corporate, Estate Planning, Family Law, Real Estate

Status: In Good Standing

CONTACT

150 Vanderbilt Motor Parkway, Hauppauge, NY 11788

Kimberly Ann Trueman

Wills & Probate, Estate Planning, Elder Law, Elder Law

Status: In Good Standing Licensed: 12 Years

CONTACT

12 Research Way, East Setauket, NY 11733

Dustin Allen Schock

Landlord-Tenant, Dispute Resolution, Immigration, Estate Planning

Status: In Good Standing Licensed: 14 Years

CONTACT

300 Rabro Drive East, Hauppauge, NY 11788

Penny S Slomovitz Glaser

Real Estate, Estate Planning, Sexual Harassment, Family Law, Divorce & Family Law

Status: In Good Standing Licensed: 36 Years

CONTACT

755 Waverly Avenue, Holtsville, NY 11742

Barbara Maria Pizzolato

Commercial Real Estate, International Tax, Trusts, Estate Planning

Status: In Good Standing

CONTACT

One Suffolk Square, Islandia, NY 11749

Donald M. Spanton

Wills, Trusts, Estate Planning, Private Schools

Status: In Good Standing Licensed: 65 Years

CONTACT

1050 Old Nichols Road, Islandia, NY 11749

Keith Harold Weidman

DUI-DWI, Estate Planning, Trusts, Criminal, Estate

Status: In Good Standing Licensed: 39 Years

CONTACT

900 Old Nichols Rd, Islandia, NY 11749

Keith Weidman

DUI-DWI, Estate Planning, Trusts, Criminal, Estate

Status: In Good Standing

CONTACT

900 Old Nichols Rd, Islandia, NY 11749

Robert S. Miller

Estate Planning, Medical Malpractice, Health Care, Commercial Real Estate, Mass Torts

Status: In Good Standing Licensed: 58 Years

CONTACT

15 Bri Ct, Nesconset, NY 11767

Robert Scott Miller

Estate Planning, Medical Malpractice, Health Care, Commercial Real Estate, Mass Torts

Status: In Good Standing Licensed: 58 Years

CONTACT

15 Bri Ct, Nesconset, NY 11767

800-923-0641

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LEGAL TERMS

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.

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.

HOLOGRAPHIC WILL

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many stat... (more...)

A will that is completely handwritten, dated and signed by the person making it. Holographic wills are generally not witnessed. Although it's legal in many states, making a holographic will is never advised except as a last resort.

DEED OF TRUST

See trust deed.

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.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

PETITION

A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elde... (more...)

A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elderly relative, you must file a petition with a court. See also complaint.

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.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

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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Lake Grove Estate Planning Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Eliot M. Rudick

Kimberly Ann Trueman

Dustin Allen Schock

Penny S Slomovitz Glaser

Barbara Maria Pizzolato

Donald M. Spanton

Keith Harold Weidman

Keith Weidman

Robert S. Miller

Robert Scott Miller

TIPS

LEGAL TERMS

SPENDTHRIFT TRUST

SURVIVING SPOUSE'S TRUST

HOLOGRAPHIC WILL

DEED OF TRUST

LAPSE

TRUSTEE

PETITION

AB TRUST

SPECIAL ADMINISTRATOR

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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