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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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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)

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847-549-0600

350 N. Milwaukee Avenue, Libertyville, IL 60048

James C. Siebert

Wills & Probate, Trusts, Estate Planning, Elder Law

Status: In Good Standing Licensed: 43 Years

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3325 North Arlington Heights Road, Arlington Heights, IL 60004

Bruce K. Roberts

Wills & Probate, Trusts, Estate Planning, Estate

Status: In Good Standing

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1620 Colonial Parkway, Inverness, IL 60067

Howard M Lang

Trusts, Gift Taxation, Estate Planning, Business, Insurance

Status: In Good Standing Licensed: 51 Years

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700 Florsheim Dr, Libertyville, IL 60048

Karl H. Magnus

Residential Real Estate, Wills & Probate, Trusts, Consumer Bankruptcy

Status: In Good Standing Licensed: 26 Years

FREE CONSULTATION

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3030 Salt Creek Ln., Arlington Heights, IL 60005

Edward Kenneth Suskin

Real Estate, Wills & Probate, Trusts, Transactions

Status: In Good Standing Licensed: 55 Years

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1580 South Milwaukee Avenue, Libertyville, IL 60048

William Gotfryd

Class Action, Trusts, Securities, Business

Status: In Good Standing Licensed: 45 Years

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310 N Woodview Rd, Barrington, IL 60010

William Ted Gotfryd

Class Action, Trusts, Securities, Business

Status: In Good Standing Licensed: 45 Years

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310 N Woodview Rd, Barrington, IL 60010

Scott Matthew Nelson

Trusts, Family Law, Divorce, Child Custody

Status: In Good Standing Licensed: 31 Years

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746 Seventh Ave, Lake Forest, IL 60048

Bruce Gales Thill

Real Estate, Contract, Trusts, Wills & Probate

Status: In Good Standing Licensed: 51 Years

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117 W. Slade St, Palatine, IL 60067

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.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

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.

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

BENEFICIARY

A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.

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.

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

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).

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 Zurich Trusts Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Michael A. Goldberg

James C. Siebert

Bruce K. Roberts

Howard M Lang

Karl H. Magnus

Edward Kenneth Suskin

William Gotfryd

William Ted Gotfryd

Scott Matthew Nelson

Bruce Gales Thill

TIPS

LEGAL TERMS

SPENDTHRIFT TRUST

PROBATE COURT

AUGMENTED ESTATE

TRUST DEED

BENEFICIARY

ALTERNATE BENEFICIARY

SELF-PROVING WILL

INCOMPETENCE

PER CAPITA

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

Laubner v. JP Morgan Chase Bank, NA

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