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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.
3. Practice AreasServices
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Jason L. Cassidy

Criminal, Estate Planning, Family Law, Litigation, Workers' Compensation

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3300 Vickery Road, Syracuse, NY 13212

Raymond J. Dague

Wills & Probate, Family Law, Divorce, Constitutional Law, Corporate

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472 South Salina Street, Syracuse, NY 13202

David L Delvecchio

Bankruptcy, Contract, Estate Planning, Family Law

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109 South Warren Street, Syracuse, NY 13202

Michael J. Ranieri

Animal Bite, Criminal, DUI-DWI, Estate Planning

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407 South Warren Street, Syracuse, NY 13202

Bryan James Maether

Residential Real Estate, Public Interest Law, Estate, Divorce & Family Law

Status: Licensed: 11 Years

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9646 Brewerton Road, Brewerton, NY 13029

Timothy Alan Collins

Special Education, Education, Estate, Employment

Status: Licensed: 21 Years

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5560 Bartell Rd., Brewerton, NY 13029

Mara J. Wegerski

Real Estate, Estate, Criminal, Welfare, Child Custody

Status: Licensed: 17 Years

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9663 Brewerton Rd, Brewerton, NY 13029

Daniel Joseph Hebert

Real Estate, Lawsuit & Dispute, Government, Estate

Status: Licensed: 13 Years

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9456 Madison Ave, Brewerton, NY 13029

Kathleen Ann Stevenson

Divorce & Family Law, Estate, Residential Real Estate, Car Accident, Personal Injury

Status: Licensed: 40 Years

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5936 Lakeshore Rd, Cicero, NY 13039

John Michael Mowry

Real Estate, Estate

Status: Licensed: 60 Years

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3287 Main St, Mexico, NY 13114

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LEGAL TERMS

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

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).

KINDRED

Under some state's probate codes, all relatives of a deceased person.

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

CREDIT SHELTER TRUST

See AB 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.

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

In 1986 Markatos Realtors, Inc. (hereinafter Markatos), Rutger's immediate predecessor in interest, along with Brookside Park Properties, Inc., the defendant's predecessor in interest, executed a written indenture providing, among other things, for mutual easements designating 12 ...

Colasacco v. Robert E. Lawrence Real Estate

In October 2002 the defendant Christopher DiCorato, a real estate agent employed by the defendant Robert E. Lawrence Real Estate (hereinafter Lawrence, and hereinafter together the defendants), met with the plaintiffs and showed them a parcel of vacant property that was ...

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

In any event, plaintiff fails, as a matter of law, to demonstrate any injury for which it is entitled to hold defendant sponsors liable. Although the purchase agreement obligated defendant sponsors to provide plaintiff with a building and unit constructed "in a good and workman-like ...

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Mallory Estate Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jason L. Cassidy

Raymond J. Dague

David L Delvecchio

Michael J. Ranieri

Bryan James Maether

Timothy Alan Collins

Mara J. Wegerski

Daniel Joseph Hebert

Kathleen Ann Stevenson

John Michael Mowry

TIPS

LEGAL TERMS

SUCCESSOR TRUSTEE

DEATH TAXES

ENDOWMENT INSURANCE

PER CAPITA

KINDRED

ADMINISTRATION (OF AN ESTATE)

ADEMPTION

CREDIT SHELTER TRUST

ACCUMULATION TRUST

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

Colasacco v. Robert E. Lawrence Real Estate

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

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