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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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Kenneth M. Collinson

Real Estate, Wills & Probate, Trusts, Estate Planning

Status: In Good Standing

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225 E. First Street, Milan, IL 61264

Robert G Scott

Estate Planning, Wills & Probate, Real Estate, Trusts

Status: In Good Standing

FREE CONSULTATION

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225 E. First Street, Milan, IL 61264

Thomas O. Moens

Mediation, Entertainment, Trusts, Credit & Debt

Status: In Good Standing Licensed: 32 Years

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1523 52Nd Avenue, Moline, IL 61265

Thomas Moens

Mediation, Entertainment, Trusts, Credit & Debt

Status: In Good Standing Licensed: 32 Years

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1523 52Nd Avenue, Moline, IL 61265

Frank R. Edwards

Other, Commercial Real Estate, Trusts, Elder Law

Status: In Good Standing Licensed: 66 Years

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1000 36Th Ave, Moline, IL 61265

Marie R. Rolling - Tarbox

Business, Estate Planning, Trusts, Complex Litigation

Status: In Good Standing Licensed: 37 Years

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3551 - 7Th St, Moline, IL 61265

Tyler James Courtney

Military, State Government, Trusts, Administrative Law

Status: In Good Standing

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3119 4Th St, Moline, IL 61265

Daniel P. Ellard

Estate Planning, Tax, Trusts, Wills

Status: In Good Standing

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1630 5Th Avenue, Moline, IL 61265

Keisha Nicole Douglas

Trusts, Employee Rights, Trade Associations

Status: In Good Standing Licensed: 8 Years

CONTACT

1515 5Th Avenue, Moline, IL 61265

Lincoln T. Scott

Real Estate, Contract, Trusts, Wills & Probate

Status: In Good Standing Licensed: 24 Years

CONTACT

225 1St St E, Milan, IL 61264

800-923-0641

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LEGAL TERMS

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

ABSTRACT OF TRUST

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract... (more...)

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract of trust to a financial organization or other institution to prove that you have established a valid living trust, without revealing specifics that you want to keep private. In some states, this document is called a 'certification of trust.'

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.

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

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.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

FAILURE OF ISSUE

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

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

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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Osco Trusts Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Kenneth M. Collinson

Robert G Scott

Thomas O. Moens

Thomas Moens

Frank R. Edwards

Marie R. Rolling - Tarbox

Tyler James Courtney

Daniel P. Ellard

Keisha Nicole Douglas

Lincoln T. Scott

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LEGAL TERMS

GENERATION-SKIPPING TRUST

ABSTRACT OF TRUST

ENDOWMENT INSURANCE

LIFE BENEFICIARY

SPENDTHRIFT TRUST

PROPERTY CONTROL TRUST

RESIDUARY ESTATE

FAILURE OF ISSUE

BEQUEATH

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

Laubner v. JP Morgan Chase Bank, NA

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