Pound Ridge Estate Planning Lawyer, New York

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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

Allison Guthrie Fischer

Estate, Estate Planning

Status: In Good Standing Licensed: 27 Years

CONTACT

Cross River, NY 10518

Anthony Craig Markus

Estate Planning, Estate, Divorce, Divorce & Family Law

Status: In Good Standing Licensed: 39 Years

CONTACT

118 N Bedford Rd, Mount Kisco, NY 10549

Carolyn Ellen Harting

General Practice

Status: In Good Standing Licensed: 41 Years

CONTACT

Bedford, NY 10506

Douglas E. Singer

Trusts, Estate Planning, Corporate, Business

Status: In Good Standing

CONTACT

55 Smith Ave, Mount Kisco, NY 10549

Douglas E. Singer

Trusts, Estate Planning, Corporate, Business

Status: In Good Standing

CONTACT

55 Smith Ave, Mount Kisco, NY 10549

Eric Christophe Newhart

Tax, Gift Taxation

Status: In Good Standing Licensed: 24 Years

CONTACT

1 Bittersweet Ln, Mount Kisco, NY 10549

Farva Jafri

Bankruptcy & Debt, Tax, Divorce, Estate Planning, White Collar Crime

Status: In Good Standing

FREE CONSULTATION

CONTACT

50 Evergreen Row, Armonk, NY 10504

George Hunter Roberts

Commercial Real Estate, Estate Planning, Estate, Elder Law

Status: In Good Standing

CONTACT

200 Katonah Ave, Katonah, NY 10536

Jessica Bonnie Bacal

Real Estate, Estate Planning, Estate, Divorce & Family Law, Business

Status: In Good Standing Licensed: 55 Years

CONTACT

61 Smith Ave, Mount Kisco, NY 10549

John Harris Gettinger

Real Estate Other, Estate Planning, Employment, Insurance

Status: In Good Standing

CONTACT

118 N Bedford Rd, Mount Kisco, NY 10549

800-923-0641

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LEGAL TERMS

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

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.

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to o... (more...)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.

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.

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.

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.'

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

BENEFICIARY

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

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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Pound Ridge Estate Planning Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Allison Guthrie Fischer

Anthony Craig Markus

Carolyn Ellen Harting

Douglas E. Singer

Douglas E. Singer

Eric Christophe Newhart

Farva Jafri

George Hunter Roberts

Jessica Bonnie Bacal

John Harris Gettinger

TIPS

LEGAL TERMS

PREDECEASED SPOUSE

SPENDTHRIFT TRUST

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

POWER OF APPOINTMENT

AUGMENTED ESTATE

INCOMPETENCE

EXEMPTION TRUST

TRUST MERGER

BENEFICIARY

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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