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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
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Joseph H. Sparacino

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Estate, Bankruptcy & Debt

Joseph H. Sparacino is a practicing lawyer in the state of Illinois.

CONTACT

847-259-5700

1845 E. Rand Rd. Suite 211, Arlington Heights, IL 60004

Marshall N. Dickler

Real Estate, Estate, Employment, Medical Malpractice, Personal Injury

Chicago, IL Condominium & Homeowner Association Lawyer

Marshall N. Dickler, is a condominium and homeowner association attorney with over 50 years of experience. Based out of Arlington Heights, IL, Attorne... (more)

CONTACT

847-593-5595

85 W Algonquin Rd, Arlington Heights, IL 60005

Marc J. Blumenthal

Real Estate, Industry Specialties, Estate, Business

Status: In Good Standing

CONTACT

355 W. Dundee Rd., Buffalo Grove, IL 60089

James J. Riebandt

Commercial Leasing, Estate Planning, Corporate, Business Organization

Status: In Good Standing

CONTACT

1237 S. Arlington Heights Road, Arlington Heights, IL 60006

Betsy Kadus

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

Status: In Good Standing

FREE CONSULTATION

CONTACT

500 Skokie Blvd., Northbrook, IL 60062

Mimi L. Turney

Business Organization, Estate Planning

Status: In Good Standing

CONTACT

707 Skokie Blvd # 500, Northbrook, IL 60062

Jerome G McSherry

Real Estate, Wills & Probate, Trusts, Estate

Status: In Good Standing

CONTACT

121 S. Wilke Rd., #407, Arlington Heights, IL 60005

Neil S. Zweiban

Estate, Real Estate, Wills & Probate, Trusts, Estate Planning

Status: In Good Standing Licensed: 42 Years

CONTACT

3255 N Arlington Heights Rd, Arlington Heights, IL 60004

James C. Siebert

Wills & Probate, Trusts, Estate Planning, Elder Law

Status: In Good Standing Licensed: 43 Years

CONTACT

3325 North Arlington Heights Road, Arlington Heights, IL 60004

Cary A. Lind

Estate Planning, Contract, Business Organization, Collection

Status: In Good Standing Licensed: 51 Years

CONTACT

1655 N Arlington Hts Rd, Arlington Heights, IL 60004

800-923-0641

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LEGAL TERMS

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

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.

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.

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

PROBATE

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

CREDIT SHELTER TRUST

See AB trust.

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.

SAMPLE LEGAL CASES

In re Estate of Feinberg

This case involves a dispute among the surviving children and grandchildren of Max and Erla Feinberg regarding the validity of a trust provision. The circuit court of Cook County found the trust provision unenforceable on the basis that it is contrary to the public policy of the state ...

In re Estate of Feinberg

In re ESTATE OF 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 ...

In re Estate of Ellis

Grace Ellis executed a will in 1964 naming Shriners Hospitals for Children (Shriners) as beneficiary of her estate if she died without direct descendants. In 1999, she executed a new will naming James G. Bauman as sole beneficiary. Bauman was the pastor of the church of which ...

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Prospect Heights Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Joseph H. Sparacino

Marshall N. Dickler

Marc J. Blumenthal

James J. Riebandt

Betsy Kadus

Mimi L. Turney

Jerome G McSherry

Neil S. Zweiban

James C. Siebert

Cary A. Lind

TIPS

LEGAL TERMS

QTIP TRUST

ENDOWMENT INSURANCE

GENERATION-SKIPPING TRUST

GRANTOR RETAINED INCOME TRUST

PROBATE

SWEARING MATCH

STATUTORY SHARE

CREDIT SHELTER TRUST

TRUSTEE

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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