Stone Park Estate Planning Lawyer, Illinois, page 2

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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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Includes: Gift Taxation

Claudia Valeria Bertacchi

General Practice

Status: In Good Standing Licensed: 10 Years

CONTACT

3310 N. Harlem Avenue, Chicago, IL 60634

Christopher Paul Elmore

General Practice

Status: In Good Standing Licensed: 23 Years

CONTACT

3311 North Harlem, Chicago, IL 60634

Julita Kocinski

Estate Planning, Divorce, Transactions, Bankruptcy

Status: In Good Standing Licensed: 23 Years

CONTACT

3311 North Harlem, Chicago, IL 60634

Elmer Paul Marshall

Commercial Real Estate, Intellectual Property, Estate Planning, Personal Injury

Status: In Good Standing Licensed: 40 Years

CONTACT

4809 N Mont Clare Ave, Chicago, IL 60656

Richard C. Kloak

Estate Planning, Criminal

Status: In Good Standing Licensed: 46 Years

CONTACT

6914 West North Avenue, Chicago, IL 60607

Richard Kloak

Estate Planning, Criminal

Status: In Good Standing Licensed: 46 Years

CONTACT

6914 West North Avenue, Chicago, IL 60607

John Maurice Caluwaert

Commercial Real Estate, Estate Planning, Transactions, Business

Status: In Good Standing Licensed: 54 Years

CONTACT

579 West North Avenue, Elmhurst, IL 60126

John Caluwaert

Estate Planning, Transactions, Business & Trade, Business

Status: In Good Standing Licensed: 54 Years

CONTACT

579 West North Avenue, Elmhurst, IL 60126

Amy Galvin Grogan

Estate Planning, Commercial Real Estate, Federal Appellate Practice, Estate, Transactions

Status: In Good Standing Licensed: 29 Years

CONTACT

2 Mid America Plaza, Elmhurst, IL 60126

Amy Grogan

General Practice

Status: In Good Standing Licensed: 29 Years

CONTACT

2 Mid America Plaza, Elmhurst, IL 60126

800-923-0641

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LEGAL TERMS

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.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

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.

SURROGATE COURT

See probate court.

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.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

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.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

SAMPLE LEGAL CASES

Dunn v. Patterson

... for them. The circuit court of Will County entered judgment on the pleadings, finding, as a matter of law, that provisions in certain estate planning documents prepared by defendant were contrary to public policy and void. The ...

Fitch v. McDermott, Will and Emery, LLP

... Around the same time, defendants Joseph Dietrich and John Dietrich (hereafter the Dietrichs), both certified public accountants, provided financial and accounting services for estate planning purposes to Victoria and her husband, plaintiff Thomas Fitch. ...

In re Estate of Henry

... Accordingly, the estate petitioned the court to allow the estate to execute estate planning documents for Henry which, it contended, were consistent with his known wishes and which would be "free from the taint of the undue influence and fraud which was assembled upon the ...

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Stone Park Estate Planning Lawyer, Illinois, page 2

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Claudia Valeria Bertacchi

Christopher Paul Elmore

Julita Kocinski

Elmer Paul Marshall

Richard C. Kloak

Richard Kloak

John Maurice Caluwaert

John Caluwaert

Amy Galvin Grogan

Amy Grogan

TIPS

LEGAL TERMS

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

WILL

IRREVOCABLE TRUST

ADEMPTION

SURROGATE COURT

ALTERNATE BENEFICIARY

LIVING TRUST

ADMINISTRATION (OF AN ESTATE)

HEIR APPARENT

SAMPLE LEGAL CASES

Dunn v. Patterson

Fitch v. McDermott, Will and Emery, LLP

In re Estate of Henry

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PRACTICE AREAS 30

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