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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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Andrew W. Schmidt

Real Estate, Divorce, Power of Attorney, Guardianships & Conservatorships, Estate

Status: In Good Standing

CONTACT

123 Grand Avenue, Wausau, WI 54403

Andrew Polzin

Real Estate, Estate, Employment, Criminal

Status: In Good Standing Licensed: 11 Years

CONTACT

200 N Center Ave, Merrill, WI 54452

Gerald Joseph Hersil

Real Estate, Estate, Business, Accident & Injury

Status: In Good Standing Licensed: 29 Years

CONTACT

200 N Center Avenue, Merrill, WI 54452

Scott Alexander Swid

Real Estate, Estate, Consumer Rights, Contract, Business

Status: In Good Standing Licensed: 28 Years

CONTACT

415 Orbiting Dr, Mosinee, WI 54455

Jerome P. Tlusty

Landlord-Tenant, Estate, Employment, Personal Injury, Accident & Injury

Status: In Good Standing Licensed: 55 Years

CONTACT

1155 Grand Ave, Schofield, WI 54476

Michael K. Dirks

Litigation, Wills & Probate, Employment Discrimination, Divorce & Family Law

Status: Inactive Licensed: 20 Years

CONTACT

1155 Grand Ave, Schofield, WI 54476

Tara M. Guelzow

Real Estate, Estate, Divorce & Family Law, Contract

Status: In Good Standing Licensed: 19 Years

CONTACT

531 Washington Avenue, Wausau, WI 54403

Douglas Twait

Special Education, Trusts, Estate Planning, Estate, Pension & Benefits

Status: In Good Standing

CONTACT

305 S 18Th Avenue, Wausau, WI 54402

Jon Carl Schuster

Real Estate, Estate, Business

Status: In Good Standing Licensed: 28 Years

CONTACT

903 S 17Th Avenue, Wausau, WI 54401

Russell W. Wilson

Commercial Real Estate, Dispute Resolution, Estate, Antitrust

Status: In Good Standing Licensed: 46 Years

CONTACT

500 N 1St St, Wausau, WI 54402

800-923-0641

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LEGAL TERMS

PRETERMITTED HEIR

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child b... (more...)

A child or spouse who is not mentioned in a will and whom the court believes was accidentally overlooked by the person who made the will. For example, a child born or adopted after the will is made may be deemed a pretermitted heir. If the court determines that an heir was accidentally omitted, that heir is entitled to receive the same share of the estate as she would have if the deceased had died without a will. A pretermitted heir is sometimes called an 'omitted heir.'

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.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

LETTERS TESTAMENTARY

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succes... (more...)

The document given to an executor by the probate court, authorizing the executor to settle the estate according to either a will or the state's intestate succession laws.

BANKRUPTCY ESTATE

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankrup... (more...)

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

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).

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

Wausau Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Andrew W. Schmidt

Andrew Polzin

Gerald Joseph Hersil

Scott Alexander Swid

Jerome P. Tlusty

Michael K. Dirks

Tara M. Guelzow

Douglas Twait

Jon Carl Schuster

Russell W. Wilson

TIPS

LEGAL TERMS

PRETERMITTED HEIR

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

SUMMARY PROBATE

LETTERS TESTAMENTARY

BANKRUPTCY ESTATE

FAMILY ALLOWANCE

GRANTOR RETAINED INCOME TRUST

GENERATION-SKIPPING TRANSFER TAX

CREDIT SHELTER TRUST

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