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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

Jeffrey J. Bartzen

Real Estate, Intellectual Property, Estate Planning, Corporate

Status: In Good Standing

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401 Charmany Drive, Madison, WI 53719

Lawrence E. Bechler

Land Use & Zoning, Real Estate, Wills & Probate, Estate Planning

Status: In Good Standing

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33 East Main Street, Madison, WI 53703

Joe Cavitt

Family Law, Employment, Estate Planning, Real Estate

Status: In Good Standing

FREE CONSULTATION

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33 East Main Street, Madison, WI 53703

William F. Mundt

Wills & Probate, Business Organization, Estate Planning, Employment

Status: In Good Standing

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33 East Main Street, Madison, WI 53703

Rachel L Govin

Estate Planning, Family Law, Litigation, Real Estate

Status: In Good Standing

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701 E. Washington Avenue, Madison, WI 53703

Howard A. Sweet

Wills & Probate, Corporate, Business Organization, Estate Planning

Status: In Good Standing

FREE CONSULTATION

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33 East Main Street, Madison, WI 53703

Kathleen A. Kjorlie

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

Status: In Good Standing Licensed: 16 Years

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8500 Greenway Blvd, Middleton, WI 53562

Mark H T Fuhrman

Tax, Estate Planning, Business Successions, Business, Estate

Status: In Good Standing Licensed: 31 Years

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2501 Parmenter Street, Middleton, WI 53562

Dale R. Gregory

Criminal, Business, Commercial Real Estate, Estate Planning

Status: In Good Standing Licensed: 39 Years

CONTACT

2501 Parmenter Street, Middleton, WI 53562

Nathan Dosch

International Tax, Estate Planning, Business

Status: In Good Standing

CONTACT

440 Science Drive, Madison, WI 53711

800-923-0641

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LEGAL TERMS

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

POUR-OVER WILL

A will that 'pours over' property into a trust when the will maker dies. Property left through the will must go through probate before it goes into the trust.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

TITLE COMPANY

A company that issues title insurance.

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.

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.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

BENEFICIARY

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

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

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Arena Estate Planning Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jeffrey J. Bartzen

Lawrence E. Bechler

Joe Cavitt

William F. Mundt

Rachel L Govin

Howard A. Sweet

Kathleen A. Kjorlie

Mark H T Fuhrman

Dale R. Gregory

Nathan Dosch

TIPS

LEGAL TERMS

ENTITY

POUR-OVER WILL

PROBATE COURT

TITLE COMPANY

ADEMPTION

SUMMARY PROBATE

LAPSE

BENEFICIARY

SURVIVING SPOUSE'S TRUST

SAMPLE LEGAL CASES

Tensfeldt v. Haberman

IN THE ESTATE OF DERZON

IN RE THE ESTATE OF HECK

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