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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
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800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Includes: Gift Taxation

Laura G Grossman

Estate Planning, Real Estate, Trusts, Wills

Status: In Good Standing

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600 Old Country Road, Room 519, Garden City, NY 11530

James L. Iannone

Real Estate, Litigation, Estate Planning, Criminal

Status: In Good Standing

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421 Willis Ave., Williston Park, NY 11596

Moriah Adamo

Bankruptcy, Estate Planning, Guardianships & Conservatorships, Litigation

Status: In Good Standing

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3 Dakota Drive, Lake Success, NY 11042

John Belesi

Family Law, Antitrust, Estate Planning, Real Estate

Status: In Good Standing

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1111 Marcus Avenue, New Hyde Park, NY 11042

Michael N. Balsamo

Estate Planning, Corporate, Contract, Business Organization

Status: In Good Standing

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1325 Franklin Avenue, Garden City, NY 11530

Bruce A. Blakeman

Banking & Finance, Estate Planning, Family Law, Real Estate

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Samuel J. Ferrara

Real Estate, Estate Planning, Family Law, Contract

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Jasleen Kaur Anand

Dispute Resolution, Banking & Finance, Estate Administration, Estate Planning

Status: In Good Standing

CONTACT

500 Old Country Road, Garden City, NY 11530

Robert Abrams

Trusts, Estate Planning, Estate, Elder Law

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

Claudio A. De Vellis

Business Successions, Gift Taxation, Estate Planning, Tax

Status: In Good Standing

CONTACT

1111 Marcus Avenue, New Hyde Park, NY 11042

800-923-0641

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LEGAL TERMS

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

IRREVOCABLE TRUST

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

INHERIT

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.

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.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, 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.

SUCCESSION

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which d... (more...)

The passing of property or legal rights after death. The word commonly refers to the distribution of property under a state's intestate succession laws, which determine who inherits property when someone dies without a valid will. When used in connection with real estate, the word refers to the passing of property by will or inheritance, as opposed to gift, grant, or purchase.

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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Carle Place Estate Planning Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Laura G Grossman

James L. Iannone

Moriah Adamo

John Belesi

Michael N. Balsamo

Bruce A. Blakeman

Samuel J. Ferrara

Jasleen Kaur Anand

Robert Abrams

Claudio A. De Vellis

TIPS

LEGAL TERMS

REMAINDERMAN

SPECIFIC BEQUEST

IRREVOCABLE TRUST

INHERIT

ENDOWMENT INSURANCE

QDOT TRUST

LIFE BENEFICIARY

TRUSTEE

SUCCESSION

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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