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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
  Our legal team can advise you on your options for negotiating a solution.
3. Practice AreasServices
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James Hutchens

Business & Trade, Estate Planning

Status: In Good Standing Licensed: 20 Years

CONTACT

1313 175th St, Homewood, IL 60430

Andrea Townson

Wills & Probate, Commercial Real Estate

Status: In Good Standing Licensed: 26 Years

CONTACT

Olympia Fields, IL 60461

Andrea Denise Townson

Commercial Real Estate, Real Estate, Wills & Probate

Status: In Good Standing Licensed: 26 Years

CONTACT

Olympia Fields, IL 60461

Peter G. Hallam

Federal Appellate Practice, Estate, Civil Rights, Transactions

Status: In Good Standing Licensed: 35 Years

CONTACT

1034 Sterling Ave, Flossmoor, IL 60422

Peter Hallam

Federal Appellate Practice, Estate, Civil Rights, Transactions

Status: In Good Standing Licensed: 35 Years

CONTACT

1034 Sterling Ave, Flossmoor, IL 60422

Charles Thomas Ryan

Real Estate, Litigation, Estate Planning, Civil Rights

Status: In Good Standing Licensed: 37 Years

CONTACT

18141 Dixie Hwy, Flossmoor, IL 60430

Margaret L. Tromter Valerius

Commercial Real Estate, Real Estate, Estate Planning, Transactions

Status: In Good Standing Licensed: 35 Years

CONTACT

13 Danube Way, Olympia Fields, IL 60461

Margaret Valerius

Commercial Real Estate, Real Estate, Estate Planning, Transactions

Status: In Good Standing Licensed: 35 Years

CONTACT

13 Danube Way, Olympia Fields, IL 60461

James E. Molenaar

Real Estate, Federal Appellate Practice, Estate Planning, Business

Status: In Good Standing Licensed: 60 Years

CONTACT

3546 Ridge Rd, Lansing, IL 60438

N. Richard Stelter

Commercial Real Estate, Trusts, Corporate, Contract

Status: In Good Standing Licensed: 63 Years

CONTACT

165 W 10Th St, Chicago Heights, IL 60411

800-923-0641

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LEGAL TERMS

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

IRREVOCABLE TRUST

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

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

MINERAL RIGHTS

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.

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).

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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Chicago Heights Estate Lawyer, Illinois, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James Hutchens

Andrea Townson

Andrea Denise Townson

Peter G. Hallam

Peter Hallam

Charles Thomas Ryan

Margaret L. Tromter Valerius

Margaret Valerius

James E. Molenaar

N. Richard Stelter

TIPS

LEGAL TERMS

CONTINGENT BENEFICIARY

TRUSTEE POWERS

IRREVOCABLE TRUST

ESTATE PLANNING

REAL ESTATE AGENT

INHERITANCE TAXES

RESIDUARY ESTATE

MINERAL RIGHTS

GRANTOR RETAINED INCOME TRUST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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