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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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James S. Stanis

Estate, Pension & Benefits, Tax

Status: In Good Standing Licensed: 49 Years

CONTACT

3681 Grayhawk Dr, Algonquin, IL 60102

Sandra S. Kerrick

Litigation, Estate Planning, Transactions, Business & Trade

Status: In Good Standing Licensed: 50 Years

CONTACT

4 N Walkup Ave, Crystal Lake, IL 60014

James Guisty Militello

Commercial Real Estate, Estate Planning, Transactions, Business

Status: In Good Standing

CONTACT

24 Grant St, Crystal Lake, IL 60014

Jill J. Struck

Litigation, Estate Planning, Transactions, Business & Trade, Commercial Real Estate

Status: In Good Standing

CONTACT

24 Grant St, Crystal Lake, IL 60014

James Militello

Commercial Real Estate, Estate Planning, Transactions, Business

Status: In Good Standing

CONTACT

24 Grant St, Crystal Lake, IL 60014

Thomas Chester Zanck

Real Estate, Lawsuit & Dispute, Estate, Accident & Injury

Status: In Good Standing Licensed: 56 Years

CONTACT

40 Brink Street, Crystal Lake, IL 60014

Jeffrey Edward Schulze

Estate, Divorce, Criminal, Business

Status: In Good Standing

CONTACT

1142 N Main St, Barrington, IL 60102

Jeffrey Schulze

Estate, Divorce, Criminal, Business

Status: In Good Standing

CONTACT

1142 N Main St, Barrington, IL 60102

Kevin W. Bruning

Real Estate, Litigation, Estate Planning, Divorce & Family Law

Status: In Good Standing Licensed: 37 Years

CONTACT

333 Commerce Dr, Crystal Lake, IL 60014

David Leo Waggoner

Commercial Real Estate, Estate Planning, Transactions, Business, Elder Law

Status: In Good Standing Licensed: 49 Years

CONTACT

4 North Walkup Ave, Crystal Lake, IL 60014

800-923-0641

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LEGAL TERMS

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.

CURATOR

See conservator.

NET ESTATE

The value of all property owned at death less liabilities or debts.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

PERSONAL PROPERTY

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.

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.

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.

POWER OF APPOINTMENT

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust o... (more...)

The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library or park, depending on the trustee's assessment of need.

FUNDING A TRUST

Transferring ownership of property to a trust.

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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Huntley Estate Lawyer, Illinois, page 3

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

James S. Stanis

Sandra S. Kerrick

James Guisty Militello

Jill J. Struck

James Militello

Thomas Chester Zanck

Jeffrey Edward Schulze

Jeffrey Schulze

Kevin W. Bruning

David Leo Waggoner

TIPS

LEGAL TERMS

LETTERS TESTAMENTARY

CURATOR

NET ESTATE

CHARITABLE TRUST

PERSONAL PROPERTY

MINERAL RIGHTS

ADEMPTION

POWER OF APPOINTMENT

FUNDING A TRUST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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