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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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Martin C. Kelley

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

Heritage Bank Building, 1535 West Schaumburg Road, Schaumburg, IL 60194

John Pankau

Wills & Probate, Estate Planning, Elder Law, Transactions

Status: In Good Standing Licensed: 40 Years

FREE CONSULTATION

CONTACT

105 East Irving Park Road, Itasca, IL 60143

David Robert Schlueter

Estate Planning, Estate, Transactions, Personal Injury

Status: In Good Standing Licensed: 44 Years

CONTACT

401 W Irving Park Rd, Itasca, IL 60143

David Schlueter

Estate Planning, Estate, Transactions, Personal Injury

Status: In Good Standing Licensed: 44 Years

CONTACT

401 W Irving Park Rd, Itasca, IL 60143

Michael Foltz

Other, Trusts, Estate Planning

Status: In Good Standing Licensed: 43 Years

CONTACT

500 Park Blvd, Itasca, IL 60143

Armond Dinverno

Estate Planning

Status: In Good Standing Licensed: 43 Years

CONTACT

500 Park Boulevard, Itasca, IL 60143

Armond Alfred Dinverno

Estate Planning

Status: In Good Standing Licensed: 43 Years

CONTACT

500 Park Boulevard, Itasca, IL 60143

Lee Garr

Divorce & Family Law, Estate Planning, Transactions, Corporate

Status: In Good Standing Licensed: 54 Years

CONTACT

50 Turner Avenue, Elk Grove Village, IL 60007

George Knickerbocker

Municipal, Estate Planning

Status: In Good Standing Licensed: 53 Years

CONTACT

901 Wellington Ave, Elk Grove Village, IL 60007

George Burton Knickerbocker

Municipal, Estate Planning

Status: In Good Standing Licensed: 53 Years

CONTACT

901 Wellington Ave, Elk Grove Village, IL 60007

800-923-0641

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LEGAL TERMS

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

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.

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.

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.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

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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Itasca Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Martin C. Kelley

John Pankau

David Robert Schlueter

David Schlueter

Michael Foltz

Armond Dinverno

Armond Alfred Dinverno

Lee Garr

George Knickerbocker

George Burton Knickerbocker

TIPS

LEGAL TERMS

PROPERTY CONTROL TRUST

DOWER AND CURTESY

POWER OF APPOINTMENT

ENDOWMENT INSURANCE

BANKRUPTCY ESTATE

DISINHERIT

BYPASS TRUST

WARRANTY DEED

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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