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Abraham Michelson
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The Michelson Law Office
203 North Lasalle Street Suite 2100 Chicago, IL 60601Â» view map
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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Includes: Estate Administration, Living Wills, Wills

Michael Schiavone

International Tax, Entertainment, Wills & Probate, Corporate

Status: In Good Standing

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4 West Main Street, Fredonia, NY 14063

Frederick Albin Larson

Real Estate, Personal Injury, Wills & Probate, Trusts

Status: In Good Standing Licensed: 48 Years

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408 W 5Th St, Jamestown, NY 14701

Lanny R. Sheffield

Residential Real Estate, Real Estate, Wills, Estate Planning

Status: In Good Standing Licensed: 48 Years

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3 Lakeview Ave, Jamestown, NY 14701

800-923-0641

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LEGAL TERMS

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to o... (more...)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

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.

TRUST CORPUS

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'

RESIDUARY BENEFICIARY

A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leav... (more...)

A person who receives any property by a will or trust that is not specifically left to another designated beneficiary. For example, if Antonio makes a will leaving his home to Edwina and the remainder of his property to Elmo, then Elmo is the residuary beneficiary.

SAMPLE LEGAL CASES

Matter of Colverd

... Spain, J. 972 Decedent died in 2000. Thereafter, petitionerâ€”decedent's unmarried companion of nearly 30 yearsâ€”commenced this proceeding in Surrogate's Court, as named executor, seeking probate of decedent's will. Three ...

MTR OF AMERICAN COMM. v. Dunn

... This appeal requires us to determine the standard applicable to a petition to vacate a probate decree brought by a nonparty to an initial probate proceeding and based upon "newlydiscovered evidence," which allegedly demonstrates that a probated will was procured through ...

Matter of Paigo

... Decedent died in June 2006 and petitioner sought to probate the will. ... Petitioner then moved for summary judgment 838 seeking dismissal of the objections and admitting the will to probate. Concluding that issues of fact existed, Surrogate's Court denied the motion. ...

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Leon Wills & Probate Lawyer, New York

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The Michelson Law Office

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Michael Schiavone

Frederick Albin Larson

Lanny R. Sheffield

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LEGAL TERMS

TESTAMENTARY TRUST

EXECUTOR

INCOMPETENCE

TRUST MERGER

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

OFFICER

REAL ESTATE AGENT

TRUST CORPUS

RESIDUARY BENEFICIARY

SAMPLE LEGAL CASES

Matter of Colverd

MTR OF AMERICAN COMM. v. Dunn

Matter of Paigo

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