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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
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Vincent C. Machroli

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Divorce & Family Law, Paternity, Estate Planning, Bankruptcy, Criminal

OVER 30 YEARS OF EXPERIENCE IN FAMILY LAW, ESTATE PLANNING, REAL ESTATE, AND BANKRUPTCY LAW At the Law Office of Vincent C. Machroli, P.C., we are ... (more)

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CONTACT

708-449-7404

4415 Harrison St, Hillside, IL 60162

Thomas Phillip Boggess

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Estate, Contract, Wills & Probate, Business Organization

T. Phillip Boggess is the principle in his law firm, the Law Office of T. Phillip Boggess. The focus of the law firm and of his practice is to help c... (more)

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CONTACT

630-429-9650

106 West Calendar Court, La Grange, IL 60525

Matthew J Ryan

Bankruptcy, Criminal, Estate Planning, Family Law

Status: In Good Standing

FREE CONSULTATION

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3101 N Rose Street, Franklin Park, IL 60131

Paul J. Prybylo

Residential Real Estate, Title Insurance, Commercial Real Estate, Business, Wills & Probate

Status: In Good Standing

FREE CONSULTATION

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821 Garfield Street, Oak Park, IL 60304

Joanne F. Hurley

Construction Contracts, Estate, Family Medical Leave Act (FMLA), Business Organization, Business

Status: In Good Standing

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1100 West Lake Street, Oak Park, IL 60301

Lance Taylor

Real Estate, Wills & Probate, Estate Planning, Estate

Status: In Good Standing Licensed: 44 Years

CONTACT

1010 Lake St, Oak Park, IL 60301

Lance Doyl Taylor

Real Estate, Lawsuit & Dispute, Estate Planning, Estate

Status: In Good Standing Licensed: 44 Years

CONTACT

1010 Lake St, Oak Park, IL 60301

Anthony Ferdinand Spina

Litigation, Estate Planning, Corporate, Personal Injury

Status: In Good Standing

CONTACT

7610 W North Ave, Elmwood Park, IL 60707

James Thomas Mcguire

Wills & Probate, Transactions, Business & Trade, Contract

Status: In Good Standing

CONTACT

7610 W. North Avenue, Elmwood Park, IL 60707

Elisa M. Allie

Commercial Real Estate, Estate Planning, Estate, Transactions

Status: In Good Standing Licensed: 30 Years

CONTACT

104 N Oak Park Ave, Oak Park, IL 60301

800-923-0641

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LEGAL TERMS

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.

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.

FAMILY POT TRUST

See pot trust.

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.'

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.

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.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

PROBATE COURT

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate cour... (more...)

A specialized court or division of a state trial court that considers only cases concerning the distribution of deceased persons' estate. Called 'surrogate court' in New York and several other states, this court normally examines the authenticity of a will -- or if a person dies intestate, figures out who receives her property under state law. It then oversees a procedure to pay the deceased person's debts and to distribute her assets to the proper inheritors. See probate.

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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Maywood Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Vincent C. Machroli

Thomas Phillip Boggess

Matthew J Ryan

Paul J. Prybylo

Joanne F. Hurley

Lance Taylor

Lance Doyl Taylor

Anthony Ferdinand Spina

James Thomas Mcguire

Elisa M. Allie

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LEGAL TERMS

INHERIT

POWER OF APPOINTMENT

FAMILY POT TRUST

TRUST CORPUS

DISINHERIT

DOWER AND CURTESY

GENERATION-SKIPPING TRUST

ALTERNATE BENEFICIARY

PROBATE COURT

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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