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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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Scott A. Kissinger

Estate Planning

Status: In Good Standing

CONTACT

703 5th Avenue, Eau Claire, WI 54702

James C. Ritland

Personal Injury, Accident & Injury, Car Accident, Estate, Mass Torts

Status: In Good Standing Licensed: 46 Years

FREE CONSULTATION

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320 Main Street, Black River Falls, WI 54615

Frederic James Berns

Landlord-Tenant, Traffic, Lawsuit & Dispute, Estate

Status: In Good Standing Licensed: 53 Years

CONTACT

18472 Hobson Street, Whitehall, WI 54773

Michael Joseph Ball

Military, Administrative Law, International Other, Wills

Status: In Good Standing Licensed: 10 Years

CONTACT

1644 S 11Th Ave, Sparta, WI 54656

Mark R. Franklin

Estate, Lawsuit & Dispute, Real Estate, Collection, Wills & Probate

Status: In Good Standing

CONTACT

23664 Washington St, Independence, WI 54747

Zelotes S. Rice

Wills & Probate, Labor Law, Commercial Real Estate

Status: Inactive Licensed: 75 Years

CONTACT

Sparta, WI 54656

Daniel C. Arndt

Accident & Injury, Real Estate, Estate, Workers' Compensation

Status: In Good Standing Licensed: 40 Years

CONTACT

101 W Oak St, Sparta, WI 54656

Nikki C. Swayne

Commercial Real Estate, Wills, Elder Law

Status: In Good Standing Licensed: 15 Years

CONTACT

111 W Oak St, Sparta, WI 54656

Robert J. Mubarak

Real Estate, Estate, Divorce & Family Law, Accident & Injury

Status: In Good Standing Licensed: 52 Years

CONTACT

917 Superior Ave, Tomah, WI 54660

David Shudlick

Real Estate, Wills & Probate, Trusts, Criminal

Status: In Good Standing Licensed: 46 Years

CONTACT

1501 Kilbourn, Tomah, WI 54660

800-923-0641

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LEGAL TERMS

FAMILY POT TRUST

See pot trust.

CERTIFICATION OF TRUST

See abstract of trust.

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.

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.

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.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

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Merrillan Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Scott A. Kissinger

James C. Ritland

Frederic James Berns

Michael Joseph Ball

Mark R. Franklin

Zelotes S. Rice

Daniel C. Arndt

Nikki C. Swayne

Robert J. Mubarak

David Shudlick

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LEGAL TERMS

FAMILY POT TRUST

CERTIFICATION OF TRUST

PROPERTY CONTROL TRUST

ALTERNATE BENEFICIARY

DISINHERIT

SPENDTHRIFT TRUST

PREDECEASED SPOUSE

EXEMPTION TRUST

AB TRUST

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