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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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800-824-6431
1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Matthew Livingston

Estate, Real Estate, Business Organization, Wills & Probate, Guardianships & Conservatorships

Matthew Livingston is a member of the Illinois Bar Association, the Chicago Bar Association, and the Illinois Real Estate Lawyers Association. Knowled... (more)

FREE CONSULTATION

CONTACT

847-544-6657

2700 Patriot Blvd, Glenview, IL 60026

Arnold D. Goldstein

✓ VERIFIED

Divorce & Family Law, Estate

For more than four decades, Arnold Goldstein has provided results-focused advocacy for a broad range of family law issues. During his tenure, Mr. Gold... (more)

CONTACT

847-926-0300

707 Skokie Blvd, Northbrook, IL 60062

Betsy Kadus

Wills & Probate, Government Agencies, Elder Law, Estate Planning

Status: In Good Standing

FREE CONSULTATION

CONTACT

500 Skokie Blvd., Northbrook, IL 60062

Mimi L. Turney

Business Organization, Estate Planning

Status: In Good Standing

CONTACT

707 Skokie Blvd # 500, Northbrook, IL 60062

Melanie B. Hoffman

Estate Administration, Estate Planning, Guardianships & Conservatorships

Status: In Good Standing

CONTACT

One Northfield Plaza, Winnetka, IL 60093

Victor K Oraham

Estate, Trusts, Estate Planning, Personal Injury

Status: In Good Standing Licensed: 41 Years

CONTACT

Serving Cook and Neighboring Counties, Glencoe, IL 60022

Howard Gopman

Business, Estate Planning, Accident & Injury, Criminal

Status: In Good Standing Licensed: 59 Years

CONTACT

One Northfield Plaza, Northfield, IL 60093

James J Wochner

International, Estate Planning, Estate, Business Organization

Status: In Good Standing Licensed: 53 Years

CONTACT

707 Skokie Blvd, Northbrook, IL 60062

Andrew W. Holstine

Estate Planning, Business Organization

Status: In Good Standing

CONTACT

707 Skokie Blvd, Northbrook, IL 60062

Heather Rose

Estate Planning, Estate

Status: In Good Standing Licensed: 24 Years

CONTACT

1625 Shermer Road, Northbrook, IL 60062

800-923-0641

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LEGAL TERMS

DEED OF TRUST

See trust deed.

RULE AGAINST PERPETUITIES

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For examp... (more...)

An exceedingly complex legal doctrine that limits the amount of time that property can be controlled after death by a person's instructions in a will. For example, a person would not be allowed to leave property to her husband for his life, then to her children for their lives, then to her grandchildren. The gift would potentially go to the grandchildren at a point too remote in time.

PROBATE

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased pers... (more...)

The court process following a person's death that includes proving the authenticity of the deceased person's will appointing someone to handle the deceased person's affairs identifying and inventorying the deceased person's property paying debts and taxes identifying heirs, and distributing the deceased person's property according to the will or, if there is no will, according to state law. Formal court-supervised probate is a costly, time-consuming process -- a windfall for lawyers -- which is best avoided if possible.

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

INTESTATE SUCCESSION

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

WARRANTY DEED

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

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.

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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Northbrook Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Matthew Livingston

Arnold D. Goldstein

Betsy Kadus

Mimi L. Turney

Melanie B. Hoffman

Victor K Oraham

Howard Gopman

James J Wochner

Andrew W. Holstine

Heather Rose

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LEGAL TERMS

DEED OF TRUST

RULE AGAINST PERPETUITIES

PROBATE

GENERATION-SKIPPING TRANSFER TAX

INTESTATE SUCCESSION

RESIDUARY ESTATE

SPECIAL ADMINISTRATOR

WARRANTY DEED

AB TRUST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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