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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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Jon Gealow

General Practice

Status: In Good Standing

CONTACT

2903 N. Bayview Lane, Crystal Lake, IL 60050

Arnold Kalnitz

Estate Planning, Civil Rights

Status: In Good Standing Licensed: 73 Years

CONTACT

101 N Throop St, Crystal Lake, IL 60098

Arnold B. Kalnitz

Landlord-Tenant, Government, Estate Planning, Civil Rights

Status: In Good Standing Licensed: 73 Years

CONTACT

101 N Throop St, Crystal Lake, IL 60098

Peter Knapp

Commercial Real Estate, Real Estate, Estate, Transactions

Status: In Good Standing Licensed: 31 Years

CONTACT

244 N Throop St, Crystal Lake, IL 60098

Peter Gordon Knapp

Commercial Real Estate, Real Estate, Estate, Transactions

Status: In Good Standing Licensed: 31 Years

CONTACT

244 N Throop St, Crystal Lake, IL 60098

Francis Gosser

Litigation, Estate Planning, Divorce, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

105 Van Buren Ave, Crystal Lake, IL 60098

Francis Xavier Gosser

Litigation, Estate Planning, Divorce, Collection

Status: In Good Standing Licensed: 47 Years

CONTACT

105 Van Buren Ave, Crystal Lake, IL 60098

Lee Christian Lockwood

Estate Planning, Transactions, Business, Commercial Real Estate

Status: In Good Standing Licensed: 26 Years

CONTACT

214 Main Street, Woodstock, IL 60098

800-923-0641

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LEGAL TERMS

BENEFICIARY

A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.

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.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

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.

ESTATE PLANNING

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your... (more...)

The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.

CERTIFIED COPY

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certi... (more...)

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certified copies of legal documents before permitting certain transactions. For example, a certified copy of a death certificate is required before a bank will release the funds in a deceased person's payable-on-death account to the person who has inherited them.

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

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.

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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Richmond Estate Lawyer, Illinois, page 4

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jon Gealow

Arnold Kalnitz

Arnold B. Kalnitz

Peter Knapp

Peter Gordon Knapp

Francis Gosser

Francis Xavier Gosser

Lee Christian Lockwood

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LEGAL TERMS

BENEFICIARY

ALTERNATE BENEFICIARY

CHARITABLE TRUST

BANKRUPTCY ESTATE

ESTATE PLANNING

CERTIFIED COPY

INHERITANCE TAXES

GRANTOR

EXEMPTION TRUST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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