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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.
3. Practice AreasServices
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Andrew W. Schmidt

Real Estate, Divorce, Power of Attorney, Guardianships & Conservatorships, Estate

Status: In Good Standing

CONTACT

123 Grand Avenue, Wausau, WI 54403

Daniella Mogg

Trusts, Civil Rights, Contract, Credit & Debt

Status: In Good Standing Licensed: 15 Years

CONTACT

Stevens Point, WI 54481

Alfonso Jose Borgen

Family Law, Estate Planning, Other

Status: In Good Standing Licensed: 9 Years

CONTACT

Stevens Point, WI 54481

David A. Ray

Landlord-Tenant, Traffic, Lawsuit & Dispute, Estate

Status: In Good Standing

CONTACT

2900 Hoover Rd, Stevens Point, WI 54481

Heather M. Huebner

Real Estate, Estate, Business

Status: In Good Standing

CONTACT

1257 Main St, Stevens Point, WI 54481

Torren K. Pies

Landlord-Tenant, Traffic, Dispute Resolution, Estate

Status: In Good Standing Licensed: 40 Years

CONTACT

1257 Main Street, Stevens Point, WI 54481

Mark S. Henkel

Traffic, Lawsuit & Dispute, Wills & Probate, Employment

Status: In Good Standing

CONTACT

3133 Church St, Stevens Point, WI 54481

Stanton E. Thomas

Real Estate, Estate, Business

Status: In Good Standing Licensed: 35 Years

CONTACT

106 Mcdill Ave, Plover, WI 54467

Michael J. Lauterbach

Power of Attorney, Litigation, Estate Planning, Civil & Human Rights, Business

Status: In Good Standing Licensed: 18 Years

CONTACT

2417A Post Road, Stevens Point, WI 54481

Scott Alexander Swid

Real Estate, Estate, Consumer Rights, Contract, Business

Status: In Good Standing Licensed: 29 Years

CONTACT

415 Orbiting Dr, Mosinee, WI 54455

800-923-0641

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LEGAL TERMS

NET ESTATE

The value of all property owned at death less liabilities or debts.

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.

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.

TRUSTEE POWERS

The provisions in a trust document defining what the trustee may and may not do.

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.

KINDRED

Under some state's probate codes, all relatives of a deceased person.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property per capita, Julie and the two grandchildren will each take a third. If, on the other hand, Fred's will states that heirs of a deceased beneficiary are to receive the property per stirpes, Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation).

ABSTRACT OF TRUST

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract... (more...)

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract of trust to a financial organization or other institution to prove that you have established a valid living trust, without revealing specifics that you want to keep private. In some states, this document is called a 'certification of trust.'

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Rosholt Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Andrew W. Schmidt

Daniella Mogg

Alfonso Jose Borgen

David A. Ray

Heather M. Huebner

Torren K. Pies

Mark S. Henkel

Stanton E. Thomas

Michael J. Lauterbach

Scott Alexander Swid

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LEGAL TERMS

NET ESTATE

RESIDUARY BENEFICIARY

REAL ESTATE AGENT

TRUSTEE POWERS

EXEMPTION TRUST

KINDRED

ADEMPTION

PER CAPITA

ABSTRACT OF TRUST

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