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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
  Find out how an experienced attorney can help end calls and prevent lawsuits.
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John V. Burns

Estate Planning, Family Law, Criminal, Bankruptcy

Status: In Good Standing

CONTACT

1111 East Sumner Street, Hartford, WI 53027

Christopher M. Miller

Criminal, Estate Planning, Family Law, Insurance

Status: In Good Standing

CONTACT

1111 East Sumner Street, Hartford, WI 53027

Jynine Anne Strand

Estate, Estate Planning, Real Estate, Traffic, Insurance

Status: In Good Standing Licensed: 34 Years

CONTACT

W177 N9856 Rivercrest Dr, Germantown, WI 53022

Linda S. Vanden Heuvel

Divorce & Family Law, Accident & Injury, Criminal, Elder Law, Estate

Status: In Good Standing

CONTACT

W175N11086 Stonewood Dr, Germantown, WI 53022

Douglas Walter Lehrer

Wills & Probate, Wrongful Termination, Insurance, Accident & Injury

Status: In Good Standing Licensed: 31 Years

CONTACT

1111 E Summer St, Hartford, WI 53027

Brandon G. O'Bryon

Estate Planning, Workers' Compensation, Slip & Fall Accident, Products Liability, Landlord-Tenant

Status: In Good Standing Licensed: 20 Years

CONTACT

N95W16975 Falls Pkwy, Menomonee Falls, WI 53052

Lili Clare Behm

Litigation, Agriculture, Trusts, Contract

Status: Retired Licensed: 9 Years

CONTACT

3757 Kettle View Dr, Slinger, WI 53086

Linda R. Renard

Real Estate Other, Wills & Probate, Estate Planning, Estate

Status: In Good Standing Licensed: 37 Years

CONTACT

6749 Glacier Dr, West Bend, WI 53090

John A. Best

Lawsuit & Dispute, Estate, Divorce & Family Law, Criminal

Status: In Good Standing Licensed: 35 Years

CONTACT

305 N 7Th Avenue, West Bend, WI 53095

David Roger Streese

Power of Attorney, Estate

Status: In Good Standing Licensed: 13 Years

CONTACT

116 S Main St, West Bend, WI 53095

800-923-0641

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LEGAL TERMS

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.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

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.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

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.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living 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 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). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

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Slinger Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

John V. Burns

Christopher M. Miller

Jynine Anne Strand

Linda S. Vanden Heuvel

Douglas Walter Lehrer

Brandon G. O'Bryon

Lili Clare Behm

Linda R. Renard

John A. Best

David Roger Streese

TIPS

LEGAL TERMS

INHERITANCE TAXES

LAPSE

TRUST MERGER

PROPERTY CONTROL TRUST

GROSS ESTATE

EXEMPTION TRUST

PER STIRPES

STATUTORY SHARE

GRANT DEED

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