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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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1. Abraham Michelson Chicago, IL
  Attorney at Law - Illinois, 2013
  Thomas Cooley, JD, 2004
2. AboutAbraham Michelson
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Fred Larbi Otchere

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Estate

I am Fred Otchere. I am licensed to practice law in the state of Illinois. I specialize in Estate Planning: Wills, Trusts, Power of Attorney... (more)

CONTACT

847-331-2273

2211 Cardinal Ct, Gurnee, IL 60031

Howard Augustus

Divorce & Family Law, Family Law, Mediation, Estate, Real Estate

Status: In Good Standing Licensed: 54 Years

CONTACT

1800 Nations Drive, Gurnee, IL 60031

Shyama Parikh

Estate, Family Law, Divorce, Transactions

Status: In Good Standing Licensed: 22 Years

CONTACT

325 Washington St, Waukegan, IL 60085

James Carl Hartman

Criminal, Real Estate, Estate, Bankruptcy

Status: In Good Standing Licensed: 22 Years

CONTACT

One North County Street, Waukegan, IL 60085

Leeann Lyn Gurysh

Municipal, Public Schools, Estate Planning, Estate

Status: In Good Standing

CONTACT

111 North County Street, Waukegan, IL 60085

Brian Grach

Tax, Municipal, Estate Planning, Business & Trade

Status: In Good Standing

CONTACT

111 North County Street, Waukegan, IL 60085

Leeann Gurysh

Municipal, Public Schools, Estate Planning, Estate

Status: In Good Standing

CONTACT

111 North County Street, Waukegan, IL 60085

Ronald Wayne Gilbert

Bankruptcy, Estate Planning

Status: In Good Standing Licensed: 48 Years

CONTACT

1321 Grand Ave, Waukegan, IL 60085

Gary Thompson

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

103 S. Greenleaf Street, Gurnee, IL 60031

Saul Ferris

Wills & Probate, Workers' Compensation, Personal Injury, Medical Malpractice

Status: In Good Standing

CONTACT

103 S. Greenleaf Street, Gurnee, IL 60031

800-923-0641

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LEGAL TERMS

MARITAL LIFE ESTATE TRUST

See AB trust.

MINERAL RIGHTS

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral right... (more...)

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.

INVENTORY

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or admini... (more...)

A complete listing of all property owned by a deceased person at the time of death. The inventory is filed with the court during probate. The executor or administrator of the estate is responsible for making and filing the inventory.

NET ESTATE

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

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

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.

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

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.

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.

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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Waukegan Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Fred Larbi Otchere

Howard Augustus

Shyama Parikh

James Carl Hartman

Leeann Lyn Gurysh

Brian Grach

Leeann Gurysh

Ronald Wayne Gilbert

Gary Thompson

Saul Ferris

TIPS

LEGAL TERMS

MARITAL LIFE ESTATE TRUST

MINERAL RIGHTS

INVENTORY

NET ESTATE

TRUSTEE

PROPERTY CONTROL TRUST

NONPROBATE

TRUST MERGER

RESIDUARY ESTATE

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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