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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
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Robert J. White

Wills & Probate, Criminal, Personal Injury, Accident & Injury

Status: Retired

FREE CONSULTATION

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Cornwallville, NY 12418

Janet M. Thayer

Commercial Real Estate, Estate Administration, Elder Law, Business Organization

Status: In Good Standing

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226 Great Oaks Boulevard, Albany, NY 12203

John L. Orfan

Estate Planning, Real Estate, Litigation, Personal Injury

Status: In Good Standing

FREE CONSULTATION

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100 Great Oaks Boulevard, Albany, NY 12203

Timothy F Wilkens

Real Estate, Estate Planning, Environmental Law, Family Law

Status: In Good Standing

FREE CONSULTATION

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215 State Street, Schenectady, NY 12301

Michael E Cusack

Estate Planning, Environmental Law, Contract, Business Organization

Status: In Good Standing

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Executive Woods, 5 Palisades Drive, Albany, NY 12205

Clifford C. Rohde

Real Estate, Mediation, Estate, Divorce & Family Law

Status: In Good Standing

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1540 Central Ave, Albany, NY 12205

Sonya del Peral

Corporate, Education, Estate Planning, Intellectual Property

Status: In Good Standing

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Executive Woods, 5 Palisades Drive, Albany, NY 12205

Morgen M. Bowers

Corporate, Education, Estate Planning, Intellectual Property

Status: In Good Standing

CONTACT

Executive Woods, 5 Palisades Drive, Albany, NY 12205

Eric A Tepper

Traffic, Wills, Family Law, Corporate

Status: In Good Standing

CONTACT

113 Saratoga Road, Route 50, Schenectady, NY 12302

Danielle R Lange

Estate, Criminal, Business, Divorce & Family Law

Status: In Good Standing Licensed: 19 Years

CONTACT

114C Essex Cirlce, Guilderland, NY 12084

800-923-0641

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LEGAL TERMS

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

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.

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.

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

CERTIFICATION OF TRUST

See abstract of trust.

NET ESTATE

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

TRUSTEE POWERS

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

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

In 1986 Markatos Realtors, Inc. (hereinafter Markatos), Rutger's immediate predecessor in interest, along with Brookside Park Properties, Inc., the defendant's predecessor in interest, executed a written indenture providing, among other things, for mutual easements designating 12 ...

Colasacco v. Robert E. Lawrence Real Estate

In October 2002 the defendant Christopher DiCorato, a real estate agent employed by the defendant Robert E. Lawrence Real Estate (hereinafter Lawrence, and hereinafter together the defendants), met with the plaintiffs and showed them a parcel of vacant property that was ...

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

In any event, plaintiff fails, as a matter of law, to demonstrate any injury for which it is entitled to hold defendant sponsors liable. Although the purchase agreement obligated defendant sponsors to provide plaintiff with a building and unit constructed "in a good and workman-like ...

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Berne Estate Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Robert J. White

Janet M. Thayer

John L. Orfan

Timothy F Wilkens

Michael E Cusack

Clifford C. Rohde

Sonya del Peral

Morgen M. Bowers

Eric A Tepper

Danielle R Lange

TIPS

LEGAL TERMS

BYPASS TRUST

QTIP TRUST

INHERITANCE TAXES

ADEMPTION

DOWER AND CURTESY

AUGMENTED ESTATE

CERTIFICATION OF TRUST

NET ESTATE

TRUSTEE POWERS

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

Colasacco v. Robert E. Lawrence Real Estate

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

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