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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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Mathew Roy Patrick Perrone

Real Estate, Patent, Copyright, Estate Planning

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FREE CONSULTATION

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210 South Main Street, Algonquin, IL 60102

Karen Lavin

Estate Planning, Family Law, Divorce, Divorce & Family Law

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FREE CONSULTATION

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850 South McHenry Ave, Ste B, Crystal Lake, IL 60014

Melissa J. Wagner

Trusts, Family Law, Bankruptcy, Personal Injury, Adoption

Status: Licensed: 17 Years

CONTACT

960 Route 22, Fox River Grove, IL 60021

Jeffrey Edward Schulze

Estate, Divorce, Criminal, Business

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1142 N Main St, Barrington, IL 60102

Michael Torchalski

Business & Trade, Estate Planning, Transactions, Wills & Probate, Business

Status: Licensed: 45 Years

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820 E Terra Cotta Ave, Crystal Lake, IL 60014

Thomas Chester Zanck

Real Estate, Lawsuit & Dispute, Estate, Accident & Injury

Status: Licensed: 57 Years

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40 Brink Street, Crystal Lake, IL 60014

Jill J. Struck

Litigation, Estate Planning, Transactions, Business & Trade, Commercial Real Estate

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24 Grant St, Crystal Lake, IL 60014

James Militello

Commercial Real Estate, Estate Planning, Transactions, Business, Environmental Law

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CONTACT

24 Grant St, Crystal Lake, IL 60014

Michael Coppedge

Business & Trade, Civil Rights, Estate Planning, Federal Appellate Practice, Real Estate

Status: Licensed: 39 Years

CONTACT

20 Grant Street, Crystal Lake, IL 60014

David Leo Waggoner

Commercial Real Estate, Estate Planning, Transactions, Business, Elder Law

Status: Licensed: 49 Years

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4 North Walkup Ave, Crystal Lake, IL 60014

800-814-6700

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LEGAL TERMS

OFFICER

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operation... (more...)

A person elected by a profit or nonprofit corporation's board of directors, or by the manager of a limited liability company, to manage the day-to-day operations of the organization. Officers generally hold titles such as President or Treasurer. Many states and most corporate bylaws or LLC operating agreements require a corporation or LLC to have a president, secretary and treasurer. Election of a vice president may be required by state law.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

SPECIAL ADMINISTRATOR

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a spe... (more...)

(1) In the law of wills and estates, a person appointed by the court to take charge of only a designated portion of an estate during probate. For example, a special administrator with particular expertise on art might be appointed to oversee the probate of a wealthy person's art collection, but not the entire estate. (2) A person appointed to be responsible for a deceased person's property for a limited time or during an emergency, such as a challenge to the will or to the qualifications of the named executor. In such cases, the special administrator's duty is to maintain and preserve the estate, not necessarily to take control of the probate process

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

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.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

CREDIT SHELTER TRUST

See AB trust.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

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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Cary Estate Lawyer, Illinois

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Mathew Roy Patrick Perrone

Karen Lavin

Melissa J. Wagner

Jeffrey Edward Schulze

Michael Torchalski

Thomas Chester Zanck

Jill J. Struck

James Militello

Michael Coppedge

David Leo Waggoner

TIPS

LEGAL TERMS

OFFICER

SURVIVING SPOUSE'S TRUST

SPECIAL ADMINISTRATOR

AB TRUST

IRREVOCABLE TRUST

QTIP TRUST

WARRANTY DEED

CREDIT SHELTER TRUST

FAMILY ALLOWANCE

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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