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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
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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Includes: Gift Taxation

Jeffrey J. Bartzen

Real Estate, Intellectual Property, Estate Planning, Corporate

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401 Charmany Drive, Madison, WI 53719

Kathleen A. Kjorlie

Estate Planning, Wills & Probate, Residential Real Estate, Trusts

Status: Licensed: 16 Years

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8500 Greenway Blvd, Middleton, WI 53562

Dale R. Gregory

Criminal, Business, Commercial Real Estate, Estate Planning

Status: Licensed: 39 Years

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2501 Parmenter Street, Middleton, WI 53562

Mark H T Fuhrman

Tax, Estate Planning, Business Successions, Business, Estate

Status: Licensed: 31 Years

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2501 Parmenter Street, Middleton, WI 53562

Nathan Dosch

International Tax, Estate Planning, Business

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440 Science Drive, Madison, WI 53711

Thomas W. Shellander

Tax, Business, Commercial Real Estate, Estate Planning

Status: Licensed: 36 Years

CONTACT

401 Charmany Dr, Madison, WI 53705

Johanna J. Allex

Tax, Trusts, Estate Planning, Business

Status: Licensed: 25 Years

CONTACT

2997 Yarmouth Greenway Dr, Madison, WI 53711

John R. Miller

Real Estate, Trusts, Civil Rights, Estate Planning

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311 Dewitt Street, Portage, WI 53901

Elizabeth Stevens

Estate Planning, Child Custody, Civil Rights, Reorganization

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311 Dewitt Street, Portage, WI 53901

800-814-6700

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LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for ... (more...)

Irrevocable trusts designed to save on estate tax. There are several kinds; with all of them, you keep income from trust property, or use of that property, for a period of years. When the trust ends, the property goes to the final beneficiaries you've named. These trusts are for people who have enough wealth to feel comfortable giving away a substantial hunk of property. They come in three flavors: Grantor-Retained Annuity Trusts (GRATs), Grantor-Retained Unitrusts (GRUTs) and Grantor-Retained Income Trusts (GRITs).

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.

PETITION

A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elde... (more...)

A formal written request made to a court, asking for an order or ruling on a particular matter. For example, if you want to be appointed conservator for an elderly relative, you must file a petition with a court. See also complaint.

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.

BANKRUPTCY ESTATE

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankrup... (more...)

All of the property you own when you file for bankruptcy, except for most pensions and educational trusts. The trustee technically takes control of your bankruptcy estate for the duration of your case.

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

MARITAL LIFE ESTATE TRUST

See AB trust.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

PREDECEASED SPOUSE

In the law of wills, a spouse who dies before the will maker while still married to him or her.

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Dodgeville Estate Planning Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Jeffrey J. Bartzen

Kathleen A. Kjorlie

Dale R. Gregory

Mark H T Fuhrman

Nathan Dosch

Thomas W. Shellander

Johanna J. Allex

John R. Miller

Elizabeth Stevens

TIPS

LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

RESIDUARY ESTATE

PETITION

TRUSTEE

BANKRUPTCY ESTATE

SPECIAL ADMINISTRATOR

MARITAL LIFE ESTATE TRUST

ALTERNATE BENEFICIARY

PREDECEASED SPOUSE

SAMPLE LEGAL CASES

Tensfeldt v. Haberman

IN THE ESTATE OF DERZON

IN RE THE ESTATE OF HECK

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