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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.
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Includes: Gift Taxation

Anthony Vincent Falcone

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Estate Planning

Mr. Falcone has extensive knowledge in estate planning for families of all ages and all income levels, Medicaid Asset Protection for seniors, Special ... (more)

CONTACT

631-319-7770

150 Motor Parkway, Hauppauge, NY 11788

Elisha Wellerstein

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Estate, Elder Law, Trusts, Wills & Probate, Estate Planning

Elisha is the founding principal of Wellerstein Law Group, P.C. With his years of experience as an accountant and business consultant, Elisha is able ... (more)

FREE CONSULTATION

CONTACT

718-473-0699

380 Hempstead Ave, West Hempstead, NY 11552

Jasleen Kaur Anand

Dispute Resolution, Banking & Finance, Estate Administration, Estate Planning

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500 Old Country Road, Garden City, NY 11530

Laura G Grossman

Estate Planning, Real Estate, Trusts, Wills

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FREE CONSULTATION

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600 Old Country Road, Room 519, Garden City, NY 11530

Elena Villafane

Family Law, Contract, Trusts, Estate Planning

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FREE CONSULTATION

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One School Street, Glen Cove, NY 11542

Eliot M. Rudick

Corporate, Estate Planning, Family Law, Real Estate

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150 Vanderbilt Motor Parkway, Hauppauge, NY 11788

Arthur Goldstein

Land Use & Zoning, Litigation, Estate Planning, Family Law

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18 West Carver Street, Huntington, NY 11743

Roger D. Ramme

Defamation & Slander, Estate Planning, Real Estate, Tax

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FREE CONSULTATION

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18 West Carver Street, Huntington, NY 11743

James F. Misiano

Estate Planning, Personal Injury, Real Estate, Trusts

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FREE CONSULTATION

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510 Broadhollow Road, Melville, NY 11747

David C. Jacobson

Corporate Tax, Gift Taxation, Estate Planning, Elder Law

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CONTACT

445 Broad Hollow Road, Melville, NY 11747

800-814-6700

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LEGAL TERMS

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

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.

REMAINDERMAN

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderma... (more...)

Someone who will inherit property in the future. For instance, if someone dies and leaves his home 'to Alma for life, and then to Barry,' Barry is a remainderman because he will inherit the home in the future, after Alma dies.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

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.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

ADMINISTRATRIX

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male... (more...)

An outdated term for a female administrator -- the person appointed by a court to handle probate on behalf of someone who died without a will. Now, whether male or female, this person is called the administrator.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

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.

SAMPLE LEGAL CASES

Schneider v. Finmann

... maintain an action for legal malpractice. We now reverse and reinstate plaintiff's claim. Strict privity, as applied in the context of estate planning malpractice actions, is a minority rule in the United States. [1] In New York, a third ...

Fielding v. Kupferman

... The documents at issue in Bishop were estate planning instruments executed by the plaintiff who believed that he was giving his wife a life estate and was not limiting his access to his life savings (Bishop, 33 AD3d 497, 501 [2006], affd 9 NY3d 910 [2007]). ...

Kram Knarf, LLC v. Djonovic

... The client's malpractice complaint was silent as to how the attorneys misled him, what they failed to explain to him concerning the estate planning documents he executed, and which of his instructions those documents did not reflect (33 AD3d at 498-499). ...

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Islandia Estate Planning Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Anthony Vincent Falcone

Elisha Wellerstein

Jasleen Kaur Anand

Laura G Grossman

Elena Villafane

Eliot M. Rudick

Arthur Goldstein

Roger D. Ramme

James F. Misiano

David C. Jacobson

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LEGAL TERMS

SUCCESSOR TRUSTEE

ALTERNATE BENEFICIARY

REMAINDERMAN

ACCUMULATION TRUST

SURVIVING SPOUSE'S TRUST

BEQUEATH

ADMINISTRATRIX

SPRINKLING TRUST

PER STIRPES

SAMPLE LEGAL CASES

Schneider v. Finmann

Fielding v. Kupferman

Kram Knarf, LLC v. Djonovic

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