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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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Robert L. Renfro

Residential Real Estate, Commercial Real Estate, Estate Administration, Guardianships & Conservatorships

Status: Licensed: 35 Years

CONTACT

1755 S Naperville Rd, Wheaton, IL 60189

Steven Mack

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

Status: Licensed: 47 Years

CONTACT

449 Taft Avenue, Glen Ellyn, IL 60137

David Haskins

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

Status: Licensed: 19 Years

CONTACT

2021 Midwest Rd., Oak Brook, IL 60523

Lawrence Oldfield

Criminal, Collection, Litigation, Estate Planning

Status: Licensed: 52 Years

CONTACT

2021 Midwest Rd., Oak Brook, IL 60523

Joseph Wleklinski

Tax, Wills & Probate, Divorce & Family Law, Business & Trade, International Tax

Status: Licensed: 37 Years

CONTACT

1900 Spring Rd, Hinsdale, IL 60523

Ronald Cicinelli

Employee Rights, Civil Rights, Estate Planning, Litigation

Status: Licensed: 20 Years

CONTACT

17W300 22Nd St, Villa Park, IL 60181

Jeffrey Hucek

Lawsuit & Dispute, Estate Planning, Estate, Business

Status:

CONTACT

2001 Spring Road, Oak Brook, IL 60523

John Maurice Caluwaert

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

Status: Licensed: 54 Years

CONTACT

579 West North Avenue, Elmhurst, IL 60126

Ralph Tellefsen

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

Status: Licensed: 45 Years

CONTACT

172 S Berkley Ave, Elmhurst, IL 60126

Edmund Lanphier

Estate Planning, Divorce, DUI-DWI, Civil Rights

Status: Licensed: 62 Years

CONTACT

568 Spring Rd, Elmhurst, IL 60126

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LEGAL TERMS

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

CURATOR

See conservator.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving 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 capita, Julie and the two grandchildren will each take a third. If, on the other hand, 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).

IN TERROREM

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement... (more...)

Latin meaning 'in fear.' This phrase is used to describe provisions in contracts or wills meant to scare a person into complying with the terms of the agreement. For example, a will might state that an heir will forfeit her inheritance if she challenges the validity of the will. Of course, if the will is challenged and found to be invalid, then the clause itself is also invalid and the heir takes whatever she would have inherited if there were no will.

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.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

TITLE COMPANY

A company that issues title insurance.

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

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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Lombard Estate Lawyer, Illinois, page 5

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Robert L. Renfro

Steven Mack

David Haskins

Lawrence Oldfield

Joseph Wleklinski

Ronald Cicinelli

Jeffrey Hucek

John Maurice Caluwaert

Ralph Tellefsen

Edmund Lanphier

TIPS

LEGAL TERMS

SPENDTHRIFT TRUST

CURATOR

PER CAPITA

IN TERROREM

SURVIVING SPOUSE'S TRUST

EXEMPTION TRUST

GENERATION-SKIPPING TRUST

TITLE COMPANY

REAL ESTATE AGENT

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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