North Prairie Estate Lawyer, Wisconsin

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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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Paul Bucher

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Accident & Injury, Criminal, Juvenile Law, Estate Planning, Trusts

Over 100 years of combined experience at firm.

Mr. Bucher has been practicing law in Wisconsin since 1981. His area of practice includes complex litigation, criminal defense, personal injury, gover... (more)

FREE CONSULTATION

CONTACT

262-232-6699

711 W. Moreland Blvd, Waukesha, WI 53188

Peter M. Wolff

Criminal, Divorce & Family Law, Juvenile Law, DUI-DWI, Estate Planning

We Fight For The Rights Of Our Clients

Attorney Peter M. Wolff is a managing partner at Bucher, Wolff & Sonderhouse, LLP that focuses on criminal defense and family law. Before Peter was a ... (more)

FREE CONSULTATION

CONTACT

262-232-6699

711 W. Moreland Blvd. Suite 100, Waukesha, WI 53188

Jerry D. Zimmerman

Business, Wills & Probate, Wrongful Death, Trusts, Premises Liability

Status: Licensed: 46 Years

CONTACT

385 Williamstowne, Delafield, WI 53018

Thomas J Schneck

Estate Planning, Family Law, Criminal, Bankruptcy

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FREE CONSULTATION

CONTACT

707 W. Moreland Boulevard, Waukesha, WI 53188

Michael T. Steber

Wills, Wills & Probate, Corporate, Personal Injury, Lawsuit & Dispute

Status: Licensed: 41 Years

CONTACT

385 Williamstowne, Delafield, WI 53018

Frank M. Cappozzo

Estate, Divorce, Divorce & Family Law, Collection

Status: Licensed: 50 Years

CONTACT

511 North Grand Avenue, Waukesha, WI 53187

Nicholas Martinez

Immigration, Wills & Probate, DUI-DWI, Bankruptcy & Debt

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CONTACT

910 Clinton St, Waukesha, WI 53186

800-814-6700

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LEGAL TERMS

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

DEVISEE

A person or entity who inherits real estate under the terms of a will.

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

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.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

TRUSTEE POWERS

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

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

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North Prairie Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Paul Bucher

Peter M. Wolff

Jerry D. Zimmerman

Thomas J Schneck

Michael T. Steber

Frank M. Cappozzo

Nicholas Martinez

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LEGAL TERMS

ESTATE TAXES

LIVING TRUST

DEVISEE

EXECUTOR

RESIDUARY ESTATE

ENDOWMENT INSURANCE

QDOT TRUST

TRUSTEE POWERS

INCOMPETENCE

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