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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
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Lawrence E. Bechler

Land Use & Zoning, Real Estate, Wills & Probate, Estate Planning

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33 East Main Street, Madison, WI 53703

Bryan D. Woods

Corporate, Litigation, Wills & Probate, Real Estate, Divorce & Family Law

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33 East Main Street, Madison, WI 53703

Rachel L Govin

Estate Planning, Family Law, Litigation, Real Estate

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701 E. Washington Avenue, Madison, WI 53703

Eve E. Dennison Pollock

Family Law, Banking & Finance, Wills & Probate, Government Agencies

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110 E. Main St., Madison, WI 53703

Linda Roberson

Family Law, Wills & Probate, Civil Rights, Wills

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131 West Wilson Street, Madison, WI 53703

Joe Cavitt

Family Law, Employment, Estate Planning, Real Estate

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FREE CONSULTATION

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33 East Main Street, Madison, WI 53703

Howard A. Sweet

Wills & Probate, Corporate, Business Organization, Estate Planning

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FREE CONSULTATION

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33 East Main Street, Madison, WI 53703

Jeffrey J. Bartzen

Real Estate, Intellectual Property, Estate Planning, Corporate

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401 Charmany Drive, Madison, WI 53719

Daniel J. Krause

Nursing Home, Estate Planning, Estate, Divorce & Family Law

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116 Spring St, Oregon, WI 53575

Nelson Donovan

Estate Planning, Estate

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116 Spring St, Oregon, WI 53575

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LEGAL TERMS

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

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.

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.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

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.'

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

CREDIT SHELTER TRUST

See AB trust.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

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Oregon Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Lawrence E. Bechler

Bryan D. Woods

Rachel L Govin

Eve E. Dennison Pollock

Linda Roberson

Joe Cavitt

Howard A. Sweet

Jeffrey J. Bartzen

Daniel J. Krause

Nelson Donovan

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LEGAL TERMS

PROVING A WILL

ESTATE TAXES

EXECUTOR

SUMMARY PROBATE

INCOMPETENCE

CONTINGENT BENEFICIARY

CREDIT SHELTER TRUST

STATUTORY SHARE

FAILURE OF ISSUE

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