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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
  Find out how an experienced attorney can help end calls and prevent lawsuits.
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Theron Abbey Foote

Real Estate, Government, Estate, Accident & Injury

Status: Licensed: 56 Years

CONTACT

23 W Court St, Warsaw, NY 14569

Steven D. Sessler

Estate, Employment, Child Custody, Insurance

Status:

CONTACT

131 Main St, Geneseo, NY 14454

Jon Hull Porter

Real Estate, Government, Estate

Status: Licensed: 60 Years

CONTACT

133 Main St, Geneseo, NY 14454

Theron Edwin Howard

Foreclosure, State Government, Estate Planning, Banking & Finance, Collection

Status: Licensed: 48 Years

CONTACT

15 Clay St, Le Roy, NY 14482

Paul Sturdivant Boylan

Commercial Real Estate, Government, Estate Planning, Estate, Wills & Probate

Status: Licensed: 60 Years

CONTACT

45 W Main St, Le Roy, NY 14482

David Loomis Henehan

Real Estate, Estate

Status: Licensed: 60 Years

CONTACT

5579 E Avon Rd, Avon, NY 14414

Robert F. Humphrey

Estate, Business

Status: Licensed: 54 Years

CONTACT

3 Main St, Le Roy, NY 14482

John R. Scura

Real Estate, Government, Estate, Bankruptcy & Debt

Status: Licensed: 58 Years

CONTACT

131 Main St, Dansville, NY 14437

800-814-6700

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LEGAL TERMS

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

FAILURE OF ISSUE

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

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

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.'

TRUSTEE POWERS

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

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).

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

In 1986 Markatos Realtors, Inc. (hereinafter Markatos), Rutger's immediate predecessor in interest, along with Brookside Park Properties, Inc., the defendant's predecessor in interest, executed a written indenture providing, among other things, for mutual easements designating 12 ...

Colasacco v. Robert E. Lawrence Real Estate

In October 2002 the defendant Christopher DiCorato, a real estate agent employed by the defendant Robert E. Lawrence Real Estate (hereinafter Lawrence, and hereinafter together the defendants), met with the plaintiffs and showed them a parcel of vacant property that was ...

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

In any event, plaintiff fails, as a matter of law, to demonstrate any injury for which it is entitled to hold defendant sponsors liable. Although the purchase agreement obligated defendant sponsors to provide plaintiff with a building and unit constructed "in a good and workman-like ...

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Silver Lake Estate Lawyer, New York

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Theron Abbey Foote

Steven D. Sessler

Jon Hull Porter

Theron Edwin Howard

Paul Sturdivant Boylan

David Loomis Henehan

Robert F. Humphrey

John R. Scura

TIPS

LEGAL TERMS

LIFE BENEFICIARY

DISCHARGE (OF PROBATE ADMINISTRATOR)

FAILURE OF ISSUE

SWEARING MATCH

AUGMENTED ESTATE

LIVING TRUST

TRUSTEE POWERS

GRANTOR RETAINED INCOME TRUST

GENERATION-SKIPPING TRANSFER TAX

SAMPLE LEGAL CASES

Step-Murphy, LLC v. B&B Brothers Real Estate Corp.

Colasacco v. Robert E. Lawrence Real Estate

Kerusa Co. LLC v. W10Z/515 Real Estate Ltd. Partnership

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