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Abraham Michelson
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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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Alf Langan

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Divorce & Family Law, Estate Planning, Criminal, Federal, Tax Litigation

Licensed in Wisconsin, Illinois, Federal Eastern District of Wisconsin, and U.S. Tax Court

Mr. Langan is a Criminal Lawyer serving Green Bay, Wisconsin and the surrounding areas. He has been practicing law for over 20 years.

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CONTACT

800-382-0901

2643 Libal St, Green Bay, WI 54301

Philip R. Brehm

Real Estate, Trusts, Estate Planning, Family Law, Business Organization

Status: In Good Standing

CONTACT

414 South Jefferson Street, Green Bay, WI 54301

Gregory John Babcock

Bankruptcy & Debt, Business, Employment, Estate, Family Law

Status: In Good Standing Licensed: 19 Years

CONTACT

417 S Adams St, Green Bay, WI 54301

Thomas J. Parins

Accident & Injury, Divorce & Family Law, Employment, Estate

Status: In Good Standing

CONTACT

416 S. Monroe Ave, Green Bay, WI 54301

Ryan David Krumrie

Real Estate, Lawsuit & Dispute, Estate, Employment, Business

Status: In Good Standing Licensed: 17 Years

CONTACT

200 S Washington St, Green Bay, WI 54301

Thomas J. Parins

Real Estate, Estate, Divorce & Family Law, Personal Injury

Status: In Good Standing Licensed: 58 Years

CONTACT

422 Doty St, Green Bay, WI 54301

Tom F Galloway

Real Estate, Trusts, Traffic, Workers' Compensation

Status: In Good Standing Licensed: 49 Years

CONTACT

416 S Monroe Ave, Green Bay, WI 54301

George Burnett

Real Estate, Wills & Probate, Workers' Compensation, Employment

Status: In Good Standing

CONTACT

231 S Adams St, Green Bay, WI 54301

Katherine M. Rondeau

General Practice

Status: In Good Standing Licensed: 38 Years

CONTACT

New Franken, WI 54307

Bernard U. Roels

Personal Injury, Commercial Real Estate, Estate Planning, Wills & Probate

Status: In Good Standing Licensed: 66 Years

CONTACT

515 George St, De Pere, WI 54115

800-923-0641

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LEGAL TERMS

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).

TRUST DEED

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to... (more...)

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

DEVISEE

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

NET ESTATE

The value of all property owned at death less liabilities or debts.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

ADEMPTION

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she di... (more...)

The failure of a bequest of property in a will. The gift fails (is 'adeemed') because the person who made the will no longer owns the property when he or she dies. Often this happens because the property has been sold, destroyed or given away to someone other than the beneficiary named in the will. A bequest may also be adeemed when the will maker, while still living, gives the property to the intended beneficiary (called 'ademption by satisfaction'). When a bequest is adeemed, the beneficiary named in the will is out of luck; he or she doesn't get cash or a different item of property to replace the one that was described in the will. For example, Mark writes in his will, 'I leave to Rob the family vehicle,' but then trades in his car in for a jet ski. When Mark dies, Rob will receive nothing. Frustrated beneficiaries may challenge an ademption in court, especially if the property was not clearly identified in the first place.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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.

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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Sobieski Estate Lawyer, Wisconsin

Sponsored Law Firm

The Michelson Law Office

SPONSORED LAWYERS

Alf Langan

Philip R. Brehm

Gregory John Babcock

Thomas J. Parins

Ryan David Krumrie

Thomas J. Parins

Tom F Galloway

George Burnett

Katherine M. Rondeau

Bernard U. Roels

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LEGAL TERMS

GRANTOR RETAINED INCOME TRUST

TRUST DEED

DEVISEE

NET ESTATE

GROSS ESTATE

ADEMPTION

ABATEMENT

GENERATION-SKIPPING TRUST

INCOMPETENCE

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