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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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Includes: Estate Administration, Living Wills, Wills

Heidi Marie Eglash

Wills & Probate, Trusts, Estate Planning, Elder Law

Status: Licensed: 30 Years

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1212 Horton Street, La Crosse, WI 54601

800-814-6700

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LEGAL TERMS

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.

TITLE COMPANY

A company that issues title insurance.

HEIR AT LAW

A person entitled to inherit property under intestate succession laws.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

FAILURE OF ISSUE

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

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

BEQUEATH

A legal term sometimes used in wills that means 'leave' -- for example, 'I bequeath my garden tools to my brother-in-law, Buster Jenkins.'

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

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).

SAMPLE LEGAL CASES

In re Estate of Sanders

... The orders involved were granted in probate proceedings in the Circuit Court for Waupaca County with Judge Philip M. Kirk, presiding. ... The court of appeals had dismissed Sanders' appeal from that order in regard to the probate of her deceased husband's estate. ...

MATTER OF DISCIPLINARY PROCEEDINGS AGAINST BERLIN

... 7 On April 5, 2005, Attorney McNeely prepared and filed a special administration petition in the DB estate, requesting that the probate court appoint CB as special administrator of DB's ... 12 On June 4, 2005, Attorney McNeely sent correspondence to the probate court that read: ...

IN THE MATTER OF JONES

... In the first client matter, EB retained Attorney Jones in May 2002 to probate her mother's estate. ... Attorney Jones prepared an application for informal administration, an order appointing a guardian ad litem, and domiciliary letters which were filed with the probate court. ...

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