This is probably an amazingly dumb question, but yeah. I've tried looking it up on the site and forum, but couldn't find it. 
 
To put it simple:
 
Is Ultimate Comics Spider-Man (the one with Miles) a follow-up for Ultimate Spider-Man? I tried looking it up on the site, but found out the new series, with Miles follows up right after Ultimate Fallout. Is this a follow up for Ultimate Spider-Man? Or for Amazing Spider-Man or whatever other comics of him are out there (There are so many of them I don't know which one it should be)? If it's for another than Ultimate, can I read it after it without problems (I'm talking about Fallout)? Or do I not need to read it? 
 
Since I like Ultimate Spider-Man, but am also very interested in Miles, I like to do it the right way. I thought Peter died in both comics (Ultimate and Amazing Spider-Man), but I can be wrong (probably am xD), and that confuses me. So I thought, why not ask it!
 
Not sure if I'm making any sense, but we'll see! I hope any of you can help me out!

Peter Parker is dead in the ultimate universe. Miles Morales is the new Spider-Man in the ultimate universe.

So yes the stories with Miles is a follow-up to the old ultimate series with Parker, and fallout dealt with the ultimate universes reaction to Peters death.

You can start reading from issue 156 to 160 which is the last arc of volume 1 the one with Peter and it is the arc where he dies.

Then pick up volume 2 from issue 1 and forward which is with Miles.

Hope it clears thing up.

Ah, like that! Thank you! I was able to pick up Ultimatw Spider-Man volume 1 to 4 very cheap a couple of days ago and I want to read those comics too, so I'm going to read all of the arcs!

Yes, you made everything perfectly clear, thanks a lot, pulseangel666! ^^