The old adage of the only things guaranteed in life are death and taxes continue to be as true today as it ever was before. And, the realities of death have never been more acute than they have been in recent memory. This is why we often get questions from business...
You may have executed what you believe is a comprehensive estate plan including a will, living trust, power of attorney, advance medical directive and other important documents. But just having an estate plan is not the end of the story. There are additional steps to...
Parents experience indescribable and immeasurable joy as their children grow. They shudder at the thought of life without their kids – or of their children’s life without them. No wonder, then, that only 36% of parents with minor children have written a last will and...
Trusts are a potentially valuable part of estate plan to consider and to understand. For that reason, estate planners should be familiar with the benefits of including a trust in their estate and what they do. Advantages of a trust There are a variety of different...
Like other states, Illinois has a law which determines how a deceased person’s property will be divided if the person did not leave a will. The law also applies if the person did leave a will, but the will does not get admitted to probate or later gets invalidated in...
There are a variety of important reasons to have an estate plan. Estate planners should understand why an estate plan is needed and how they can develop an estate plan that protects the estate planner and expresses their wishes. Avoid the probate process One reason to...
Sitting down with one’s family to discuss the future of one’s assets can seem like a daunting experience. Planning one’s estate may seem final and cumbersome to those who have growing assets with many moving parts. A living, or revocable trust is meant to solve these...
You may be ready to move somewhere new right now, but you have a fair amount of work ahead of you if you intend to sell your home. Of course, you will probably have to do a lot of cleaning and a fair amount of repair work to make your lived-in home look appealing to...
Many people are aware that estate planning may include completing a will or trust, but sometimes overlook the usefulness of a power of attorney. A power of attorney for finances and a power of attorney for healthcare allow a person to designate someone to act on their...
Everyone should have an estate plan, no matter how healthy, young, or old they are. Planning what will happen to assets after death can help people ensure that their property is distributed according to their wishes. There are many options in the state of Illinois to...
