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...
Uncategorized
What are some of the reasons that an estate plan is needed?
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...
How living trusts protect you and your assets
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...
What do I have to disclose when selling a home?
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...
A power of attorney is a useful planning tool
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...
Estate planning and trusts in Illinois
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...
Trusts are an effective estate-planning tool
Estate planning is typically focused on passing assets after you die. But planning may include both wills and trusts to help preserve your income when you are still alive. There are some general features you should know about trusts. General description A trust is a...
Tips on how not to mess up a solid estate plan
We are in a historic time of uncertainty and death. Every day, we are faced with news reports of the national crises and accompanying death toll that seems to never stop increasing. Naturally, as a result, many of us are now looking to create or update our estate...
A reaffirmation agreement can help you keep assets
A lot of people who struggle with debt are worried that personal bankruptcy will leave them in a worse position. They oftentimes believe that a Chapter 7 bankruptcy will strip them of all of their assets, making it nearly impossible for them to get back on their feet...
What happens if you don’t pay your credit card bill?
Almost every Geneva area resident has at least one credit card. In fact, the average American has four credit cards. Credit cards are used for every day purchases as well as any emergency that may crop up such as medical expenses, car repairs, etc. Although most...