Estate planning is a necessary step to communicate your wishes regarding everything from medical care to distributing assets to your potential heirs. A large part of the process involves trusts. Trusts can help with tax issues and creditor protection. They can also...
Estate Planning
How can older adults suffer from undue influence?
Estate planning is an important process for older adults since it ensures that people distribute assets according to their wishes after they pass away. However, this process can be fraught with risks, and one of the most significant concerns is the potential for undue...
What should executors expect to do during probate?
When it comes to estate planning, executors are necessary for the smooth transition of assets. Being an executor requires careful attention to detail, organization and a willingness to understand complex financial matters. Here are key aspects executors should know...
When should your heirs receive their inheritance?
Planning your estate is an act of foresight and care, showing your concern for the well-being of your loved ones after you die. In Illinois, part of that planning might include deciding when your heirs should receive their inheritance. While leaving a significant sum...
6 frequently asked questions about estate planning in Illinois
Estate planning is an important aspect of financial management that many people overlook or put off because it seems like a daunting task. Answers to these frequently asked questions can help you get through the process more easily. 1. What is estate planning? Estate...
Strategies to Avoid Probate in Illinois
Probate is the legal process that distributes a deceased individual's assets to heirs or beneficiaries. In Illinois, like many other states, this process can be time-consuming, expensive and complicated. Therefore, many individuals choose to use strategies that can...
Essential documents for your Illinois estate plan
You can protect your assets when the need arises by creating a comprehensive estate plan. However, in Illinois, including specific documents is essential for an effective estate plan. This article emphasizes the importance of incorporating particular documents to...
3 questions to consider during estate planning
You may think of estate planning as something you do when you become a senior citizen; however, taking stock of your estate at any age once you become a legal adult can help your family members make more informed decisions if you become too ill or otherwise...
How trusts help preserve and protect your legacy
Many people in Illinois draft wills so that they maintain a certain degree of control over what happens to their legacy when they die, but there are limits to what a will does. A trust is another type of estate planning document that offers a number of key benefits a...
What happens if someone dies without a will in Illinois?
Having a last will and testament in place serves to outline your intentions regarding the distribution of your assets and other important matters of your estate. Even a simple will can clear up a lot of confusion and help ensure that your family is well cared for...