Creating a charitable trust offers a meaningful way to support causes you care about while managing your assets effectively. Two popular types are charitable remainder trusts (CRTs) and charitable lead trusts (CLTs), each with distinct benefits and mechanisms. What is...
Anything you do to reduce conflict in important family decisions represents a step in the right direction. A steady approach to estate planning has the potential to eliminate worries and uncertainty. A few smart steps allow you to enjoy the advantages of making a plan...
Estate planning should provide a comprehensive strategy for your family to follow after death. With so many tools available to utilize, you may want to diversify your estate to consider various elements. In exploring options, you may want to explore a trust. A trust...
Having an executor can bring you peace of mind knowing that someone understands your desires for the distribution of your estate. Relying on someone you trust to oversee the closure of your estate may also reduce confusion and disagreements between your surviving...
A health care directive allows you to make decisions about what medical treatment you would or would not like to receive in the future and communicate your wishes to your doctor and loved ones. Your health care directives take effect in the event that a medical...
With the increased lifespan of many Americans, people also choose to divorce later in life and continue on to remarry well into the golden years. Because of these later-year remarriages, it is important to factor some unique things into your new relationship, such as...
When creating your estate plan in Illinois, you have a right to create a trust to protect your assets. The legal formation of a trust gives you a way to shelter your assets, keeping them from taxes, creditors and even fraud. Though every trust has a trustee to manage...
Living trusts are important to estate planning. They're used to protect assets and to avoid probate. Trusts offer many tax benefits, establishing your loved ones' financial security in Illinois. But to fully understand the potential of a trust you need to have an...
Having a last will and testament is a must for all Illinois residents, but many people choose to use an online portal that they think will suffice for a simple final directive. The truth is that this may not be the best decision because wills can be contested...
Everyone in Illinois has a reason to do some estate planning. Even if you own very little property, planning ahead can save your family from a lot of headaches in the future. When a person dies with no estate plan, their assets must go through the probate process,...
