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Estate planning insights and legal resources.
What Are the Rules for Estate Planning in Illinois?
Your estate plan is a comprehensive outline of how you want your assets managed or distributed, who you want to care for your minor children, and who you want to handle important decisions if you’re unable to make them yourself. With so much on the line, it should come as no surprise that there are
August 8, 2024
What Happens if You Don’t Have Power of Attorney
Estate plans are comprehensive documents that provide clear direction for your loved ones and the court if you pass away or are unable to make informed decisions. These plans include provisions for what happens to your money, your assets, your children, and other aspects of your estate if you’re no longer able to manage them
July 31, 2024
The Role of Estate Planning in Illinois Retirement Planning
When you think about your retirement plan, what do you focus on? If you’re like most, you think about your retirement accounts and your investment portfolio. Why? Because those plans hold many assets designed to help you live the life you want when you’re no longer working. While your retirement accounts are certainly important, they’re
July 18, 2024
What to Do if You Inherit a House in Illinois
When people create estate plans, establishing a plan for what happens to their homes if they pass away is essential. Many choose to let a loved one inherit the property and give them the full freedom they need to decide what to do with the home once ownership transfers to them. If you’ve recently inherited
June 28, 2024
Why You Need an Estate Plan, No Matter Your Age or Wealth
When you’re young, the future feels like it’s filled with endless possibilities. This leads many younger adults to believe that they have plenty of time to plan for changes in their health or to provide clear direction for how their assets should be managed when they pass away. While estate planning is often viewed as
June 13, 2024
A Quick Overview of the Illinois State Probate Process
When you pass away, the state will look to your will and your estate plan to determine who inherits which parts of your estate. That’s why creating a will and having a functioning estate plan in place is so important. Without it, the state is left to determine who receives which assets based on the
May 30, 2024
What Is the Order of Inheritance in Illinois?
Figuring out who inherits which parts of your estate is a key component of estate planning. And while your Illinois estate planning lawyer can help you create a plan that clearly outlines your wishes, it’s still helpful if you understand the ins and outs of the state’s rules before you start. This way, you’ll have
May 21, 2024
Don’t Let This Crucial Question Derail Your Estate Plan
Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: Who will get your stuff when you die, and how do you want those individuals or charities to receive that stuff? Ways to Give Away Your Money and Property Outright
April 23, 2024
What Is the Difference Between a Probate and Trust Administration Attorney and an Estate Planning Attorney?
Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. Estate planning attorneys focus on creating a plan to manage a person s money, property, and affairs upon their death or if they are unable to manage it themselves. Probate
April 23, 2024
Inspiring Action: The Guide to Creating or Updating Your Estate Plan
Creating or revising an estate plan can feel overwhelming, causing many people to procrastinate. But the longer you put it off, the more potential there is to be caught unprepared in an emergency. So how can you motivate yourself and your loved ones to begin the process? Here are some strategies to help you overcome
April 23, 2024
What Is a Residuary Clause and Why Is It Important?
When developing your estate plan, it is nearly impossible to address every account or property you own. There are sure to be some things you unintentionally overlook. However, by including a residuary clause, you can intentionally disburse any remaining items inadvertently left over during the estate or trust administration process to a named beneficiary or
April 23, 2024
Saying Goodbye Is Hard: How a Comprehensive Estate Plan Can Help
When people think about estate planning, they usually focus on who will receive their money and property when they pass away and how it will be received. However, estate planning can also address your end-of-life wishes—the considerations and expenses involved when it is time to say goodbye to your loved ones. The following are important
April 23, 2024