One of the most common questions our experienced Illinois estate planning attorneys get from clients is, “What kind of estate should I choose? Which is right for me?” The answer is that it depends on what you want people to have and when you want them to have it! A good estate planning...
Buying a House for the First Time? Here’s What You Need to Know About Good Title
Buying your first home is very exciting! It can also be very overwhelming given how many different steps are involved. One of the most important things to be aware of is ensuring you have “good title” to the home you purchase. What does good title mean and how do you know when you...
How Do You Make Sure Your Will is Valid?
Whether you are just married, have been married for decades, or if you’re single with no dependents, you need a will. A will is an important legal instrument that ensures your assets are distributed according to your intent after you die. Creating a will might sound like a hassle, and you might be...
How Are Adopted and Foster Children, Children Born Out-of-Wedlock, and Posthumously-Conceived Children Treated in Wills?
No two families are the same. Whether you currently have no children but are planning to start a family, or whether you have multiple children from different relationships, your family is as unique as you are. All parents want to make sure their children are cared for when they die, and parents of...
How Do You Revoke Your Will?
You’ve met with attorneys, considered your options, and carefully drawn up and executed a will. Then, something unexpected happens. Maybe it’s a divorce or a death, or maybe you gain or lose significant assets. If your will isn’t accurate anymore, what are your options?
What Should You Consider When Deciding Whether to Create a Trust?
Many people think trusts are only for the wealthy. This could not be further from the truth, as trusts can be very powerful tools that not only help you care for your loved ones after you pass but also allow you to ensure your estate is managed exactly as you want. Trusts...
Common Estate Planning Mistakes to Avoid
Despite the fact that financial information is more accessible than ever before, there are still many misconceptions about estate planning. By working with an experienced estate planning attorney, you can avoid the following common estate planning mistakes.
(more…)Avoiding Probate
Probate is the administration of an estate. It is the formal, court-monitored process that results in the distribution of the estate assets to the appropriate beneficiaries. Probate, while sometimes necessary, is a notoriously lengthy, complicated, and sometimes expensive process. Fortunately, through proper estate planning, you can spare your loved ones the trying experience...
Small Estate Affidavit
Illinois allows for use of a small estate affidavit, a useful tool for some of those dealing with smaller estates who are looking to avoid formal probate proceedings. A small estate affidavit does not need to be filed with a court. Use of the affidavit allows for the transfer of estate assets without...
Incentive Trusts
One thing many people worry about is the best way to provide for their loved ones after they are gone. Sometimes, we want to leave assets or property to a family member, but worry about things like spending habits that may lead him or her to squander an inheritance. The desire to best...
