The ABC’s of Inheritance Law in Illinois
When a person dies, his or her estate, assets, and property is passed along, or inherited by the deceased person’s heirs or named beneficiaries through either a last will and testament or, if no will exists, through Illinois Intestacy Laws. These estate, assets, and property are called the inheritance and an identified...
All About the Illinois Power of Attorney Act
A power of attorney allows a person (known as a “principal”) to appoint a representative (or agent) to manage their property and affairs in the event they are no longer able to do so for themselves. At some point, nearly everyone will need a power of attorney to represent them....
The Probate Process in Illinois
In Illinois, the probate process makes sure that a deceased person’s property and assets are distributed correctly and that any debts or taxes are paid in full. Probate is a court supervised legal procedure that may be required after a person’s death. Although many estates are unable to avoid probate...
Millennials’ Frequently Asked Questions About Estate Planning
Thinking about death is not fun. It’s morbid and depressing, and as a result many young people believe that is state planning is typically something reserved for people entering their golden years. The fact of the matter is, however, there is no way of knowing when it will all end. This is...
Staying Safe with Your Power of Attorney
Power of attorney documents are legal forms that most people encounter at some point in time in their lives. These documents may be common, but unfortunately many people who execute power of attorney documents do not really know what the agreement actually does. As a matter of fact, power of attorney documents...
Should a Charitable Trust Be Part of My Estate Plan?
There are many options available to you in designing an estate plan that is just right for you and your goals, and with the help of a trusted advisor you can put the pieces in place in a way that perfectly suits your needs. A charitable trust is one of...
What Happens if You Inherit a Property in Foreclosure?
Knowing what will happen to your home or real estate properties after you pass is an important part of proper estate planning. However, it is an unfortunate fact that many elderly people face challenges paying their mortgages. This can add to the already daunting legal challenges that come with planning an estate,...
Living Trusts, Revocable Trusts, and Pour Over Wills – What’s the Difference?
You’ve worked hard to acquire, built, and earn wealth during your life. But what is to become of it when you pass? To make sure your valuable property is protected even after you are gone, estate planning is name of the game is estate planning. Having a good estate...
Top 3 Tips for Managing Estate Taxes
Much like filing your taxes, planning your estate is seldom easy and never fun. It requires you to think deeply about the circumstances you will leave your loved ones in after you pass. This can be tough to handle for anyone, but fortunately a good estate planning lawyer can help guide you though...
