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Estate Planning

Thursday, March 7, 2019

Your Roles and Responsibilities as Executor of a Will

Everyone should have a will. It’s a keystone of any estate plan, and it’s a critical way to ensure that your assets pass to your loved ones – and not the state – after you pass. It’s easy to be intimidated by some of the technical aspects of estate planning, particularly given how specialized the concepts and vocabulary related to the execution of an estate can be. A skilled estate planning attorney is an important partner in the process of setting up your will. But just to give you a better idea of who and what is involved in the execution of your estate, or if you’ve been named as the executor of a will yourself, here is some helpful information that may help you grow more comfortable with the process.

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Thursday, February 28, 2019

Estate Planning Mistakes That Can Land You in Probate Court

Estate planning can be a challenging process, but it only becomes more difficult if legal issues arise that require resolution in probate court. Setting your affairs in order to make sure things run smoothly after your passing can be a delicate process, and estate planning mistakes can cause costly and painful delays for your loved ones as they work to carry out your last wishes. Having a good estate planning attorney on your side can help you avoid some of the common estate planning mistakes that force people into probate court. But before you start searching for the best estate planning lawyer near you, it’s helpful to understand a bit about what probate courts do and how people end up having to deal with them.

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Thursday, February 21, 2019

Five Things to Consider Before Executing a Power of Attorney

Power of Attorney agreements can convey vast amounts of legal authority, and they can raise a great deal of legal and financial risk. As a result, anyone considering executing a Power of Attorney should contact a licensed estate planning attorney in their area. However, here are a few things to keep in mind if conveying Power of Attorney ever becomes an issue.

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Thursday, October 25, 2018

Is an Incentive Trust Right for You? Here’s What You Need to Know.

Estate planning isn’t usually discussed at the dinner table, and for understandable reasons. It involves tricky conversations about who gets what assets, and why. Like most individuals who estate plan, you want the best for your heirs, especially if they are related to you. We all want to believe that our heirs would be able to handle a significant amount of inheritance and manage it in a fiscally prudent way, >however we know that this is unfortunately not always the case. If you want to provide for an individual who struggles with unhealthy spending habits, but protect your own hard-earned assets, what can you do?

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Monday, October 22, 2018

Incorporating Medicaid Planning Into Your Estate Plan

At M&A Law, we know most people put off estate planning for a number of reasons. Sometimes people simply do not want to face the reality that they will die or could, at some point, become disabled. Other times people find estate planning to be too complicated a process. Often, it just slips peoples’ minds until a close friend or beloved family member passes away.

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Thursday, October 18, 2018

Ensure Your Estate Plan Protects You From Elder Abuse.

Everyone knows that estate planning is important. You may even have already created an estate plan, whether it involves a will, trust, or other provision. While most people who create estate plans do so with an eye to ensuring that their financial interests and the financial interests of their loved ones are maintained, many people do not create an estate plan that is also designed to protect them from elder abuse.

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Sunday, October 14, 2018

What’s the Difference Between Power of Attorney and Guardianship?

Most people are confused by estate planning and put it off until the very last minute. Sometimes this is because people don’t want to face the thought of dying. Other times, it’s because people don’t want to admit that they don’t know what kind of help they need.

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Sunday, September 30, 2018

Having Kids Later in Life? Here’s What You Should Consider When Planning Your Estate

More people are choosing to have children later on in life. No matter what stage of life you have a child in, they can bring an abundance of joy and fulfillment—and financial challenges! While all parents work hard to ensure their children are provided for both during and after their lives, older parents are faced with some unique estate planning and retirement decisions.

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Monday, August 27, 2018

I Want to Leave a Piece of Property to Multiple People. What Do I Need to Know?

During the estate planning process, many people decide they several people to benefit from the same piece of property, whether it is land, a house, or anything else. Sometimes this is because they have limited assets, and other times it is because they simply do not want to leave any of their intended beneficiaries unprovided for. Regardless of your reasons, if you live in Illinois and want to leave a piece of your property to multiple people there are several different factors you will need to take into consideration.

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Thursday, August 23, 2018

What Kind of Estate is Right for Me?

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 attorney knows that estates are very customizable and will work with you to determine kind of estate you should create. Here is an overview of some common ways our Illinois estate planning clients choose to leave their estate to others.

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Monday, July 30, 2018

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 which ensures your assets are distributed according to your intent after you die. Creating a will might sound like a hassle, and you might be tempted to put if off for a few years or type up a “will” on your own. Neither of these is a good decision, however, as accidents happen and you want to make sure your loved ones are cared for and your estate is distributed the way you want it to be.

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