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Estate Planning

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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Friday, July 27, 2018

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 children who are not born out of a marital relationship may have questions about how and whether their children will be treated under their will.

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Wednesday, July 25, 2018

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?

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Wednesday, June 27, 2018

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.

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