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Estate Planning

Tuesday, May 21, 2019

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 the many tools you have at your disposal – but only a good estate planning attorney can give you the advice you need you make sure your estate plan suits all of your financial and personal needs.

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Thursday, May 16, 2019

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, and sometimes properties our pass to inheritors in a will while the property is undergoing foreclosure proceedings. These circumstances raise unique legal issues that must be addressed with the help of a good real estate attorney.

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Tuesday, April 30, 2019

Living Trusts, Revocable Trusts, and Pour Over Wills - What's the Difference?

In Illinois, as in most states, there are several tools that are especially helpful to have at your disposal. Of special interest here are the estate planning instruments involving the establishment of a trust: inter vivos trusts, revocable living trusts, and pour over wills.  But what are these estate planning mechanisms, and how they can serve you in achieving your proprietary goals? Read on and learn!

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Tuesday, April 9, 2019

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 the process of planning an estate – a process that is often complex and fraught with pitfalls.

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Tuesday, March 19, 2019

Trusts vs. Wills: Understanding the Most Common Estate Planning Tools

Estate planning is complicated, and you should never attempt it alone. With that being said, it’s critical to educate yourself on the important aspects of estate planning. Wills and trusts are two of the most common legal tools in an estate planning lawyer’s toolbox, so you should consider whether either – or both – should be a part of your final arrangements.

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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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