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Estate Planning

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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Monday, June 25, 2018

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 as they watch your estate go through probate. You have the ability to design an estate plan that can mostly, if not completely, eliminate the need for your estate to go through probate.


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Tuesday, June 19, 2018

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 the need of going before a judge or jumping through all of the time consuming hoops involved with formal probate proceedings.


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Friday, June 15, 2018

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 serve our nearest and dearest lasts indefinitely. Fortunately, estate planning can help us fulfill this goal. One valuable tool in estate planning is the incentive trust.


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Thursday, May 24, 2018

Third Party Special Needs Trusts

Establishing a special needs trust can be an invaluable part of the estate planning process. A special needs trust is a specific type of trust used to provide supplemental support to a person with disabilities without jeopardizing the individual’s continued receipt of government benefits. You may have a loved one with special needs who you wish to provide for so that they always have a certain standard of living.


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Tuesday, May 15, 2018

Dying Without a Will

While many people might have to create a will on their to-do list, they may not realize the consequences that come with passing away without having a valid will in place. When someone dies without creating a legally valid will, it is referred to as dying “intestate.” Without a will, all assets that pass through probate are subject to state intestacy law. These are the default laws of distributing the estate of a deceased individual, referred to as the “decedent,” and may not necessarily be in line with what the decedent would have wanted had had he or she memorialized his or her wishes in a will.


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Friday, May 11, 2018

Advance Health Care Directives

An advance health care directive is an important part of developing a comprehensive estate plan and critical to making sure your wishes for your health care treatment are always honored. An advance health care directive is a legal document that memorializes how you want medical decisions made on your behalf if, at any point in the future, you are unable to make them yourself. Two of the most important advance directives you can put in place include: health care power of attorney and a living will.


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Wednesday, March 21, 2018

Why do I Need a Will?

Illinois Estate Planning Attorney

While many have some idea about what a will is, it is important to understand the true importance of this estate planning document. Yes, it says how you want your property distributed after you die, but its value reaches beyond this. It is also good to know the consequences should you not have a will in place when you pass away.
Estate planning can provide peace of mind for you and your family. Important estate planning documents such as a will can secure a future for your family that you want and bring comfort to you knowing that your loved ones will be provided for after you are gone.


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Tuesday, February 6, 2018

Illinois Estate Planning Attorneys

The probate process can be a frustratingly long and expensive process. There are ways you can save your loved ones from going through this after you pass. M&A Law Firm will work with you to design an estate plan that not only meets your unique needs and circumstances, but one that looks to avoid probating your assets. Contact M&A Law Firm today to secure the most beneficial future for your loved ones you can through a dependable estate plan.


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