Death can be a taboo subject and one that many people don’t want to think about. But estate planning is essential for those in Illinois who want to protect their assets after death. A thorough estate plan details exactly how one’s assets are to be divided after one’s...
Experienced Representation In Business Law, Estate Planning And Tax Law
Experienced Representation In Business Law, Estate Planning And Tax Law
Experienced Representation In Business Law, Estate Planning And Tax Law
How trusts can make your estate plan more complete
There are a lot of misconceptions about the estate planning process. Among them is that it’s straightforward, requiring nothing more than a simple will that specifies how your assets will be distributed once you pass away. Sure, a will can play a pivotal role in your...
Power of attorney requirements for Illinois
In Illinois and many other states across the nation, you are allowed to select a health care agent to make medical decisions on your behalf if you become incapacitated. Choosing someone to be your health care agent is no easy task. The person you choose must meet all...
How a pour-over will might make your estate planning easier
You’re busy in your day-to-day life. You’ve got to get to work and deal with its stressors, take your kids to school and help them with their homework, and perhaps even help care for aging parents. Getting wrapped up in all of these activities can leave you feeling...
Include gifting in your estate plan this Christmas
Christmas is a time when we give gifts to our relatives, friends and other important people in our lives. We want to show our love and appreciation for them. Some of these gifts are very valuable, costing thousands of dollars. Some high-value gifts are subject to the...
Governing your estate after you die
You may not necessarily lose control or the ability to assure that your estate is being handled responsibly and in accordance with your wishes after you die. You can impose conditions as part of your estate planning and probate to assure that your conditions are being...
Can I move my assets into a trust to qualify for Medicaid?
While young and middle-aged estate planners may not care about Medicaid now, unless they have a disease or medical condition that requires hospice or other long-term care. However, for these people and our more elderly clients, planning to qualify for Medicaid is...
The trustee can be just as important as the trust
When we plan our estates, we rely on our friends and family to be there for us. We choose them as guardians for our children, executors for our estates and as healthcare proxies to make sure a random medical provider does not make our healthcare decisions. However,...
Essential points about revoking a will in Illinois
Estate planning is a wise step in Illinois. This is true for everyone whether they believe they have enough property to warrant it or not. It is especially true for those who have achieved significant success in life by building a business, accruing vast assets and...
New rules for inherited IRAs
Estate planning strategies that can reduce the tax burden are always welcome news for Illinois residents who want to take care of loved ones after they are gone. With ever-changing tax laws, however, it can be challenging to keep up with the new rules and how these...