A Transfer on Death Instrument (TODI) is a legal document that allows property owners to assign a beneficiary to inherit their property upon death. Unlike a will, a TODI does not need to go through probate. The TODI becomes effective only after the property owner's...
Experienced Representation In Business Law, Estate Planning And Tax Law
We have been serving the legal needs of clients in the Godfrey area for more than four decades. Our attorneys make the law accessible to our clients, explaining complex legal concepts in plain English and helping them make well-informed decisions about the future.
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Experienced Representation In Business Law, Estate Planning And Tax Law
Experienced Representation In Business Law, Estate Planning And Tax Law
estate planning
Asset distribution in the absence of a will
It can be stressful when the unexpected passing of a loved one devastates a family, especially when they were unable to leave a will. This situation, called intestacy, can lead to complications regarding the distribution of assets. The state steps in When a decedent...
Legal tools to help you minimize the tax burden on your estate
You worked hard to build up your assets over the course of your entire life, and you want as much as possible of that legacy to make it into the hands of your family and friends without the government taking an inordinate bite out of it first. That can seem easier...
Is your estate plan missing this crucial document?
When you begin your estate planning journey, you will probably encounter legal and financial experts who advise you to create a living trust. This crucial component is often touted as a must-have for anyone serious about protecting their assets and wishes. But why...
Estate planning pitfalls to avoid to protect your business
Estate planning is crucial for anyone but especially important for those with complex financial situations, like business owners. If you are part of this population, you have likely worked hard to build your wealth and secure your financial future for you and your...
Differences in revocable and irrevocable trusts
Trusts are an important addition to an estate plan if one wishes to have more control over how one’s assets are used by the beneficiary. Illinois residents may wish to add a trust to their estate plan to help their children or grandchildren make more responsible...
What mistakes could impact your estate plans?
The intent of planning for the future is to have the final say over important matters, such as what happens to your personal property after you pass away. By creating an estate plan, you can be certain that you are able to control the medical care you want or do not...
The importance of having a living will
It’s a common misconception that estate planning is for planning what happens to one’s assets after they die. But there is also a way to plan for one’s medical care needs in case one becomes incapacitated and can’t make medical decisions for themselves. A living will...
Choosing the right person to have power of attorney
There is no single perfect way to plan for the future. If you are considering what you may need for your estate plan, it may be helpful for you to look at the tools available to you beyond a basic will. A will is a good place to start, as this is a document that...
Is it time to review your estate planning documents?
When you originally created your plans for the future, you made your decisions based on the information you had at the moment. Life continues to change after your estate plan is final, and it may be necessary to adjust and change your plans as needed. Every few years,...
