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,...
Experienced Representation In Business Law, Estate Planning And Tax Law
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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
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...
A pet trust can protect your pet after you are gone
As many people consider pets as part of the family, pet trusts are a tool many families count on time protect their pets if they pass away. Historically, pets were considered property in the eyes of the court, but nowadays, courts recognize that pets are living beings...
The basics on the federal estate tax for high-asset individuals
Estate taxes will not apply to most estates in Illinois, but for those high-asset individuals with significant wealth, the payment of estate taxes upon death is important. The following is a basic overview of the federal estate tax. The gross estate The gross estate...
Is having a will enough of an estate plan?
As we all know, estate planning can get complicated. This is because a full estate plan covers multiple scenarios, and includes both end-of-life and post-life solutions. This brings many to wonder whether simply having a will is enough. In most cases, it is not....
What is a power of attorney and why is it important?
One of the most important decisions individuals can make when getting their estate in order is whether or not to include a power of attorney (POA) to help with financial or health concerns. Along with all the other important estate planning documents, a POA is...
Estate planning for those with ADHD
As readers of this blog know, estate planning is not a quick process because it is about designing how one’s entire accumulated life will be delt with after death. However, this slow and methodical approach is often hard for those with attention deficit hyperactivity...
How to select an executor for your estate
The executor role in the management and administration of an estate is an important one which is why estate planners should know what to take into consideration when deciding on an executor for their estate plan. When estate planning, there are many considerations to...
Questions to ask about when to update your estate plan
As we approach the end of the year, it is helpful to evaluate an estate plan to determine if it is current and meeting the needs of the estate planner. It is also valuable for the estate planner to know what questions to ask when considering the usefulness of their...
