lake forest illinois trusts and estates law blog

Some individuals with estate plans don’t bother to update them because they assume there won’t be any major changes in their lives. But as the old saying goes, “Tomorrow isn’t promised to you.” Though possessing an estate plan is better than not having one at all,...

When you run your own business, time can quickly slip away from you. Before you know it, the months and years can go by in what feels like a flash. You’re always busy having to think about all the tasks that require your attention. One of the consequences of being so...

Anyone with a very large estate may have to worry about federal estate taxes. Those obligations apply regardless of what state someone lives in at the time of their death. However, only a few states assess state-level estate taxes, and Illinois is one of them.  Those...

Many adults, especially younger adults, don’t have any type of estate plan created. While it’s not a pleasant topic to think about, estate planning is your chance to say who is going to get what when you pass away. A person who dies without an estate plan dies...

For the testator who created the estate plan, the assets they left behind for specific beneficiaries may have been their main focus. It is common for people to put a lot of consideration into what they want their loved ones to inherit. They may choose beneficiaries...