If you are considering contesting someone’s will, there are two questions you should ask yourself. Can I and should I? The law is clear on who can contest and a will and why. As to whether you should, only you can make that decision. On what grounds can you contest a...
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LAKE FOREST ILLINOIS TRUSTS AND ESTATES LAW BLOG
Ways an incentive trust can be used to motivate inheritors
When people enter into estate planning, often there are reservations over what the people who receive the estate, or beneficiaries, will do with it. Will they responsibly manage it, or will they waste the gift? Instead of leaving it up to chance, or blind faith, many...
Save on estate taxes with irrevocable trusts
You have built your estate for years, and you probably want to save as much of it so that your family can have a comfortable, secure life when you are gone. Currently, the federal government can tax up to 40% of any estate that surpasses the amount of $11.7 million...
Head inheritance disputes off at the pass with proper estate planning
When the patriarch or matriarch of a family dies, one common consequence is infighting among their heirs. While family dynamics do tend to play out after a death much as they did during the decedent’s lifetime, there are ways to avoid some of the worst fallout after a...
What you can do to help your child manage their inheritance in the future
If you have considerable assets, you likely plan to leave at least some of them to your child. If the thought of doing so gives you some anxiety because you worry they might squander the money, then you'll be happy to know that you have options. In a post earlier this...
What are signs of undue influence?
When your parents’ will is read, almost the entire fortune goes to your sibling. You do get some token items and a small amount of money, but your parents were worth millions, and you expected to inherit life-change wealth. They never said anything about cutting you...
