For some people, realizing that they aren’t going to get what they expected after the death of a loved one is a shock. While a challenge to a will isn’t something that happens often, it might need to be considered in certain circumstances. Around 99% of wills go...
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LAKE FOREST ILLINOIS TRUSTS AND ESTATES LAW BLOG
Understand how beneficiary designations can affect your estate plans
Protecting your assets for your heirs may be a top priority for you, especially when you’ve worked hard to build those assets up. Many people focus on their will as the main vehicle to pass assets to their heirs or they establish trusts to preserve those assets. Some...
It’s a major risk to procrastinate estate planning
You may hear that estate planning is one of those things that many people fail to do. For instance, perhaps you read that most Americans haven’t done any estate planning. You may find yourself wondering how anyone could entirely fail to do something so important. The...
What do to if an executor breaches their fiduciary duty
If you feel the person who’s executing a loved one’s estate is not doing their job correctly, you may consider removing them. It is not something you can do on a whim. However wrong a choice they might seem to you, your family member chose them for a reason. If you...
What is a no-contest clause and how does it work?
A will or a trust includes many essential provisions. One that often does not get as much attention as others is the no-contest clause, sometimes referred to as the forfeiture or terrorem clause. This provision, in a way, wants everyone to understand that the testator...
Leaving too much to your children may not be in their best interest
If you worked hard to give your family opportunities you never had, it is satisfying to think you have achieved your goal. You can sit back, knowing that your children will not have to go through the same struggles you did. They will never have to wonder where the...
