When you create an estate plan, you do so for many reasons. At the top of your list is the ability to decide where your assets end up upon your death. While there are many estate planning tools you can use to your advantage, there’s no guarantee of preventing a will...
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LAKE FOREST ILLINOIS TRUSTS AND ESTATES LAW BLOG
How to prevent others from contesting your will
When you create an estate plan, you do so for many reasons. At the top of your list is the ability to decide where your assets end up upon your death. While there are many estate planning tools you can use to your advantage, there’s no guarantee of preventing a will...
When can a family member challenge a will?
If you are an executor for your parents’ or family member’s estate, you likely will face challenges when settling your loved one’s estate. The process takes time, it can be complicated, and you can face difficulty with heirs who are unhappy about what their share is...
Heirs of Boy Scouts founder purchased dams to avoid taxes
When the sale of a property occurred in connection with the estate of the man who founded the Boy Scouts of America, the money from the sale needed to be reinvested. If the heirs of the BSA founder did not reinvest the money within a year, they would have to pay taxes...
Probate litigation: Is it avoidable?
When an Illinois resident dies, his or her will must be validated in probate court. However, if someone contests the will, it can lead to probate litigation, which can be a complex and stressful process. If an estate owner wishes to protect his or her loved ones...
Maximizing the value you get for a home sale as executor
As the administrator or executor of an estate, you will likely find yourself in a situation where you have to make difficult decisions about assets, especially if the last will or estate plan instructs you to liquidate physical assets and distribute the proceeds among...
How to avoid probate litigation stress
Before 2020 ends, many Illinois residents will die. This means that, in many cases, surviving family members or perhaps friends or other acquaintances may have probate litigation issues to resolve. Maybe someone designated you as an executor to an estate. Perhaps, you...
Support for Illinois heirs and beneficiaries
Every Illinois estate owner can execute a unique plan to protect assets, transfer property, list instructions for business succession and more. Many estate owners include documents in their plans that pertain to heirs and beneficiaries. Issues pertaining to a person...
Helping your parent plan their estate when they have dementia
Those who are suffering from dementia can start with very mild symptoms. It may be that they have no problem living their day-to-day life, but they become forgetful or often lose their possessions. Mild symptoms of dementia does not necessarily mean that they will be...
Probate litigation: Early planning can help avoid disputes
Many Illinois households include a family member with Alzheimer's or other neurodegenerative disease. Mental incapacitation impedes a person's ability to validly sign estate planning documents. Several celebrity families have become entangled in probate litigation...
