There are many details to consider when creating an estate plan. It's natural to focus most your time on a will or trust, as this governs who gets what upon your death, but you don't want to overlook other details that are every bit as important.
A living will can strengthen your estate plan
Avoid these major estate planning errors
Those who wish to execute solid estate plans will no doubt research the process ahead of time to learn more about the ins and outs of the system. Illinois has its own regulations and guidelines for estate planning, as do other states. An estate owner does well to seek guidance in the process before diving in. An experienced estate planning attorney can provide information to help an estate owner avoid potential errors that could negatively impact a plan.
Mary Cunningham Agee wading through turbulent probate litigation
Business women advocates in Illinois and throughout the nation may relate to the many challenges Mary Cunningham Agee overcame when she was climbing to the top of the corporate ladder in the 1980s. Nowadays, many people know Agee as "The Tomato Lady" for her work out West growing heirlooms and herbs. That title comes after 35 years of marriage to Bendix Corp. CEO William M. Agee and the scandalous stories that threatened her reputation at every turn. Such tales have recently resurfaced amid acrimonious probate litigation between the widow and her stepchildren.
Estate planning and administration: Executor seeks missing art
A relative of former First Lady Jacqueline Bouvier Kennedy Onassis has taken action in court against an art gallery owner in another state. Those in Illinois who are currently trying to resolve estate planning and administration problems that involve disputes over inheritance or assets may want to follow this case. The plaintiff is the nephew of Onassis's cousin who claims that upon his aunt's deathbed, she reminded him of the missing family heirloom, namely, a portrait of Onassis commissioned by her father when she was age 19.
Anyone can make one of these estate planning mistakes
When it comes to estate planning, there are things you should and shouldn't be doing. Unfortunately, many people don't understand where to draw the line.
Are stepmothers more likely to enter probate litigation?
When a loved one dies, those left behind often encounter legal problems regarding estate administration and probate issues. Many disputes that lead to probate litigation involve stepmothers and their stepchildren. While factual assertions cannot be based on stereotypes or generalizations, there does appear to be data to suggest higher rates of probate litigation in stepfamily situations.
Estate planning: The often ignored but oh-so important process
Why do many people in Illinois and elsewhere shy away from discussions regarding their own mortality? No one can be certain; however, the fact that data shows many people never execute estate plans before they die emphasizes the fact that it's true. The estate planning process can be simple or complex. There's no shortage on stories where someone dies without leaving a final will and testament, wreaking havoc upon all heirs and beneficiaries.
