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March 2018 Archives

Sibling disputes: Stopping estate disputes before they start

No heir is technically entitled to anything if you decide not to include him or her in your will. However, you decided that you want to make sure your heirs are left with as much money as possible, so they have a step up in life.

Heirs and beneficiaries battling over Glen Campbell estate

Country music fans in Illinois and throughout the world mourned the passing of Glen Campbell after his long, arduous battle with Alzheimer's disease. Now, Campbell's heirs and beneficiaries are fighting over his estate, reportedly worth $50 million. On one side of the estate battle is Campbell's widow; on the other, several of his children.

Don't wait too long to begin estate planning and administration

Some people in Illinois hesitate to plan their estates because they don't like to talk about their own mortality. Others have the best intentions when it comes to executing solid plans but procrastinate because they think they are too young to need a plan or don't own enough assets to justify the effort. The good news is that the estate planning and administration process can be tailored to meet the immediate needs and long-term goals of an estate owner.

Elements of mediating probate disputes

When an estate must pass through probate, the parties involved often have great difficulty reconciling an estate plan and with the probate process. If an estate plan does not properly account for probate, or if the decedent did not plan for probate at all, it may significantly alter the distribution of the estate to the various beneficiaries, and may stretch the process out far longer than necessary.

Heirs and beneficiaries may face property problems

When more than one Illinois resident inherits the same piece of land, problems may arise down the line if all owners do not agree regarding what should happen with the land. Heirs and beneficiaries can run into some serious legal issues if, for instance, not all joint property owners concur that the property should be sold. This is basically what happened in a particular case in another state.

Estate planning and administration: the advance directive factor

As people age, they begin to think about various issues that perhaps did not occupy their thoughts as much when they were younger. For instance, older people tend to think about executing estate plans more often than younger people do, although the process is a valuable tool regardless of a person's current age. Also, whether a particular Illinois resident happens to be in excellent or failing health at a given time, an advance directive document can be useful in an estate planning and administration plan.

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Lesser Lutrey Pasquesi & Howe, LLP
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Lake Forest, IL 60045

Phone: 847-295-8800
Fax: 847-295-8886
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Chicago, IL 60601

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