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June 2018 Archives

Adult children wonder if they have grounds for probate litigation

Adult children in Illinois facing problems regarding their parents' final wills may want to consider points raised in a recent online article about a similar situation in another state. Siblings who recently mourned the loss of their father say they believe their stepmother is robbing them of their inheritance. Several legal issues may come into play as they try to resolve their problems and determine if they have grounds for probate litigation

Be mindful of estate planning issues in divorce

Many different issues can impact a person's decisions when it comes to planning an estate. Illinois residents currently considering divorce may especially want to consider the points contained in this post, as this is one aspect that can significantly affect the estate planning process. The good news is that there are support networks in place to assist those in need of guidance regarding estate plans as they intersect with divorce.  

Real estate tycoon's heirs and beneficiaries in dispute

James F. Cotter died in 2017. Known for his real estate empire and cowboy lifestyle, he suffered a cardiac arrest, leaving behind five children and a wife. Cotter's heirs and beneficiaries are in the midst of an acrimonious legal battle over his estate.

How to prepare for estate taxes in 2018

Estate taxes can quickly deduct thousands from the value of your estate, but the good news is that most people can avoid taxation completely. Estate taxes are not the same as probate expenses, and they aren't the same as income taxes paid after death. These taxes are usually between 45 and 55 percent of the estate's value over a certain amount.

Funding trusts is a high priority

When an Illinois resident executes an estate plan, a number of topics are usually addressed. Wills and trusts are basic components of many estate plans. There are various types of both kinds of documents, and determining which options will best help an estate owner accomplish his or her goals can be challenging. Especially when it comes to funding trusts, it can be helpful to seek experienced counsel.

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