Illinois estate owners, in particular those who are parents, have no way of knowing how their loved ones will act once they die. While no one wants to think that his or her heirs and beneficiaries will fight over the belongings the estate owner leaves behind, it occurs far more often than might be expected and can lead to permanent rifts between family members. There are several ways to help loved ones avoid such problems, however.
A clause that can prevent feuds between heirs and beneficiaries
Durable financial power of attorney: Choosing an agent
Do you have concerns about what will happen to your finances in the event of an incapacitation? No one wants to think about this, but planning for the future is the responsible thing to do.
Wills and trusts topics of discussion after Burt Reynolds' death
A court in another state was the location where Hollywood superstar Burt Reynolds' final will was filed recently. The actor passed away suddenly after a 911 call reported that the 82-year-old male was having breathing trouble and was suffering chest pains. Rescue workers arrived and transported Reynolds to a hospital, but he did not survive. As sometimes happens when wills and trusts are filed in Illinois, there were a few surprising details attached to Reynolds' case.
Rush Enterprises subject of probate litigation battle
W. Marvin Rush, II, built the largest commercial truck enterprise in the United States. With 100 truck centers spanning more than 20 states, Rush left a legacy when he died that included shares worth more than $70 million at the close of a recent stock market day. The problem is that his widow, who happened to have been his third wife, and his son, W.M. Rush, III, are engaged in probate litigation that has become quite acrimonious.
Know when it's time to take over your parent's decisions
If you're caring for a parent and potentially their estate, knowing when they're no longer of sound mind is important. Legally speaking, you may only have the right to take over making decisions once you can show that your mom or dad does not have the capacity to make good decisions or to understand the facts of a case.
Heirs and beneficiaries: No will often leads to legal problems
Soul music fans in Illinois and throughout the world are mourning the recent passing of Aretha Franklin. Her music topped the charts for years and continues to touch the hearts of millions. Franklin died at age 76, after battling pancreatic cancer. As often happens in situations where people do not execute last wills before they die, Franklin's potential heirs and beneficiaries may face complications.
