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December 2018 Archives

Estate planning issues re things that aren't included in wills

It is never too soon to execute plans to protect assets and provide financial support to loved ones for their future. The estate planning process is the most often used tool for doing so. It is a highly customizable process that may be quite simple or tremendously complex. It is important for Illinois estate owners to research laws pertaining to such matters before implementing a plan; for instance, estate owners will want to know what can and cannot be included in a will.

NFL team subject of litigation re trust set up by previous owner

NFL fans know that Illinois is home to the Chicago Bears. As in most states, however, there are likely football fans in this state who cheer for other teams, as well. While most people simply follow what is happening on the field, some also enjoy reading behind-the-scenes news about their favorite players or franchises. One team in particular has become the subject of a legal dispute involving a trust the owner executed before stepping down from his position.

Heirs have been entangled in dispute since 1954

A situation regarding ownership of an 11-acre island has been ongoing for decades now. Illinois landowners planning their estates may want to take note of this case to help their heirs avoid similar problems in the future. A key factor in this particular situation appears to be the way the estate owner worded things (or failed to stipulate them) in her last will and testament.

Prevent probate problems for heirs and beneficiaries

Many Illinois residents avoid discussions about mortality, which is not atypical, as most people would rather think of something other than the fact that they are going to die someday. However, executing a solid estate plan while you're of sound mind can have many benefits. One of the most important things you can do by planning ahead is help your heirs and beneficiaries avoid probate trouble.

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