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March 2019 Archives

Avoiding inheritance disputes with careful planning

All of us would like to believe that our loved ones are not the type to fight over inheritance when we pass away, but for most people that is simply not true. Even strong, caring families with few internal conflicts can descend into who-gets-what arguments if they are motivated by financial gain or loss, or if some piece of property holds particular sentimental value.

Wills and trusts: Valuable estate planning tools

When an Illinois resident executes an estate plan, he or she may customize the documents in accordance with his or her goals. For many, asset protection is a high priority. Others own businesses and want to protect those interests, as well as incorporate succession plans as part of their estates. There are numerous types of wills and trusts; while estate owners can choose which options best fit their needs, they'll want to avoid not having either because that can lead to probate complications down the line for loved ones.

Heirs of estate prepared to fight back over reverter clause issue

Illinois high school football fans often gather under stadium lights during annual seasons, cheering on their favorite teams. Many high schools play football or host other activities on land or in buildings that exist thanks to donations from benefactors who are now deceased. In fact, a school in another state plays all its home games on property that was donated by a local married couple in 1927. A legal problem has arisen regarding the land, and the heirs of the estate are speaking out against school officials, who have filed a lawsuit to gain control of the land.

Estate litigation: Michael Jackson estate is suing HBO

A two-part series recently aired on Home Box Office that has upset the Michael Jackson estate. The music icon's drug-overdose death rocked the world in 2009. Some time later, the estate sold its stake in EMI Music Publishing to Sony, which generated $400 million to the estate in 2018. The recent subscription channel series has prompted estate litigation, with Jackson's estate filing a lawsuit against HBO.

Creating a trust means you leave something for an addicted heir

Watching someone you love sink into addiction is painful. Unfortunately, despite your best efforts, there is really nothing that you can do to help your loved one overcome their addiction. Addiction tends to impact many people, as the addict can steal from or lie to family members and loved ones to continue accessing their drug of choice.

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