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July 2019 Archives

Financial power of attorney: How does it work?

Many Illinois residents worry about becoming incapacitated or not being able to act independently when it comes to financial or health care matters. This is one of many reasons a lot of people grant a power of attorney. It is definitely something to consider, particularly if a person wishes to designate someone to make financial decisions and transactions on his or her behalf.

Wedding bells soon to ring? Don't forget estate planning talks

When an Illinois couple makes plans to marry, there may not seem to be enough hours in the day to get everything done before the big event. Where will the wedding take place? Who will be invited? How much money will they spend and where will they live after they are married? In addition to these topics, couples who want to start married life off on the right foot should include discussions about estate planning in their pre-wedding preparations.

Understand the will requirements in Illinois

Adults often think they have everything in order for life's necessary tasks. One thing that you might not be prepared for is what will happen to your estate when you pass away. Even though you might want to put this out of your mind, you need to get an estate plan created while you can still legally do this.

Heirs and beneficiaries: Complex issues in Nipsey Hussle case

Rap music star/entrepreneur Nipsey Hussle was gunned down in front of his own clothing store some time ago. In the wake of his sudden, tragic death, complicated issues regarding heirs and beneficiaries have arisen that will undoubtedly have a significant impact on the lives of his two children. Members of his immediate family, as well as the biological mothers of each of his children, are entangled in litigation regarding approximately $2 million the kids are in line to inherit. Illinois residents facing similar issues may want to follow this case.

Heirs and beneficiaries: Avoid stress over a decedent's home

When a loved one dies, his or her Illinois home might wind up being sold. It may also be left as an inheritance to certain heirs and beneficiaries as designated in a last will and testament. However, if a person dies without having executed a will, what happens to the home may be complicated and may even spark discord between family members.

Will your family need to pay an estate tax on their inheritance?

One of the most common reasons for creating an estate plan is the desire to leave a legacy that protects the people we love. Some of the most critical parts of an estate plan include naming a guardian for your minor children and creating legal guides that can help your family make decisions about your medical care and other issues in the future.

Problems with wills and trusts can be challenging to resolve

Illinois families do not always get along. This is especially true in cases where wills and trusts are contested. Even people who once enjoyed close, loving relationships may resort to nasty name-calling and accusations when it comes to fighting over a loved one's estate.

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