When a person passes away and leaves a trust, that trust typically becomes irrevocable. The trust needs to be managed by someone responsible for its administration (called a trustee). In Illinois, once the original grantor is deceased, the successor trustee takes over...
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When does an estate owe income taxes?
The executor or personal representative of an estate can uphold an individual's last wishes. They can help protect the beneficiaries or heirs who might inherit from the estate. Their efforts can provide support and comfort to those who have recently lost a loved one....
How does an irrevocable trust work as part of an estate plan?
Estate planning is a challenging undertaking for some people, partially because they may not fully understand the options that are available for passing their assets down to their loved ones. While some people opt to do this in their will, they may also choose to use...


