When the patriarch or matriarch of a family dies, one common consequence is infighting among their heirs. While family dynamics do tend to play out after a death much as they did during the decedent’s lifetime, there are ways to avoid some of the worst fallout after a...
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Estate Planning And Administration
Progressive estate taxes leave the wealthy with more to lose
Wealth preservation is an important consideration for those with substantial assets in Illinois. Whether you own real estate, investment accounts or a business, you likely want to pass as much of your personal property on to your loved ones as possible. Estate...
Drafting a business succession plan? Here are a few things to consider
You've put a lot of effort, energy and time into building a successful business, and you want to make sure that you have a proper succession plan in place. You want the business to keep on thriving long after you're gone. But where do you even start? It's difficult to...
3 factors often missed in an estate plan
A comprehensive estate plan can include several documents and countless instructions. Individuals will attempt to clearly dictate who gets what while preventing unnecessary emotional disputes between surviving loved ones. Unfortunately, when detailing numerous...
It’s a major risk to procrastinate estate planning
You may hear that estate planning is one of those things that many people fail to do. For instance, perhaps you read that most Americans haven’t done any estate planning. You may find yourself wondering how anyone could entirely fail to do something so important. The...
Leaving too much to your children may not be in their best interest
If you worked hard to give your family opportunities you never had, it is satisfying to think you have achieved your goal. You can sit back, knowing that your children will not have to go through the same struggles you did. They will never have to wonder where the...
Estate planning details you may have overlooked
When it comes to estate planning, it’s easy to focus on the basics such as creating a will, living trust and living will. However, if you neglect to go deeper, you could end up missing out on something that makes life easier on you and/or your family. Here are some of...
Stepsiblings, blended families and the potential for estate disputes
Many blended families work out very well and all of the new siblings get along wonderfully. However, there are also cases in which things do not go as smoothly as hoped. The two sides of the family may remain at odds or never really get close. When it comes to estate...
The family business is not an ATM
Your parents own a business, and you know that the succession plan they’re putting in place is the focus of most of their estate planning -- either that, or they’re going to sell the company and give the assets to you and your siblings. Either way, this is a...
Tax planning for your estate will preserve your lasting legacy
Whether you make your money by working a job, investing your assets or renting out real estate to tenants, you pay taxes on that income as you earn it. Unfortunately, if you don't start planning now to protect your heirs and the legacy you want to leave them, it is...


