A Commitment
to Each Client.
After you pass away, your adult children could get involved in an estate dispute. This is something that many parents worry about because they don’t want siblings to become estranged or to have a long-term falling out over their inheritance. How do you prevent this...
There are numerous documents people can use when drafting an estate plan. Some of them take effect while the testator is still alive, while others only have authority after their death. Testamentary documents that gain authority after someone's passing are often the...
If you just leave an inheritance to someone in your will, you don’t have any control over how they use it. They won’t get it until you pass away, and then they will take direct ownership. If you give a beneficiary $50,000, they could spend it on anything from a...
A no-contest clause essentially means that beneficiaries are not allowed to challenge an estate plan. If they do, then they don’t get an inheritance. For example, say that there are two beneficiaries, one who receives $100,000 and another who receives $500,000. The...
When life throws curveballs, ensuring that your estate plan reflects any significant changes can help your arrangements function properly. A divorce is one life event that may warrant some alterations to your existing plan. In Illinois, this transition period offers a...
The family members of someone who has recently died sometimes feel compelled to take legal action against their estate. In some cases, there is clear evidence that an older adult had already experienced significant cognitive decline when they drafted or updated their...
The great wealth transfer has already begun, but it generally refers to a shift in wealth in America over the next two decades. Essentially, Baby Boomers have roughly $84 trillion in assets. This is the greatest amount of assets ever to be passed down to the next...
You may have an estate plan in place, but have you ever updated it? Many people forget to alter their estate plans over the years. This can create problems during the probate process when it is unclear how certain unaccounted for assets should be distributed. It is...
When a loved one passes away, managing their estate can be a daunting task. If it includes digital assets, unique management concerns – and associated disputes – may arise, resulting in an even more complex and stressful set of circumstances for you to deal with. ...
The concept of estate planning often conjures images of people meticulously dividing assets among their children. However, the importance of estate planning extends far beyond traditional family structures. Even for those without immediate heirs, a well-crafted estate...
