A Commitment
to Each Client.
Anyone with a very large estate may have to worry about federal estate taxes. Those obligations apply regardless of what state someone lives in at the time of their death. However, only a few states assess state-level estate taxes, and Illinois is one of them. Those...
Many adults, especially younger adults, don’t have any type of estate plan created. While it’s not a pleasant topic to think about, estate planning is your chance to say who is going to get what when you pass away. A person who dies without an estate plan dies...
For the testator who created the estate plan, the assets they left behind for specific beneficiaries may have been their main focus. It is common for people to put a lot of consideration into what they want their loved ones to inherit. They may choose beneficiaries...
You’ve worked hard your entire life and built a substantial amount of wealth. You probably own a business and a home among other assets. This means you should figure out what will happen to them when you pass on. And one of the most popular estate planning tools you...
One reason that people will make an estate plan is that they know that this lowers the odds that their heirs will be involved in a dispute. Simply creating a plan can go a long way toward preventing disputes by providing the necessary guidance. However, this isn't to...
For most people, the first step to estate planning is drafting a will. This sets in motion the distribution of your assets should you become incapacitated. You can leave an inheritance behind for the people you treasure, such as your family and close friends. ...
As a responsible adult, creating an estate plan makes sense. This plan, when established properly, will protect your loved ones and ensure your assets are distributed based on your wishes after you pass away. Making an estate plan may seem simple; however, some...
You want as much of your property as possible to pass to the people you love when you die. Careful estate planning can help you minimize the risk of creditor claims and taxes cutting into what your loved ones inherit. Unfortunately, your plans can end up undermined by...
There’s nothing worse than being coerced into something that makes you uncomfortable, i.e., being a victim of undue influence. Undue influence is when a person uses their relationship with someone else as leverage to pressure said individual into making a decision,...
One scary thing to think about is becoming incapacitated to the point that you can’t make decisions for yourself. This means that someone else will have to take care of your finances and your medical care decisions. You can provide protection for yourself by taking...
