Heirs And Beneficiaries

When the sale of a property occurred in connection with the estate of the man who founded the Boy Scouts of America, the money from the sale needed to be reinvested. If the heirs of the BSA founder did not reinvest the money within a year, they would have to pay taxes...

Every Illinois estate owner can execute a unique plan to protect assets, transfer property, list instructions for business succession and more. Many estate owners include documents in their plans that pertain to heirs and beneficiaries. Issues pertaining to a person...

When an Illinois resident executes an estate plan, it may not be enough to sign off on the documents and then be done with it. To the contrary, it is important to periodically review one's plan, especially if life changes prompt a need to update an existing plan. A...

Two men in another state went into business together in the 1990s. They were co-owners of a motel and remained partners in business for approximately 25 years. One of the men has since died, leaving his three heirs his half of the business. As sometimes occurs in...

If adult children in Illinois are named as heirs in a parent's will, it is logical to assume they would hope to avoid legal obstacles when the time comes to administer their loved one's estate. In the past, several celebrities have taken legal steps to protect their...

When an Illinois resident executes an estate plan, there is often a last will and testament included. An estate owner might name heirs and beneficiaries to inherit certain assets after he or she has passed. If those so-named are not at all educated about financial...

Losing a loved one is a sorrowful event many people in Illinois and across the country will experience this year. Thousands of people will learn that they have been named as heirs and beneficiaries in an estate plan. In some situations, the administration of a...

Illinois estate owners, as well as anyone who believes he or she is legally entitled to assets from a deceased person's estate, will want to seek clarification on numerous legal terms. For instance, many people confuse the terms heirs and beneficiaries, mistakenly...

Pets are often considered family members by those who own them. In Illinois and throughout the country, people commonly refer to their pets as "fur babies," and often experience intense grief when a cat, dog, bird or other beloved pet dies. On the flip side, numerous...