Wills And Trusts

You may think that leaving a will sorts out all your estate plans. However, that is not entirely true. For instance, your heirs may mismanage your estate, and there will be nothing to show for it within a few years. In short, a simple will exposes your estate to the...

A dynasty trust carries on from one generation to the next. Unlike other irrevocable trusts, dynasty trusts are not subject to the anti-perpetuity rule that ends most trusts after some time. They last forever, as long as there are assets held in the trust. You may...

If you are considering contesting someone’s will, there are two questions you should ask yourself. Can I and should I? The law is clear on who can contest and a will and why. As to whether you should, only you can make that decision. On what grounds can you contest a...

When people enter into estate planning, often there are reservations over what the people who receive the estate, or beneficiaries, will do with it. Will they responsibly manage it, or will they waste the gift? Instead of leaving it up to chance, or blind faith, many...

If you have considerable assets, you likely plan to leave at least some of them to your child. If the thought of doing so gives you some anxiety because you worry they might squander the money, then you'll be happy to know that you have options. In a post earlier this...

Protecting your assets remains a priority in estate planning. You want your heirs to reap from the benefits provided by your large estate and the abundant assets available. However, you do have some concerns related to one of your adult children. Why? Because he is...

Protecting your assets for your heirs may be a top priority for you, especially when you’ve worked hard to build those assets up. Many people focus on their will as the main vehicle to pass assets to their heirs or they establish trusts to preserve those assets.  Some...

A will or a trust includes many essential provisions. One that often does not get as much attention as others is the no-contest clause, sometimes referred to as the forfeiture or terrorem clause. This provision, in a way, wants everyone to understand that the testator...

There are many reasons that Illinois residents and others tend to avoid discussions about end-of-life topics. This avoidance often causes procrastination when it comes to writing a last will and testament. In fact, some people even believe that executing a will...

As 2019 nears its end and Illinois residents and others start planning for a new year, many people will decide it is time to execute their estate plans. The estate planning process can be simple or complex, depending on a particular estate owner's circumstances, needs...