When some individuals decide to make an estate plan, they just pay attention to their largest assets. Who gets the family home? What happens to the vacation home or the cabin? How do they divide their investment portfolio or a substantial bank account? They focus on...
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lake forest illinois trusts and estates law blog
What should you know about powers of attorney?
When creating your estate plan, your primary focus is likely on ensuring your assets get passed down to your beneficiaries as you intend. While that’s undoubtedly an important goal, you should also do what you can to protect those assets – and your broader interests –...
Should you omit someone from your will to disinherit them?
When someone makes an estate plan, they decide how they want to distribute their assets. Certain people may expect to inherit, such as children or a spouse. Disinheriting someone means cutting them out of the estate plan despite this expectation. Not everyone can be...
When does a testator lack the capacity to draft a valid will?
Individuals can put together testamentary documents before they die that will determine what happens to their assets after their death. A will can designate specific beneficiaries for someone's resources and name a representative to handle estate administration....
How can a pour-over will support an estate with a trust?
A trust can be a very useful estate planning tool. It can give someone more control over one's legacy and enhanced protection from collection activity later in life. Many people creating a trust transfer significant assets to fund the trust. They may then expect that...
3 crucial steps to take after a mental health diagnosis
As you probably know, estate planning allows you to arrange your affairs as you please and ensures that your final wishes are fulfilled upon death or incapacitation. Everyone can benefit from an up-to-date estate plan, but it may be even more critical for those with a...