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....
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lake forest illinois trusts and estates law blog
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...
Will the Corporate Transparency Act impact your estate plan?
As you may know, an estate plan must be reviewed and updated to reflect changes in your life or assets. Another reason is due to new and changing laws and regulations. One new law, the Corporate Transparency Act, may significantly impact your estate plan if you plan...
Can it be helpful to give away assets before you die?
When many people are focused on estate planning, they are merely thinking about the future. They write a will describing which heirs and beneficiaries should get specific assets when they pass away. They will then wait for that day, and the estate executor handles the...
How age and health issues can lead to probate litigation
Estate planning allows someone to take control over their resources and provide for the needs of their closest family members. Under Illinois state law, most adults have the legal authority to draft estate planning documents. Unfortunately, sometimes those left behind...