The concept of estate planning often conjures images of people meticulously dividing assets among their children. However, the importance of estate planning extends far beyond traditional family structures. Even for those without immediate heirs, a well-crafted estate...
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lake forest illinois trusts and estates law blog
Mirror vs. mutual wills: What’s the difference?
Couples often do their estate planning together, if only to make certain that they both have all of their bases covered and are on the same page. Most of the time, couples choose either mirror wills or mutual wills. Mirror wills Mirror wills are essentially two...
How can testators prevent fighting over their estate plans?
The creation of an Illinois estate plan can protect someone’s interests as they age and can establish a legacy after they die. Unfortunately, the best intentions of testators can end up undermined by the conduct of their family members. Children, grandchildren and...
Faster transfers with a Payable On Death account
When making an estate plan, it’s important to be aware that the transfer of assets can take some time. Just because you chose a specific beneficiary to inherit a certain amount of money does not mean that they take control immediately when you pass away. The estate...
When fortune favors you, act quickly to preserve your bonanza
Are you looking at a sudden, unexpected influx of asset? Whether you recently won a lottery or received a large personal injury settlement, transitioning from an average annual income to significant wealth requires careful planning. For most people, the urge to...
What happens when you don’t trust a trustee?
Trusts are very popular ways of making sure that an estate’s assets do the most good and fulfill a testator’s wishes over the long run. Having the right trustee to manage and administer a trust is, naturally, critical. What happens, then, if you have lost faith in a...


