Lesser Lutrey Pasquesi & Howe, LLPLesser Lutrey Pasquesi & Howe, LLP2026-07-20T21:33:46Zhttps://www.llphlegal.com/feed/atom/WordPress/wp-content/uploads/sites/1301773/2021/01/cropped-site-icon-image-lesser-32x32.pngOn Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[What should you include in your estate plan?]]>https://www.llphlegal.com/?p=495092026-07-20T21:33:46Z2026-07-20T21:33:46ZWhat happens to your assets after you pass away? This question is often decided by your estate plan. An estate plan is a legal arrangement that allows you to decide how your assets are distributed after you pass away.
There are several important documents in an estate plan. Here is what you should know:
What is a will?
The most common legal document of an estate plan is the will. A will allows you to name beneficiaries. Beneficiaries can inherit assets from your estate. You can name a spouse, children, grandchildren, friends and colleagues as beneficiaries. You can also use a will to name an executor of the estate. The executor is responsible for managing your assets after you pass away and distributing them to beneficiaries.
What is a trust?
If you want to protect your assets from disputes, estate taxes and debt collectors, you may want to consider drafting a trust. A trust allows you to put your assets in the name of a trustee. The trustee is responsible for managing your assets and distributing funds to your beneficiaries. There are different kinds of trusts that allow you to design when and how assets are distributed.
What is a power of attorney?
Your estate plan can include a power of attorney. A power of attorney can be responsible for your health if you become incapacitated. You can allow your power of attorney to control your medical care and financial matters on your behalf.There is much more you can add to your estate plan. You can reach out to professional legal guidance to learn more about how an estate benefits you and your loved ones.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Estate planning essentials for unmarried long term partners]]>https://www.llphlegal.com/?p=494412026-07-06T18:59:53Z2026-07-06T18:59:53ZProtection if you become incapacitated
All adults should designate someone to have power of attorney (POA) to handle their finances and oversee their medical care if they become incapacitated. If you want that to be your partner, putting the appropriate documents in place will save them the trouble of having to go to court to get POA and perhaps face disputes from family members at an already-difficult time.
It’s also important to have a living will to detail your wishes for end-of-life care and to name your partner to act as your health care agent. By codifying your wishes, they and your medical team will know what you want even when you can’t speak for yourself.
Designating the inheritance of your assets
If you want your partner to inherit any of your assets, you need to codify that in a will or trust. Every adult should at least have a will in place. If you die without one (known as “dying intestate”), state law determines who inherits your assets. Surviving spouses and children (if there are any) have primary inheritance rights, with other relatives next in line if someone leaves no surviving spouse or children.
However, Illinois intestacy law doesn’t recognize non-familial or non-marital relationships. Therefore, your partner could potentially end up with none of your assets if you died intestate.
There are other estate planning steps you can take like adding titling accounts and other property as joint tenants with right of survivorship (JTROS) or adding transfer-on-death (TOD) designations. You can name beneficiaries directly on your retirement and other investment accounts.
If you and your partner want to ensure that the bulk of your assets (or even selected ones) pass to the other after you’re gone – and that you can make decisions for one another in the event of incapacitation – you each need to do some careful estate planning to codify your wishes. Every situation is highly unique. That’s why experienced estate planning guidance can make all the difference in protecting your future.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Understanding conflicts of interest for trustees]]>https://www.llphlegal.com/?p=494302026-06-29T16:00:32Z2026-07-03T15:56:46ZSituations that may create a conflict of interest
As a trustee, you may need to make decisions that involve your financial interests or your relationship with the beneficiaries. Some of the most common situations include:
Buying property from the trust or selling your own property to the trust
Managing a family business owned by the trust while also serving as an owner or executive
Giving one beneficiary greater access to information or distributions without a valid reason
Using trust property, such as a vacation home, for personal purposes
Hiring your own business or a close family member's business to perform work for the trust
None of these situations automatically violates your fiduciary duties. However, they can lead to disputes if beneficiaries believe your decisions favored your interests instead of the trust's interests.
Practices that can reduce the risk of disputes
If your decisions later come under review, your records and the steps you took before acting will matter. Trustees commonly demonstrate that they are fulfilling their responsibilities by:
Maintaining complete financial records
Keeping trust assets separate from personal assets
Communicating with beneficiaries as required by the trust and applicable law
Documenting major decisions involving trust assets
Obtaining independent appraisals before selling or purchasing trust property
Following the trust's terms throughout the trust administration process
These practices create a record of how you managed the trust and why you made important decisions. They also show that you considered your responsibilities at every stage of the administration process.
Why conflicts of interest can lead to litigation
Many trust disputes begin when beneficiaries believe a trustee acted for personal benefit instead of carrying out the trust's purpose. Those claims may involve property transactions, unequal treatment of beneficiaries, business decisions or the use of trust assets.
Serving as a trustee does not require you to avoid every situation that could raise concerns. It does require you to recognize potential conflicts and handle them in a way that stays consistent with the trust document and applicable law. Looking at each decision through that lens can help you carry out your responsibilities while reducing the risk of future disputes.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Posthumous donations can reduce tax obligations]]>https://www.llphlegal.com/?p=494292026-06-24T09:27:16Z2026-06-24T09:27:16ZBoth income taxes and estate taxes can affect what people inherit. An estate may need to pay the taxes owed by the person who died, as well as estate and income taxes incurred during estate administration.
Heirs and beneficiaries do not receive the entirety of their inheritance until the personal representative has identified and addressed taxes, debts and other financial obligations owed by the decedent or the estate itself. Planning well in advance can help people with substantial resources and dependent family members ensure that their loved ones receive an appropriate inheritance with minimal losses to tax authorities.Strategic charitable giving can be one tactic to reduce tax obligations.
Posthumous giving is a common practice
Individuals who have benefited from social support systems, such as college scholarships, may want to give back to their communities after they die. They may contribute to existing nonprofits. Some even arranged to create stand-alone scholarship funds or charitable trusts.Charitable giving integrated into an estate plan can theoretically helpreduce the income taxes owed by the person who died, which becomes the responsibility of their estate. Charitable giving can also reduce the overall value of the estate, which can reduce the estate tax rate that applies or eliminate the need to pay estate taxes completely. A tax planning strategy often requires multiple different tactics that rely on a variety of different legal documents.Those concerned about their end-of-life income tax obligations or posthumous estate tax responsibilities may want to work with a professional to create a plan in advance. Estate planning strategies that leverage charitable giving as a means ofreducing tax obligations can help testators ensure their beneficiaries or heirs receive as much as possible from their estates.
]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Who pays for a lawyer if people try to remove an executor?]]>https://www.llphlegal.com/?p=494282026-06-09T10:49:53Z2026-06-09T10:49:53ZThe estate often covers all probate expenses
Beneficiaries or heirs who bring a lawsuit against a personal representative may ultimately only reduce what they inherit. If the courts rule that the personal representative fulfilled their responsibilities in good faith and do not remove the personal representative, then the estate is typically responsible for covering the cost of litigation, including the attorney fees incurred during the personal representative’s legal defense.
In scenarios where the courts determine that a personal representative acted in bad faith and engaged in misconduct that warrants their removal or an order of restitution to reimburse the estate for losses, then the personal representative may be directly responsible for covering their own legal fees. Most personal representatives can secure legal guidance without using their own money.
Personal representatives trying to fulfill their estate administration duty can count on having access to legal support without paying out of pocket in most cases. Working with a lawyer can minimize a risk of liability that comes from estate administration and can help personal representatives defend their actions during probate litigation.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Trustee misconduct: Warning signs beneficiaries should watch for]]>https://www.llphlegal.com/?p=494272026-06-01T18:54:27Z2026-06-01T18:54:27ZThe role of a trustee
A trustee is responsible for managing the trust’s assets, which may include:
Handling investments
Paying any bills and taxes
Distributing the assets according to the trust document's terms
Keeping accurate records
Trustees have a fiduciary duty to the beneficiaries, which means everything they do regarding the trust must be in the beneficiaries’ best interests, and they must act honestly, loyally and prudently at all times. If a trustee violates these duties, then the beneficiaries may have grounds to challenge the trustee’s actions in court.
Red flags
Every situation is different, but some common warning signs may indicate a trustee is failing in their obligations. One of the biggest red flags is the lack of communication between the trustee and beneficiaries.
Beneficiaries are generally entitled to information about the trust. If the trustee consistently ignores requests for updates or withholds important documents, it could be the trustee’s attempt to conceal mismanagement.
Part of being a trustee involves maintaining detailed records of trust income, expenses, investments and distributions. Beneficiaries have the right to request an accounting. If the records are incomplete, inconsistent or unavailable, they need to take the situation seriously.
What is self-dealing?
One of the most serious forms of trustee misconduct is self-dealing. This occurs when a trustee uses the trust’s assets for their own personal gain rather than acting in the beneficiaries’ best interests. Examples include:
Using trust funds for personal expenses
Selling trust property to themselves or relatives below fair market value
Favoring one beneficiary unfairly
Beneficiaries who suspect trustee misconduct should not ignore the warning signs. Early action may prevent further harm. Discussing the situation with a legal professional can help them to evaluate the situation, review their options and pursue legal action to protect trust assets.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Why business owners need a succession plan in their estate plan]]>https://www.llphlegal.com/?p=494262026-05-19T11:55:20Z2026-05-19T11:55:20ZMost adults know that they should have an estate plan in place to guide their loved ones about various matters if the creator becomes incapacitated or passes away. They may not realize that business owners need to have a component that other people don’t.
Business owners need to have a succession plan that discusses what will happen to their company when they die. This can provide an income for the family members, provide continuity for the employees and protect future generations.
What does a succession plan contain?
A succession plan explains who will manage operations, inherit ownership and how the business should be valued or transferred. Ideally, the person who takes over the operations management will be trained to do so, which might include things like meeting clients and company decision makers. The succession plan will also address whether the company will be passed to a family member, be sold to a partner, transition to key employees or be sold to an outsider. This depends on several factors, such as the company structure and the willingness of heirs to continue the business. It’s critical for the business owner to ensure that the succession plan doesn’t conflict with the remainder of the estate plan. Because estate plans that include succession planning are complex matters, it’s best to work with someone who’s familiar with these matters so they can assist with getting the comprehensive plan together in a way that meets your goals for your company and your beneficiaries.
]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[How can wealthy families reduce trust disputes?]]>https://www.llphlegal.com/?p=494252026-05-12T08:14:23Z2026-05-12T08:14:23ZClear trust terms reduce room for argument
A trust should not leave major decisions open to guesswork. Wealthy families often need plans that address complex assets, future tax concerns, family businesses and different levels of financial responsibility among beneficiaries.
The trust document should explain who controls the assets, when distributions can occur and what standards guide the trustee. For example, a trustee may need direction on education costs, housing support, business distributions, medical expenses or unequal gifts.
These details matter in trust and estate litigation because unclear language can give relatives competing interpretations of the same document.
The trustee choice can shape the family dynamic
Naming the oldest child as trustee may feel natural, but it does not always work well. A trustee manages assets for other people and that role can create resentment when family members already have old conflicts.
Illinois law treats a trustee’s violation of a duty owed to a beneficiary as a breach of trust. That means the trustee’s judgment, records and communication may face close review if beneficiaries believe the trustee acted unfairly.
For larger estates, families may want to consider whether a neutral trustee, co-trustee or professional fiduciary would reduce pressure. The right choice depends on the assets, the beneficiaries and the amount of discretion the trust gives the trustee.
Communication can prevent suspicion
Beneficiaries do not need to control the trust to expect basic information. Illinois law includes rules on notices, accountings and information beneficiaries may receive, though confidentiality restrictions can apply to some trust assets.
Families can reduce conflict by setting expectations early. Helpful planning steps may include:
Explaining why one beneficiary receives different treatment
Keeping records for loans, gifts and advances
Naming backup fiduciaries before a crisis occurs
Addressing business succession in the estate plan
Reviewing trust terms after major life changes
These steps cannot guarantee peace, but they can make the plan easier to defend if questions arise later.
Strong planning makes conflict harder to fuel
Wealth does not create trust disputes by itself. Conflict usually grows when relatives do not understand the plan, distrust the trustee or believe someone changed the rules unfairly.
A strong trust plan should do more than transfer assets. It should explain authority, reduce ambiguity and give fiduciaries a structure they can follow. For high-value estates, that clarity can protect both the family’s wealth and the relationships tied to it.]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[Consider this decision with spendthrift trusts]]>https://www.llphlegal.com/?p=494242026-05-04T21:31:23Z2026-05-04T21:31:23ZEstate planners often find that adding a spendthrift trust can better suit the needs of an heir than a standard trust. These kinds of trusts add an effective barrier between the principal of the trust and your heir.
Spendthrift trusts are especially useful when an heir struggles with drug or alcohol abuse, is married to a controlling spouse or lacks money management skills. Because the principal remains inaccessible to heirs or others, trust grantors may consider the problem solved.But one important consideration remains.
Be mindful when choosing the trustee over the funds
Estate planners may reason that it is best to choose a close family member as trustee over the funds of another relative. But this is often a misguided choice that foments more harm than goodwill.Choosing one family member to oversee another’s finances creates an inherent imbalance in the relationship. Even when all appears to be well, these arrangements can reinforce lifelong stereotypes of the “responsible” sibling or parent having to manage their “irresponsible” relative’s financial dealings.
What may be a better option
By skipping over family members when appointing a trustee for a loved one’s funds, you spare the feelings of all and don’t appear to make sweeping judgments or rely on old stereotypes. Appointing an unrelated and unaffiliated third party as trustee can preserve familial relationships that could otherwise be strained by the situation.By retaining a professional estate planner, you can learn which options work better for you as you plan how to distribute your estate once you have passed away.
]]>On Behalf of Lesser Lutrey Pasquesi & Howe, LLP<![CDATA[3 qualities an estate executor needs]]>https://www.llphlegal.com/?p=494222026-04-17T03:32:53Z2026-04-17T03:32:53Zqualities to look for when determining who will best fill the role.
Willingness
Executing an estate takes time and effort, and while some payment is possible, most executors could use that time more profitably elsewhere. Therefore, it is essential that the person you pick is genuinely willing to give up their time for this.
This is why people often pick family members, including those who may be beneficiaries themselves, although this can have its own complications at times. It’s also why some people prefer to pay a professional third party to execute the estate rather than ask a favor of someone close to them.
Organization
There are lots of tasks to complete when executing an estate, and there are deadlines to meet. You need someone who is on the ball, efficient and diligent because delays and mistakes can have a significant cost.
When someone is clearly organized, it also helps to reassure the interested parties that things are being done as they should. This can reduce the chance of suspicion and unhappiness that could lead to a challenge.
Honesty
It’s important to choose someone you trust and preferably someone that others trust. However much you trust your best friend, if your wife has always thought he was a bit sketchy or your brother once had a bad business experience with him, then it may be best to look elsewhere.
Learning more about how probate and estate administration work and getting experienced estate planning guidance can help you select someone suitable and document your choice correctly in your estate plan.]]>