NFL fans know that Illinois is home to the Chicago Bears. As in most states, however, there are likely football fans in this state who cheer for other teams, as well. While most people simply follow what is happening on the field, some also enjoy reading behind-the-scenes news about their favorite players or franchises. One team in particular has become the subject of a legal dispute involving a trust the owner executed before stepping down from his position.
In Illinois and all other states, executors and trustees have fiduciary duties toward certain others. When someone has a fiduciary obligation, he or she must act on behalf of the estate owner in question in an honorable and transparent manner. This would, of course, include keeping all heirs and beneficiaries informed regarding wills and trusts or litigation pertinent to an inheritance.
A court in another state was the location where Hollywood superstar Burt Reynolds' final will was filed recently. The actor passed away suddenly after a 911 call reported that the 82-year-old male was having breathing trouble and was suffering chest pains. Rescue workers arrived and transported Reynolds to a hospital, but he did not survive. As sometimes happens when wills and trusts are filed in Illinois, there were a few surprising details attached to Reynolds' case.
Food fans in Illinois and the world over were recently shocked and saddened by the news of Culinary TV star Anthony Bourdain's sudden and unexpected death. Sadness was intensified when reports surfaced that he committed suicide. Now, Bourdain's family is back in the news, as questions and complications have arisen regarding his wills and trusts.
When an Illinois resident executes an estate plan, a number of topics are usually addressed. Wills and trusts are basic components of many estate plans. There are various types of both kinds of documents, and determining which options will best help an estate owner accomplish his or her goals can be challenging. Especially when it comes to funding trusts, it can be helpful to seek experienced counsel.
Executing certain documents while one is of sound mind may help ensure that certain actions are carried out (or avoided) if an urgent situation arises where one becomes incapacitated. Living wills are an example of this. When terminal conditions are diagnosed by Illinois physicians, such documents ensure that measures to prolong life may (or may not, depending on personal preference) be taken. Many consider them a vital part of the estate planning process.
Illinois rap fans of the 1980s may remember Eazy-E and his record label, Ruthless Records. As sometimes happens following deaths of loved ones, two of his family members are currently facing off in a dispute over his will. His son has stated that he believes his father was not in his right mind when his then wife convinced him to sign the document that would transfer all his assets to her upon his death.
Many Illinois residents are currently researching ways to protect their families' best interests when they're no longer here to care for them. Parents of young children, especially, may be concerned about who would care for their children if something were to happen to both parents. Such matters can be quite worrisome if one does not know how to access available resources to formulate a solid estate plan. However, with appropriate guidance and key documents, such as wills and trusts, parents can proceed in life confident that their children's future needs will be met.