Estate Planning

How Your Estate Plan Should Change After a Divorce

After a divorce, the legal relationship between the former spouses, necessitating a change in estate plans. Many individuals name their spouse to important roles and this work must be unwoven to protect a person's interests after divorce. Some aspects of the estate plan that may need to be changed include: The Will Spouses may have named each other the executor of each other's will. Additionally, the spouse may stand to inherit everything. Changes are usually required to the will to avoid … [Read more...]

Update Your Will and Avoid Probate Court

An updated will can protect assets that are meant to go to chosen family members and heirs when a person dies. Without a will, Illinois intestate succession laws will dictate through probate what happens to an individual’s business, savings, personal property, and possibly even minor children. If problems arise, a probate attorney can advise beneficiaries on how to settle the deceased person's estate. Updating a Last Will and Testament Statistics show that up to 70 percent of adults do not … [Read more...]

Including an Incentive Trust in Your Estate Plan

An incentive trust is used to provide incentive to the beneficiary of a trust to do something, or to refrain from doing something. An incentive trust, established by Illinois estate attorneys, may provide a good way for heirs to make important decisions and lifestyle changes that will impact their future. Establishing an Incentive Trust Fearing a generation of trust-fund kids without jobs, responsibilities or obligations, many families are establishing incentive trusts for beneficiaries as … [Read more...]

The Benefits of a Living Trust

Estate planning is a careful mixture of planning for present and future needs. People who put too much of their assets away in a trust may lose the ability to support their lifestyle. People who don’t plan sufficiently may end up paying significant sums in taxes. Living trusts are an estate planning tool that is critical to ensuring that future planning does not detract from present needs. Estate Planning Generally There are two tools that people use to plan their estate the will and the … [Read more...]

Estate Planning: Providing For Adult Children With Disabilities

Adult children with disabilities present some unique estate planning challenges. If these children simply inherit their parent's assets, it can disqualify them from Medicaid or disability. Creating a supplemental trust can help avoid this issue. Even $2,000 can jeopardize a disabled person's eligibility for certain programs. … [Read more...]

Why you need to update your estate plan

You've taken the time to plan for the future and create your estate plan. After working with a Chicago estate planning attorney to make sure all assets are accounted for and all contingencies are covered, you're feeling the satisfaction of a job well done. … [Read more...]

How you can defend an eminent domain action

The activist group Castle Coalition gives Illinois a D+ rating when it comes to protecting property owners against eminent domain. That doesn’t mean there aren’t defenses available, as it is often possible to beat eminent domain with the help of an Illinois real estate attorney who specializes in eminent domain defense. … [Read more...]

Digital Property Creates New Questions In Estate Planning

Estate attorneys are facing a new and difficult challenge: the division and distribution of digital assets after death. Illinois is one of many states struggling to draft legislation to protect digital property for intestate estates, but 2015's Senate Bill 1376 faced significant opposition from online companies. These companies argue opening digital assets to an estate violates the original property holder's right to privacy, and is therefore impermissible. … [Read more...]

The Impact of Divorce on Your Retirement Plans

Getting a divorce after age 50 can have a big impact on retirement. It can reduce income and force full-time or part-time employment in retirement years. According to statistics, one in every four divorces during the last few years was among the baby boomer generation. Whether these figures are the result of failed marriages or longer life spans isn't certain, but divorce among this age group will certainly affect retirement lifestyles. (Article continues below infographic.) A … [Read more...]

New Year’s Resolution #1: Get Estate Documents in Order

The New Year is the perfect time to plan for the future. While your energy is high and your spirits are up, be sure to fit estate planning into your schedule this month. Getting it out of the way now means you won't have to worry about it for the rest of the year. The following are key documents you should prepare, review, then place in secure storage. Living Will. This written statement details your desires should you become incapacitated and unable to make medical decisions for yourself. … [Read more...]

Get Help Today!

Simply fill out the our online form, and one of our attorneys or staff members will contact you to schedule your appointment.

We value your privacy. Your information will not be shared without your permission.

captcha

The use of the internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.
I have read and understand the disclaimer

Memberships & Associations