Non-probate assets are types of property that won't have to go through the probate process after a person dies, and will instead pass directly to the intended heirs shortly after death. Avoiding probate saves time and money, but non-probate property can sometimes pass to unintended beneficiaries and creditors. Careful estate planning is essential to avoid probate and still protect assets from transferring into the wrong hands. Which Assets Are Not Generally Subject to Probate? Transfer or … [Read more...]
Archives for February 2018
Estate Planning Essentials for Blended Families
Posted on February 7, 2018 //
When Illinoisans remarry, they should review their estate planning documents to ensure that their assets pass to their intended beneficiaries after they die. Couples who have remarried should discuss how they want their assets to be divided to provide for blended family members from all marriages. They should review and update their existing wills, trusts, retirement accounts, life insurance policies, and titles to make certain that their assets won't be passed to ex-spouses. An estate planning … [Read more...]
