Asset Protection Trusts Offer Peace of Mind for Your Financial Future

Asset protection trusts are effective tools to protect a person's property from judgments, creditors, and lawsuits now, and in the future. Property held within an asset protection trust is not considered to be the property of the beneficiaries, so it can typically escape seizure for debt collection. Learning more about the features of domestic and offshore asset protection trusts can help ensure that an appropriate type of trust is established. The Basics of the Asset Protection Trust Asset … [Read more...]

Do You Need to Reopen Probate?

Once a probate estate has been fully administered and the case has been closed, it typically stays closed, but in a handful of situations, it may make sense to reopen probate. Reasons to Reopen Probate Illinois has very broad probate laws that regulate when an estate may be reopened. Under the Illinois Probate Act, an estate can be reopened at any time if a portion of the estate was never settled, if new assets, creditors or wills were discovered, if an heir was not notified of the opening or … [Read more...]

These Six Types of Property Won’t Need to Go through Probate

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...]

Estate Planning Essentials for Blended Families

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...]

When a Spouse is Excluded from a Will in Illinois

In general, a testator in Illinois can disinherit anyone – including a spouse. In fact, Illinois is one of the few states that allow married people to use estate planning techniques to ensure there is no eligible property left for surviving spouses claiming renunciation shares. Under Illinois law, however, excluded spouses may still be able to claim a portion of the probate estate. Prenuptial Agreements Take Precedence When the terms of a prenuptial agreement conflict with a will in Illinois, … [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