What Is a Pour-Over Will and How Does It Work?

Within the realm of estate planning, there are many terms and phrases that can be very confusing to the average person. At times, it can feel like planning for your family’s future requires learning a new language altogether, just so you can know what tools and instruments to utilize. Most people are familiar with the […]

The Importance of Keeping Your Estate Plan Up to Date

If you have taken the time to develop an estate plan, you are already ahead of about half of all Americans. In creating an estate plan, you have recognized the importance of planning for the future. Of course, estate planning means more than just deciding who will get which of your assets upon your death; […]

When Should I Consider Naming a New Executor?

A will is the foundation for almost any comprehensive estate plan. As you probably realize your will can contain a variety of provisions that allocate your estate to your chosen heirs, as well as establish arrangements for the care of your minor or disabled children. One of the most crucial elements of your will is […]

What Will Happen to My Tax Obligations if Joe Biden is Elected President?

On Tuesday, the second day of the Democratic National Convention, former Vice President Joe Biden was officially nominated as the Democratic Party’s presidential candidate for the upcoming election in November. The nomination comes as no surprise, since Biden’s last remaining primary opponent,  Senator Bernie Sanders of Vermont, suspended his own bid for the presidency in […]

5 Tips That Could Help You Avoid a Will Contest

As uncomfortable as it may be for many people to think about what will happen to their property and assets after their death, estate planning is crucial to providing loved ones with security and peace of mind. Sadly, when a loved one passes away, families are often fractured by disputes over the decedent’s estate, sometimes […]

How Does Getting Remarried Affect My Estate Planning?

The legal practice area known as “estate planning” is an umbrella term to cover what you want to have happen upon your death. The paperwork that outlines your wishes can include a number of tools, such as paperwork designating who receives what, information on which medical treatments you do or do not want to be […]

What Happens If I Die Without a Will in Illinois?

The creation of a will can be one of the most important legal decisions you will ever make; however, many people put this critical document on the backburner. Life circumstances can get in the way, as your first job may quickly lead you to marriage and children, and before you know it, your kids are […]

Selling Estate Assets to Pay Claims

Many people die with some debt, whether it is credit card debt or unpaid utility bills. The executor is tasked with paying valid claims that have been submitted in a timely manner. When the estate has cash in it, then it is relatively easy for the executor to pay the claims. Problems can arise, however, […]

How to Find a Loved One’s Will

Under Illinois law, the executor must file a decedent’s will with the probate court and, within 30 days, institute a proceeding to have the will admitted to probate. Ideally, the testator would have told relatives where his or her will was being stored while living. Unfortunately, this is not always the case. Instead, nobody might […]

What Is an Executor of an Estate Responsible for Doing?

Being the executor of someone’s estate is a serious responsibility. If someone has appointed you as their executor, you may be a bit overwhelmed and unsure of what the role actually involves. An executor is a trusted individual that is appointed to “tie up loose ends” after a person passes away. Whether you have been […]