Estate Planning

Will Your Relatives and Non-Relatives Receive What You Intend?

Posted on October 21, 2021

naperville estate planning lawyer

One of the most important goals in estate planning is to make sure that your wishes will be known and carried out after you pass away. It is an invaluable resource for making sure that you have legally documented who should receive what, so there are fewer arguments and legal issues. Having a well-written, detailed, and up-to-date estate plan can prevent future conflict as well as give you the maximum amount of control over where you want your money and possessions to go.  Too often, people think verbal agreements or […]

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Do Your Aging Parents Have the Right Estate Plan?

Posted on October 14, 2021

naperville estate planning lawyer

Many older people have wills and plans that were created when they were younger, or before they had additional family members, such as grandchildren. Their circumstances and families have most likely changed since the documents were drawn up, as well as there being changes in the laws. Talking to your parents about their estate plan can be uncomfortable. However, planning for how their estate should be handled in the event of their death or incapacitation is an important conversation to have. Having an organized and current will or estate plan […]

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Do You Have a Plan to Protect Yourself and Your Children if Your Spouse Dies? 

Posted on October 7, 2021

naperville estate planning lawyer

The prospect of losing a spouse is a frightening and saddening one. No one likes to think about what would happen to their family were their spouse to die, but it is wise for a family to consider the possibility during estate planning. It is essential to know how you would keep going after the death of a spouse – especially for families with young children. An estate planning attorney can work closely with your family to build a plan to protect you and your children’s financial well-being in this […]

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What Happens to Joint Accounts When a Spouse Passes Away? 

Posted on September 21, 2021

naperville estate planning lawyer

Most married couples share at least one financial or investment account. You may be wondering: What happens to shared accounts when one spouse passes away? Is there anything we can do legally so we know what will happen to one spouse’s interest in those accounts when the other passes away? An estate planning attorney will be able to help. Making arrangements regarding joint accounts is a part of the estate planning process, and it is something every married couple should plan for.  What Happens to Jointly Owned Finances When One […]

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How Do You Leave Material Possessions to Your Loved Ones?

Posted on September 14, 2021

naperville estate planning lawyer

The majority of people who plan their estates provide for how their monetary assets and real estate will be distributed. Bank accounts, stocks, houses, and businesses are the first things people think of when they begin the estate planning process. Material possessions, however, are often forgotten about. The importance of including material possessions in your estate plan is not to be underestimated – family conflicts over personal belongings during estate distribution are quite common. You have the opportunity to reduce the risk of conflict among your loved ones by including […]

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Why Is a Financial Power of Attorney Important?

Posted on September 7, 2021

naperville estate planning lawyer

In the event that you become incapacitated, it is crucial to have someone you trust designated to make financial decisions for you. This trusted person, called an “agent,” will be able to look out for your financial interests when you can no longer do so, either temporarily or permanently. By creating a financial power of attorney, you can rest assured that the person you choose as your agent will be able to manage your finances and help with things like making sure your bills are paid.  How Long Does a […]

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What Will Happen to Your Business When You Retire or Pass Away?

Posted on August 24, 2021

naperville business lawyer

As a business owner, it is important to always look ahead to the future. Day-to-day concerns can sometimes get in the way of bigger picture concerns like estate planning and succession planning. However, planning for what happens to your business if you retire or pass away is a crucial responsibility that should not be overlooked. If you procrastinate succession planning and you suffer an unexpected illness or incapacitating injury, what will happen to your business? What if you experience some changes in your family that require you to retire sooner […]

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How Can I Leave Assets to Family Member Who May Not Be Ready to Receive Them?

Posted on August 17, 2021

naperville estate planning lawyer

Estate planning allows you to dictate exactly how your assets are distributed to heirs upon your death. If you are like many people, you may have concerns about leaving an inheritance to beneficiaries who are not ready to receive it. Some beneficiaries may be too young to manage the funds or property they receive. Other beneficiaries may have poor money management skills or simply lack the maturity to handle the inheritance appropriately. If you are interested in leaving assets to your loved ones but you have concerns such as these, […]

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What MacKenzie Scott and Melinda Gates Can Teach Us About Charitable Giving

Posted on August 10, 2021

Naperville estate planning lawyers

Charitable giving allows us to contribute to the causes we believe in and, ultimately, make the world a better place. Philanthropy also gives us an avenue through which we can leave an enduring legacy. If you have the means to donate to charitable causes, you may be interested in including charitable giving in your estate plans. Two women who have recently been making headlines with their philanthropic pursuits are Melinda Gates and MacKenzie Scott. These women married two of the wealthiest men in the world. Now, they are using part […]

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Tips for Choosing a Guardian for Minor Children in Your Estate Plans

Posted on August 3, 2021

naperville will lawyer

There is a misconception that estate planning is not a concern for people in their 20s, 30s, and 40s. Many falsely assume that younger people do not need to worry about establishing a will, trust, advanced directive, or other estate planning documents until they reach retirement age. The reality is that it is never too soon to start building your estate plan. This is especially true of parents. If you are a parent with minor children, estate planning allows you to choose a guardian for your children if you die or are […]

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