Estate Planning

Estate Planning For Business Owners Requires Special Considerations

Posted on February 15, 2022

It is important for everyone to have an estate plan in place that will detail how their assets should be distributed to their heirs and how other issues will be handled following their death. Estate planning can be especially important for business owners, but it can also be more complex. In these situations, a person may own a variety of different types of assets, and they will need to think about the future of their business while also providing for the needs of their loved ones.  Estate Planning Issues to […]

Posted in Business Law, Estate Planning

4 Common Mistakes People Make During the Estate Planning Process

Posted on February 8, 2022

naperville estate planning lawyer

It is important for a person and family to plan for the future. By creating an estate plan, a person can not only make decisions about how ownership of their assets will be handled after their death, but they can also ensure that they and their loved ones will have the necessary financial resources and that other needs will be met throughout their lifetime. However, it is also important to follow the correct procedures during the estate planning process. There are a variety of mistakes that people commonly make that […]

Posted in Estate Planning

Do You Need A Living Will?

Posted on January 27, 2022

naperville estate planning lawyer

There is much more to modern estate planning than deciding who gets your belongings when you are gone. In fact, there are two major parts of a comprehensive estate plan – testamentary planning, and what is called “incapacity planning.” Incapacity planning is extremely important, and no estate plan is complete without it. While a will allows you to make decisions about what happens to your property after you die, a living will allows you to make decisions about yourself in the event that you are still alive, but have become […]

Posted in Estate Planning

Who Should You Leave Assets To?

Posted on January 20, 2022

naperville estate planning lawyer

Deciding who to leave your estate to can be a highly personal decision. For some people, the choice is easy and they want their immediate family members to take everything. Others, especially those without biological heirs, may consider charitable giving or other options for all or part of their estate property. Whoever you leave your assets to, it is important that you talk to them first and make sure that they are also on board with your plan. Especially if you own assets that require care and maintenance, such as […]

Posted in Estate Planning

Getting Divorced? Remember to Update Your Estate Plan

Posted on January 13, 2022

naperville estate planning lawyer

When you are going through a divorce, you probably have a lot on your plate. Whether your divorce is relatively simple and amicable or complex and high-conflict, many things are going to change. After your marital property is divided equitably, your estate plan is likely to look much different. Assets that were jointly owned may now be only in your name, or only in your ex-spouse’s name. You will probably need to make some changes to your will, trust, or life insurance documents if your former spouse was named as […]

Posted in Estate Planning

Single, No Children? You Still Need an Estate Plan

Posted on January 6, 2022

naperville estate planning lawyer

Many people believe that if you are single and do not have any children, you do not need an estate plan. This could not be farther from the truth. Even without children or a spouse, there are probably still people in your life that you want to look out for, or maybe even a favorite charity you would like your estate to benefit. Estate planning also includes enabling your loved ones to help you in the event that you get sick or hurt and cannot make decisions for yourself through […]

Posted in Estate Planning

Why You Need Powers of Attorney

Posted on December 28, 2021

naperville estate planning lawyer

If you are not sure whether you need powers of attorney, you probably do. Powers of attorney are a way that you can take control of your medical care in the event that you cannot make decisions for yourself. The pandemic has served as a reminder to many that life is unpredictable and we never know what is going to happen. Unexpected accidents or illnesses can take families by surprise. Powers of attorney allow you to plan for this possibility. Using these legal tools, you can appoint someone you trust […]

Posted in Estate Planning

How Trusts Work and Who Needs Them

Posted on December 22, 2021

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  Trusts are often not well understood. A lot of people think that you need to be very wealthy to benefit from a trust, but this is not the case. In fact, most people could benefit from using a trust as part of their estate plan. There are many different types of trusts that each serve a unique purpose. While trusts are often used as a will alternative, others can be used to benefit you during your lifetime. The good thing about trusts is that they are very flexible, so […]

Posted in Estate Planning

Are You Prepared For The New Changes Coming To Tax Law?

Posted on December 9, 2021

naperville business lawyer

Tax law can change rapidly depending on the economic and political climate. Whether you are a business owner, have high-value property, or are creating an estate plan, it is important to stay up to date on how evolving tax laws will affect you. Navigating tax law can be complicated – especially when there are major changes taking place. Having a good understanding of the upcoming changes to the tax code can help you employ the right strategies to minimize your tax burden while staying compliant.  What Upcoming Tax Law Changes […]

Posted in Estate Planning

What Can I Do If My Family Member Died Without a Will?

Posted on November 18, 2021

naperville estate planning lawyer

Losing a loved one is difficult no matter what. When you are grieving, perhaps the last thing you want to deal with is the whole legal process of handling your family member’s estate. If there is a valid will, you would file it with the probate court to start the probate process. However, not everyone has a will in place. Maybe your relative never made a will in the first place, or he tried to make a will but you find out after his death that the will is invalid. […]

Posted in Estate Planning

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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.

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