Tag: estate planning
Beneficiaries and Executors: Important Rights and Responsibilities
Posted on April 29, 2021
The process of estate planning allows us to make essential decisions about how our property is passed to beneficiaries. Beneficiaries have certain rights and responsibilities by law, as do those who have been given fiduciary responsibilities. Whether you are drafting a will, or you have been named as a beneficiary or executor in someone else’s will, it is important to understand exactly what these roles entail. In most cases, the creator, beneficiaries, and fiduciaries of an estate plan can benefit from consulting with a skilled estate planning attorney. Choosing Your […]
Comprehensive Estate Plans Include More Than Wills
Posted on April 15, 2021
For many people, the term “estate plan” is assumed to be synonymous with “will.” However, a last will and testament is only one element of a comprehensive estate plan. A will can accomplish several important purposes; however, wills are also bound by certain limitations. When building your estate plan, it is important to consider other estate planning tools such as a living will, trust, and power of attorney. With this in mind, our firm offers a variety of estate planning packages that can be customized to meet your particular needs. […]
Charitable Giving in Your Estate Plan Can Add to Your Legacy
Posted on March 18, 2021
When you think about the idea of estate planning, it is reasonable to primarily consider the variety of documents and tools that you will need to pass your assets and property on to your children—and possibly your grandchildren. The transfer of assets to future generations is, of course, an important goal of the estate planning process, but there other things to consider as well. For example, you might also wish to think about the legacy that you will leave behind. One of the most common ways for you to cement […]
Complex Estates and the Dangers of DIY Estate Planning
Posted on March 11, 2021
For more than 240 years, America has enjoyed a reputation as a nation of independent people who are willing and able to do things themselves. Bookstores and the internet are full of resources for those with a do-it-yourself attitude, as books and YouTube videos can show anyone how to do just about anything with the right tools. From auto repairs to home improvements to the basics of French cuisine, you can fairly easily find a way to get the job done. With just a few clicks of your mouse, for […]
The Dangers of Failing to Plan: Caregiving Misunderstandings
Posted on February 25, 2021
If you are like the vast majority of people, when you see or hear the words “estate planning,” you are likely to think about wills, trusts, and other formal instruments that are commonly used to transfer property from one generation to the next. While it is certainly true that the transfer and protection of assets are major components of any estate plan, there are several other elements that address quality of life concerns as a person ages. As an estate planning attorney, I realize that many important topics like these […]
Three Important Reasons You Need an Up-to-Date Estate Plan
Posted on February 4, 2021
For far too many people, estate planning is something they will take care of later, which is a nice way of saying that it is not very important right now. Unfortunately, “later” becomes “never” in a large number of situations, leaving family members and loved ones to make important decisions during a time already complicated by grief. In my practice as an estate planning attorney, I have witnessed first-hand the reluctance to address the future. I have also seen such hesitancy evolve into peace of mind as my clients put […]
What to Do When Your Spouse Refuses to Participate in Estate Planning
Posted on January 29, 2021
In my practice as an estate planning attorney, I have helped many married couples create wills, trusts, and other estate planning instruments designed to offer long-term security and peace of mind. On occasion, however, I am approached by individuals who recognize the importance of estate planning but who cannot get their spouses to participate in the planning process. If this describes your situation, keep in mind that begging, nagging, or threatening your spouse will probably not do much good. Instead, there are a number of things that you can do […]
Preparing for the Unexpected: Living Wills and Death-Delaying Procedures
Posted on January 14, 2021
The law in Illinois expressly recognizes the rights of its citizens to make their own decisions regarding the medical care they wish to receive, even after the diagnosis or acquisition of a terminal condition. According to the law, a person may choose to have death-delaying procedures withheld or withdrawn in accordance with his or her own personal desires, regardless of his or her ability to make such decisions in the moment. To address these types of concerns, many individuals will utilize a living will to formalize their wishes regarding death-delaying […]
Considerations When Selecting an Estate Planning Attorney
Posted on December 28, 2020
If something tragic were to happen to you tomorrow, do you have any idea what would happen to your assets and property? Would you children, grandchildren, or other would-be heirs appropriately receive the inheritance you intend for them? If you are not sure about the answer to questions to like these, chances are, you do not have a comprehensive estate plan. In my practice as an estate planning attorney, I have helped hundreds of clients draft wills, create trusts, and implement other planning tools necessary in preparing for the future. […]
5 Important Considerations for an End-of-the-Year Estate Plan Review
Posted on December 21, 2020
In addition to opening Christmas presents and toasting the new year, the end of the calendar year is also a time to review your estate plan and create a strategy for reaching your financial goals in 2021. This time of year is a good time to do an estate plan “check-up.” An up-to-date estate plan can ensure that your final wishes are clear, offer peace of mind that your family is taken care of after you have passed, and protect your rights and financial interests. When a person passes away […]
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