Tag: estate planning
Report: Wealthy Americans Are Changing Their Estate Plans Over Concerns of Tax Increases
Posted on October 15, 2020
A few weeks ago, a post on this blog discussed former Vice President Joe Biden’s plans regarding the United States Tax Code if he were to be elected president in this year’s general election. Of course, with every new presidential administration comes certain changes to the nation’s tax policies. With this in mind, Mr. Biden’s campaign maintains that his policies would not raise taxes on anyone making less than $400,000 per year. But, what about those who make over $400,00 per year? In short, they stand to be the most […]
When Should I Consider Naming a New Executor?
Posted on August 31, 2020
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 your selection of an executor. Under Illinois, your executor is responsible for overseeing your estate and, ultimately, ensuring that your wishes are carried out regarding your property and assets. In my practice as an estate […]
Naperville Estate Planning Lawyer Discusses Special Considerations for Stepchildren and Step-Grandchildren
Posted on December 4, 2019
The modern American family comes in all different shapes and sizes. Furthermore, the people you consider family are not always decided by blood. For some stepparents and step-grandparents, there is no difference in how they see their biological children and the children who entered into the family through marriage. They want all of their children or grandchildren to receive an equal share of their estate. Other stepparents and step-grandparents do not get along as well with stepfamily members, or they have concerns about how their stepfamily members would spend any […]
Naperville Estate Planning Attorney Discusses Stepparents and Stepchildren
Posted on August 9, 2017
In many ways, the concept of estate planning is similar to that of healthy living. Most people are aware that both are good ideas, but it can be very difficult to even get started. Much like eating right and exercising, estate planning is one of those things that many people will do eventually. Unfortunately, some wait too long and never actually get around to it. As an estate planning lawyer, I know that the process of creating a will or trust is not as challenging as many fear it will […]
Naperville Estate Planning Lawyer Discusses Handwritten Wills
Posted on February 24, 2017
For most people, a last will and testament is one of the most important documents they will ever create. Your will is likely to contain provisions that dictate how your assets are to be divided among your chosen beneficiaries but may also include many other considerations. You can use your will to establish guardianships for your children and make arrangements for heirs who may not be capable of managing their own affairs. Your will is also likely to name an executor to manage your estate and to oversee the distribution […]
Attorney-Client Privilege During a Will Contest
Posted on March 26, 2015
Lately, I have been hearing a great deal of talk about a case currently before the Illinois Supreme Court. The high court recently heard oral arguments in a case called Brunton v. Kruger, which asks the court to consider the scope of the accountant-client privilege during probate. Specifically, the court must determine what happens to the privilege after the client dies and to what extend this privilege can be waived. Here are the basic facts of the case: An elderly couple hired an accounting firm to perform estate planning services. […]
How to Proceed in Probate When the Life Status of the “Decedent” is Unknown
Posted on April 29, 2014
Nine years after Samuel Zagaria disappeared, his sister Joanne petitioned the Cook County probate court for a presumption of death. The court complied and appointed Joanne, Zagaria’s only heir, the administrator of her brother’s estate. But in the course of administering the estate and trying to collect insurance benefits, Samuel turned up alive. Unfortunately for Samuel, that was not the end of the story. The physical fact of his existence did not immediately invalidate the legal presumption of death. Samuel had to ask the court to revoke the presumption and […]
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