Tag: Naperville estate planning attorneys
Top Illinois Estate Planning Questions Answered
Posted on June 22, 2021
Did you know that only 40 percent of Americans have a will? Even fewer have a comprehensive estate plan. A surprisingly large percentage of adults simply avoid estate planning or put it off until it is too late. Estate planning is important for anyone, but it absolutely crucial for those with high-value or complex estates. Read on to learn answers to some of the most common estate planning questions. At What Age Should I Start Building an Estate Plan? Many people wonder, “Am I old enough to write a will, […]
A Well-Designed Estate Plan Can Help You Avoid Probate
Posted on May 6, 2021
Proper estate planning is key to ensuring that your assets are distributed according to your wishes. You have worked hard to earn the property you own and you deserve to choose how that property is allocated after your death. Numerous estate planning tools can help you accomplish your goals and provide for your family’s future. The type of estate planning instruments that you utilize depends on your unique needs and objectives. For many, a key goal is avoiding the probate process. What is Probate and Why Would I Want to […]
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 […]
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 […]
Talking to Your Family About Your Estate Plan
Posted on December 14, 2020
In my practice as an estate planning lawyer, I meet with clients almost every day who are at least a little bit intimidated by the process. For many, it is not the logistics that bother them; it is the difficult subject matter. It can be quite uncomfortable to face the reality that we will not live forever and just as difficult to talk about money and property concerns that extend beyond our lifetime. As challenging as it may be to have these conversations with a stranger—albeit an estate planning professional—it […]
Consider Charitable Donations in Your Estate Plan
Posted on December 7, 2020
For many people, the day after Thanksgiving marks the beginning of the winter holiday shopping season, and in most years, retail outlets attempt to lure customers by offering great “Black Friday” deals. “Small Business Saturday”—an event created by American Express—immediately follows Black Friday, and it is a day for shoppers to focus their spending on family-owned stores instead of major chains and big-box stores. “Cyber Monday”—a day dedicated to online shopping deals—is two days after Small Business Saturday. After more than a full weekend of consumerism, the day after Cyber […]
Why Estate Planning Is Especially Important for Snowbirds
Posted on November 12, 2020
As a resident of Northern Illinois, I am all too familiar with the harsh weather we often experience during the winter. In fact, I know many people—many of them retirees—who maintain a separate home in a warmer climate to be used during the coldest months of the year. Affectionately known as a “snowbirds,” those who literally “go south for the winter” are like most people when it comes to estate planning. They should absolutely take steps to protect their assets and their loved ones, and they must adhere to applicable […]
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 […]
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