Tag: will

What Are the Options for Asset Protection in an Estate Plan?

Posted on September 14, 2023

An estate plan is a crucial tool that allows people to protect their assets and distribute their property according to their wishes after they pass away. However, when you create an estate plan, you will not just be concerned about distributing your assets. You will also want to take steps to protect your assets during your lifetime. Asset protection is an essential aspect of a comprehensive estate plan, especially especially for those who have complex estates. By working with an experienced attorney, you can take steps to safeguard your hard-earned […]

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Six Signs it is Time to Update Your Will

Posted on June 2, 2023

naperville estate planning lawyer

Your last will and testament is the foundation of your estate plan. Your will explains how your property should be distributed to beneficiaries, designates a guardian for minor children, and describes your final wishes. It can be thought of as an instruction manual in probate showing how you want your assets to be distributed.  Creating a will is essential. However, it is not a one-and-done task. Many different life changes and circumstances will necessitate an update of your will and other estate planning documents. In this blog, we will explain […]

Posted in Estate Planning

Unmarried? Make Sure You Understand How This Influences Inheritance Rights and Estate Planning

Posted on May 8, 2023

naperville estate planning lawyer

Did you know that less than half of adults in the United States are married? Over the past few decades, marriage rates have dropped significantly. Fewer and fewer people are choosing to get married, and living with a romantic partner to whom you are not married is becoming increasingly frequent. For many couples, waiting to say “I do” is the smart choice. Nobody should rush into a marriage unless they are truly ready to marry. That being said, unmarried couples should understand the risks involved in foregoing an official marriage […]

Posted in Estate Planning

Understanding Testamentary Capacity in the Context of Estate Planning

Posted on April 28, 2023

naperville estate planning lawyer

Anyone who signs a legal contract must do so of their own free will. An individual cannot be forced, manipulated, or tricked into signing a contract. These rules also apply to estate planning documents such as wills and trusts. Testamentary capacity refers to a person’s ability to create and agree to a valid will. An individual must be of sound mind to create a will that holds up against a will contest. Whether you are planning to create your will or you have concerns about the validity of a deceased […]

Posted in Estate Planning

Key Estate Planning Considerations for Anyone Getting Divorced

Posted on April 25, 2023

naperville estate planning lawyer

If you are in the middle of a divorce or thinking about ending your marriage, make sure you understand how to update your estate plans to reflect your new marital status. Divorce can be very overwhelming, and it is not uncommon for people to neglect crucial estate planning concerns during and after their divorce. Update Your Power of Attorney for Healthcare and Finances A power of attorney is a legal tool used to designate an individual who has the authority to make decisions on your behalf. A power of attorney […]

Posted in Estate Planning

Leaving Inheritance to a Caregiver? Make Sure You Know Illinois Law 

Posted on April 7, 2023

naperville estate planning lawyer

For elderly individuals and those in poor health, caregivers can be valuable sources of assistance, compassion, and support. Private nurses and other in-home healthcare workers assist with meals, hygiene, everyday tasks, and medical needs, providing crucial help to those in need. Understandably, many people come to think of paid caregivers as much more than just hired helpers—they become like family. If you are considering leaving assets to a caregiver through your will, make sure you understand how Illinois estate planning laws address these types of gifts. Illinois Law Regarding Inheritance […]

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Most Common Estate Planning Mistakes Everyone Should Avoid

Posted on March 9, 2023

naperville estate planning lawyer

Estate planning is important for individuals of all ages, races, income levels, and backgrounds. With a proper estate plan, you can ensure that your assets are distributed to beneficiaries in the way you want them to be. You can also use estate planning instruments to reduce estate taxes, avoid probate, donate to charitable causes, plan for incapacitation, set up financial support for a disabled loved one, and much more. Unfortunately, many people make costly mistakes when creating their estate plans. Here are some of the most common estate planning mistakes […]

Posted in Estate Planning

Do All Wills Go Through Probate? 

Posted on March 7, 2023

A last will and testament is generally considered to be the most fundamental element of an estate plan. With a will, you are given the chance to dictate how your worldly possessions are distributed to beneficiaries upon your death. Wills are also used to designate a guardian for minor children to take care of the children if the parents pass away. Unfortunately, there are many misunderstandings and misconceptions about how wills work. One question many people ask is, “Does my will have to go through probate?” Probate is a legal […]

Posted in Estate Planning

Take Care of Your Loved Ones with Proper Estate Planning

Posted on February 14, 2023

naperville estate planning lawyer

Whether it is family, friends, pets, or other loved ones, we all have people in our lives that we want to take care of. Proper estate planning is one of the best ways to do this. Estate planning not only allows you to ensure that your wishes are followed after your death, it also saves your loved ones a significant burden upon your passing. Benefits of Estate Planning Go Beyond the Financial Estate planning is often used to reduce taxes and other costs associated with transferring assets after death. However, […]

Posted in Estate Planning

At What Age Do You Need a Will? 

Posted on February 7, 2023

Naperville estate planning lawyer

No one likes to think about death, especially when you are young. However, it is important to make sure that your wishes for your estate will be honored if something happens to you at any age. Many people assume that only very wealthy individuals or those in their 60s or 70s need to create a will. However, there is no fixed age at which everyone needs a will. Whether you are single, childless, own little property, or are married with kids, proper estate planning is crucial. Why You Should Create […]

Posted in Estate Planning

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