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The Importance of Your Financial Agent

March 20, 2023      by: tlaw

The Illinois Power of Attorney Act provides, in part, that every individual has the right to appoint an agent to make property, financial, personal, and health care decisions for that individual.

Legal Capacity Consequences

January 22, 2023      by: tlaw

The American Bar Association defines ‘legal capacity’ as “the ability to perform a task – or make a decision. State laws set out the standards of legal capacity for various tasks – consent to treatment, make a Will, Trust or Deed, and make a gift or contract.

Staying Secure from Cybercrime in 2023

December 20, 2022      by: tlaw

Cybercrime activity targeting computers, computer networks, or a networked device inflicted over $6 billion in damage in 2022.

Gun transfer on death or disability

Firearm Transfers Following Death or Disability

September 18, 2022      by: tlaw

Firearm ownership transfers upon disability or death are covered in the Illinois Trust Code. With the statute, firearm ownership upon disability is fraught with potential issues.

Joint Tenancy

POD and TOD Account Disadvantages

September 18, 2022      by: tlaw

What are POD and TODs? They are an increasingly popular method of providing for the distribution of financial accounts at your death. They are helpful in certain situations; however, there are critical limitations and risks associated with using them.

Image of a gun that can e owned by Gun Trustby joshlsnader from Pixabay

Is a Gun Trust Necessary?

September 18, 2022      by: tlaw

Firearm ownership transfers upon disability or death are covered in the Illinois Trust Code. With the statute, firearm ownership upon disability is fraught with potential issues.

alt="Summer and Travel disaster protections"

Disaster Protection this Summer

July 29, 2022      by: tlaw

Disaster intrudes into our lives without any warning in most instances. Therefore, being prepared and protecting yourself and your family is critical.

alt="Guardianship of older person"

Your Guardianship Risk

June 17, 2022      by: tlaw

The reality is that every one of us is at risk of becoming a ward of the state – under order and control of the court system.

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Your Summer Checklist

May 21, 2022      by: tlaw

A checklist helps to ensure there are no gaps in your health care, financial, insurance, or estate plan documents.

Living Trusts are Essential

March 10, 2022      by: tlaw

“Our Living Trusts experience with Tom Tuohy was five stars; from the moment that we walked into his office and met his staff, and then talked to Tom, it felt like we were with friends. My wife and I have been wanting to get our estate planning done for many years, and we were happy … Continue reading Living Trusts are Essential