Updates, News and Reminders

Probate: A grueling, neverending process that tears families apart. When someone passes away, there are numerous different things that the family has to deal with. If the deceased only had a Will when they passed, their entire estate would have to go through probate, which means that the Will must be proven in a court … Continue reading Avoiding Probate

Securing your legacy and protecting loved ones begins with strategic estate planning. In Illinois, as in many states, specific laws and regulations govern the distribution of the deceased’s estate. Whether you have a complex portfolio or a simpler set of assets, understanding these legal nuances is essential to ensure your assets are managed and distributed … Continue reading Protecting Your Assets: What Are the 5 Components of Estate Planning?

When it comes to estate planning, there are several myths. And not knowing fact from myth can be very costly.

Joint Tenancy – it is quick, convenient, and tempting. It used to be called “The Poor Man’s Will.” And it is fraught with potential disaster. Consequently, aside from marital funds, you should be very cautious of ever using it to title assets.

If you move your legal residence, must you change your estate plan?

Americans move an average of 12 times in their lifetimes and as frequently as once every five years. Does your estate plan move with you?

As with all legal issues, the answer to that question is unnecessarily complicated.

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.

Are you ready? Letting go of the kids is hard. If you are packing up the kids or grandkids for a year away at college or thinking about your own plans, health care is never far from your thoughts. 

A quitclaim deed doesn’t even ensure that the person has the legal right to sell or transfer the property. Consequently, a quitclaim deed is the least safe form of title transfer, while a warranty deed is the safest

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.

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.