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Estate Plan Valid if You Move?

September 17, 2023      by: tlaw

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.

Gun transfer on death or disability

Firearm Transfers Following Death or Disability

August 29, 2023      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.

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Beware of the Quitclaim Deed

May 24, 2023      by: tlaw

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

alt="Tom Tuohy of Tuohy Law Offices at his desk"

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.

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="teenager walking on railing and Health Care Power of Attorney Protection"

Health Care Power of Attorney and Kids

February 14, 2022      by: tlaw

Is it necessary for your children to have a Health Care Power of Attorney document? The short answer is- Maybe

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A Chicago Cop, George Halas, and Prince

January 13, 2022      by: tlaw

What could those three people possibly have in common? Horrendous estate planning.

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Know Your Health Care Rights

December 15, 2021      by: tlaw

We have all experienced the health care system. Honestly, can you say you are looking forward to your next experience? Part of it is the uncertainty of what we will find out. However, most of our anxiety and frustration is about the feeling we are not in control. Well, you can be, and you have the right to be in total control of your health and your care.