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Many residents of Illinois are on their second or third marriage and have blended families. This makes estate planning crucial. Here are some steps you should take when preparing these documents with a blended family. Make changes to your will One of the first things...
One of the most important conversations you can have with your children in Illinois is about your estate plan. This can be a difficult conversation, but it's one that is crucial to have. By discussing your estate plan with your children, you ensure that they know what...
No one really wants to think about what will happen when they die. But as you get older, planning for that event becomes even more important. Estate planning is the process of getting all of your assets and belongings in order before you pass. This process involves...
After a testator passes away, opening an estate follows not long after. Beneficiaries will typically want to know what is in the will and what assets go to them. Creditors may want to receive payment from the estate. Someone has to handle these various...
Every adult in Illinois should have an estate plan. That's true even for young people who don't own much. It's doubly true for new parents. In fact, any time there's a change in your family, whether that means marriage, divorce or birth, you should revise your estate...
Estate planning often involves strategies to make things easier for heirs. Parents might list their children on accounts as a way of avoiding probate. Another probate-avoidance plan could entail transferring the ownership of a house to adult children rather than...
Estate planning is not only for wealthy people; anyone who leaves assets behind after passing away has an estate. There may also be issues related to debts and obligations that heirs in Illinois must address. Spending time with an attorney to effectively plan out a...
Estate planning in Illinois isn't something that you do once: You need to do it multiple times in your life to make sure that your estate is up to date in case the unthinkable happens. If you recently moved to Illinois from another state, is that a major life event...
The term “probate” may not be one you’re familiar with, especially if you’re new to thinking about estate planning. Most people do not have a reason to think about probate until a loved one dies or they begin to think about their plans for their own future. However,...
Many people focus their estate planning efforts on what will happen after their death, but this focus can leave their plan incomplete. If illness or injuries leave you unable to manage your own affairs, powers of attorney could be key to protecting your financial...
