There are a lot of options when creating an estate plan. While that means that you have the flexibility to create the estate plan that’s right for you, your estate, and your heirs and beneficiaries, some people find the menu of options overwhelming. As a result, some...
estate planning
Is your spouse a good choice of agent in your POA?
When you are planning your estate, you will likely choose someone to serve as agent in your power of attorney. The natural choice may seem to be your spouse. But there are some reasons why you may want to choose someone other than your spouse to serve as your agent...
Who receives your property if you die without a will?
People in Illinois have different types of property and have money in various types of accounts. They can use their property and money how they wish while they are living, but they cannot take it with them when they pass away. If people want to be able to control who...
Should I gift my things before bankruptcy?
There is a persistent myth that bankruptcy filers have to sell everything they own. As such, once a person reaches the conclusion that they will likely need to file bankruptcy, they think it is time to start gifting their stuff away. This is because of the mistaken...
Revocable or irrevocable trusts: Which should you choose?
For those who are not familiar with the subject, estate planning can feel overwhelming. It can be difficult to understand trusts, in particular, as these tools come in so many forms. You may not know what type of trust you want, and so you don't know where to begin....
What is the impact of divorce upon your will?
When you go through a divorce, it’s understandable that estate planning won’t be your top priority. But when the time comes, it’s important to turn your attention to your will, because the divorce can have an impact on what you have previously executed Revocation upon...
The importance of a power of attorney
When we think of estate planning, it is usually with the idea of leaving our worldly goods to loved ones after we are gone. For this reason, most people in Illinois or elsewhere who are in the process of getting their estate in order will create a will or trust to...
Many people lack an estate plan. Here’s what to include in one
Do you have an estate plan? If you are like many Americans, the answer is “no.” This is unfortunate, as a comprehensive estate plan can help ensure that your end-of-life wishes are documented and honored. Survey shows many lack an estate plan A recent survey from...
What documents should I include in an incapacity plan?
Estate plans aren’t just oriented around what will happen after you are gone. One of the important parts of any Illinois estate plan is a plan for incapacity. This can be invaluable for your family in the event that you ever become incapable of making important...
The dos and don’ts of estate planning
In this age of technology, there are a few different ways that you can create a last will and testament so that your assets are handed down to the people you want to receive them. That includes your property, guardianship, and debts. Without a will, you will not have...