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...
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estate planning
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...
When should people update their wills?
Plans can change throughout people’s lives as circumstances change. When people are forced to change different aspects of their lives, it can affect more than just the specific part of their life where the change in circumstances occurred. People need to take time to...
Are retirement accounts probated?
If you're trying to get your financial affairs in order, it's important to know which accounts can be probated. Your retirement accounts can go into probate after you pass away. However, if you choose the right beneficiaries during the estate planning process, you can...
Estate planning for young adults
Many younger people think that estate planning is only for the very wealthy or the very old, and so they put it off. Many of these people continue to put it off for years simply because they don't want to think about all that estate planning implies. This kind of...
Know how to estate plan in a blended family
Living in a blended family can be enormously rewarding, but it can also have its challenges. Amongst those challenges are those pertaining to estate planning. While a lot of people choose to forego estate planning because they think that they don’t enough assets to...
Why would I consider a spendthrift trust?
Many people in Will County and Kankakee County want to leave their fortunes to their loved ones despite their faults. Realistically, though, they may be worried that a loved one may receive an inheritance only to have it taken by their creditors. In other cases, the...