Illinois residents who want to make certain they are fully organized and that their loved ones are cared for after they have gone will take the necessary steps to have a comprehensive estate plan in place. While this is a good idea regardless of the circumstances,...
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Family disputes continue over late singer’s estate
One of the main reasons people in Illinois and across the nation formulate an estate plan is to avoid family disputes after they have gone. This is especially worrisome for those who have substantial assets, but it is a concern for anyone.An example of the problems...
What decisions can be made with a health care power of attorney?
In Illinois, a frequent concern for people who are crafting their estate plans and thinking about every possible eventuality is what they will do if they need another person to make health care decisions in their stead. This can be a difficult issue to come to grips...
Search of late singer’s home yields three holographic wills
Some individuals in Illinois might see news stories about relatives of famous or wealthy people engaged in an estate plan dispute, and they may think it does not apply to them. However, crafting estate planning documents is critical regardless of the circumstances. A...
Estate planning is not just for wealthy people
Although formulating an estate plan is becoming more common for Illinois residents, there is still a perception that only those who are of significant means need to have one. This is a mistake that can be costly in multiple ways. Not only does it hinder attempts to...
A complete estate plan can avoid family struggles after death
End of life planning is not an easy matter for Illinois residents to come to grips with. This is true for people at any age. However, failing to have a comprehensive estate plan can cause problems after death. Family disputes, legal battles and more can come about if...
People in all income and asset situations can use trusts
For those in Illinois who are preparing for the future by determining what kind of estate plan would be best-suited for them, it is often viewed as easier and more expedient to simply have a basic will. While in many cases, this is wise, there are other strategies...
Many older people do not take estate planning seriously
Crafting an estate plan is something all Illinois residents should do. While it is important for people of all ages, it is even more critical for those 55 and older. However, recent research indicates that those in this age range have not taken the necessary steps to...
IRS proposal tempers concerns about estate tax implications
Illinois residents who have significant assets and are drafting estate planning documents will have various concerns about how their loved ones will be taxed should understand various strategies to protect their wealth. This is where wise and proactive estate planning...
Do not ignore the importance of an estate plan in Illinois
For many Illinois residents, thinking about an estate plan is an unwanted acknowledgement that life is finite. It is not something they want to consider, let along act upon. However, failure to have even a basic estate plan is a mistake that will have far-reaching...