Probate courts oversee settling estates when people die, as well as naming guardians for those unable to care for themselves. Most people experience probate when a loved one dies and their estate is settled through the probate process. An uncomplicated probate case takes about a year to conclude, but those settling modest estates can petition…
Probate is the legal process to settle an estate after the owner dies. All estates worth $100,000 or more are probated unless accounts meet certain standards or everything belonging to the owner is covered by a trust. Through the probate process, a person’s property is accounted for and distributed to their heirs. It is a…
Trusts are estate planning tools that are used in place of or in addition to wills, for legal and financial reasons. Trusts preserve a person’s (the grantor’s) assets for their heirs or beneficiaries. These accounts are classified as revocable or irrevocable. Revocable trusts can also be converted to irrevocable. It’s not unusual for people to…
Wills and living trusts are not mutually exclusive, nor does one override the other – if they are created to work together. If you’ve spent your life working hard, you want assurance that your family members will enjoy that legacy by inheriting your estate. Making that happen is the job of an estate planning attorney. …
When you’re creating an estate plan, finding ways to reduce the hassle your loved ones experience upon your death and securing your legacy can be tough. But using revocable and irrevocable trusts can help you take control of their inheritance and your final wishes for your assets. While your Illinois estate planning attorney can help…
When you create an estate plan, what’s your main goal? If you’re like most people, it’s to protect your loved ones and to provide a lasting legacy after you pass away. But the probate process can eat into the inheritance that your loved ones receive and may keep your loved ones from inheriting the property…
Creating an estate plan is one of the best ways to preserve your interests and keep your loved ones’ well-being in mind. But it can involve far more than just writing a will or choosing a power of attorney. You want to account for your full estate and find ways to make inheriting your estate…
You worked hard to acquire the assets you have. That’s why it’s completely understandable that you’d want to leave certain assets to certain people, and to outline your final wishes so your loved ones can honor your memory in an appropriate way. For most people, this means creating a comprehensive estate plan, including a will….
Establishing a trust can be one of the best ways to protect your assets and ensure that the people you want to leave your property to receive the items you want them to. You’re able to clearly outline who receives what as long as the items they’re inheriting are placed in the trust. Unfortunately, not…
When you’re looking for a way to take care of your loved ones when you pass away, creating an estate plan is an absolute must. And for many people, establishing a trust can help them more effectively care for their beneficiaries and reduce the risk of costly probate processes eating into the inheritances they want…
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