Estate Planning

When you start the process of comprehensive estate planning, keep in mind that there are implications for family members in states other than Illinois.  The estate planning attorney you work with should be aware of this situation so specific action is taken. A qualified estate planning attorney will certainly ask about your heirs, including their…

Illinois residents who have a family, own property, or inherited a sum of money should look into estate planning regardless of their age. The process starts with finding a good, local estate attorney who is responsive to questions and requests. The best estate attorney in Naperville is experienced, a good communicator, and works efficiently. References…

Estate plans are never static, and recent changes in federal tax laws should prompt a review of your long-term planning. Staying abreast of the shifting rules affects how much you are taxed, whether you gift assets, and your approach to your financial legacy. Having an experienced estate attorney who can help you determine the best…

Divorce is a milestone that requires recalibration of many things, particularly your finances. Whether you’re already divorced or planning to be, adjusting your estate plan should be top of mind. An experienced estate planning attorney can guide you through the process of correcting important documents so they reflect your current situation. Your attorney will ensure…

A vacation home or investment property is wonderful to have but add layers of complexity to estate planning. There are several scenarios (like type of ownership) that demand specific estate planning tools. Following the advice of an experienced estate planning attorneys, particularly one familiar with the Illinois Probate Act, ensures that the estate plan developed…

When a family member dies, ownership of their property should transfer to next of kin. Unfortunately, if the person dies without a will, state law determines who gets the property, through the probate court. With a little planning, individuals and family members can plan to avoid the probate process so that property is inherited without…

Marriage and other major milestones in life should trigger emotion—joy or sorrow—as well as reckoning. They are events that estate planning professionals hope people recognize as prompts to reevaluate and document their end of life plans. It’s never too early to make an appointment with a professional estate planning attorney to discuss your assets, heirs,…

Blended families are those in which one or both partners have children from prior relationships. When these families merge—often sharing households—they are considered “blended.” Statistics show that about 16 percent of children in the U.S. are living in blended family situations with stepparents, stepsiblings, or half-siblings. Nearly 40 percent of marriages include one person who…

Planning for the disposition of your assets should be comprehensive, including your personal and business assets. Failing to plan for the succession of your business can turn into a complicated task for your family members, who may not have the hands-on skills or knowledge to avoid debilitating tax bills, forced liquidation, or management chaos.  With…

Your family home is likely the site of many happy memories that become more poignant as you age. As wonderful as it is to have a secure place that you enjoy, it’s an asset that must be included in your end of life plans. Passing the home along to a family member or heir takes…