Estate Planning

In many cases, people who are setting up a trust will do so with a set of written directions and instructions. This creates a very specific way that the money in the trust can be used. For example, you may be hoping that your heir will go to college, so you set the...

Picture this. You just received news that a distant relative has died and left millions of dollars in your name. On the one hand, you might be excited since you’re now wealthy. But on the other hand, you might worry that other people will find out about it and pester...

It’s very common for people to owe taxes after they pass away. You may have had an income that year that you still have to pay taxes on when the year comes to a close, for instance. You may also have to deal with things like property taxes on your house or a vacation...

One of the biggest estate planning mistakes that someone can make is not having an estate plan at all. This can lead to a huge legal battle that can be expensive and time-consuming. Instead of leaving everything for your loved ones to figure out, you should take the...

In the 21st century, most Americans spend significant periods of time using digital technology. We have incorporated it into our work and personal lives. This means that you may have valuable digital assets that need your protection. You know estate planning allows...

An important goal for many Illinoisans as they develop their estate plan is preserving as much of their wealth as possible for future generations. That means minimizing or eliminating estate taxes. Federal estate taxes are levied on the amount of an estate that...

Estate planning can bring numerous benefits to family members. It can ensure that those who you treasure most live in financial security should something happen to you. You can also make plans for your children in terms of who will look after them. Despite the...

When we hear the term “trust fund,” many of us imagine an ultra-rich kid with a silver spoon in their mouth. While itʻs true that a trust fund can be an attractive investment option for super-wealthy families, it doesnʻt tell the whole story. Trusts offer many...

If you pass on while your child is a minor, it is natural that the surviving parent will assume the child’s parental responsibilities. However, if they are not around, or if they lack parental responsibility, then the court may appoint a guardian for your child. A...

You might be upset if your kids ask you about your estate plan. You might feel they are jumping the gun or that it is none of their business. Yet, if they try to have a conversation with you about it, you probably should view it as them acting responsibly. An estate...