Demetrius J. Karos, Ltd. Tax Representation From A Former IRS Employee

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Estate Planning Archives

Trusts basics and how they help with an estate plan

Trusts can be an effective estate planning tool that is oftentimes not well understood. Trusts can aid with the management of property during life and can also be useful tools to supplement a will or even replace a will in some circumstances. Trusts can be used to manage property by transferring the benefits and the obligations of the property to other parties.

What should be included in an effective estate plan

Having an effective estate plan, which includes the necessary estate planning documents, is important for the estate planner, their family members and the protection of the estate planner's assets. In addition, an effective and well-prepared estate plan is also useful to help minimize conflicts down the road between the estate planner's family members and can help keep the peace during an emotional and stressful time period.

Why you need an estate plan

It is a common misconception that only the very wealthy or the elderly should have an estate plan. In fact, every adult Illinois resident regardless of their age or the status of their bank account should have several important estate planning tools in place in the event that unexpected life changes occur. This post will discuss some of those documents and how together they can create an effective estate plan.

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