Because of the numerous and varied estate planning goals a trust can help achieve, it is very common to see at least one trust agreement in the average estate plan. One thing that all trusts have in common is the need for a Trustee to administer the trust. The Trustee is appointed by the Settlor (the creator of the trust) at the time the trust is established. If you have been appointed the Trustee of a trust, and have never before served as a Trustee, you will soon find that a Trustee has a wide range of duties and responsibilities. [Read more…] The post Waukegan Trust Administration Attorneys Warn against Pitfalls appeared first on Hedeker Law.
Most people choose to execute a Last Will and Testament as the foundation for their estate plan. As they build on that plan they add additional estate planning tools and strategies to the plan. One of the most common additions to a comprehensive estate plan is a trust agreement. If you are the parent of a minor child, for example, you may wish to add a testamentary trust to your plan as a way to protect your minor child’s inheritance in the event something happens to you before your child reaches adulthood. If you do decide to include a testamentary [Read more…] The post Trust Administration and the Testamentary Trust appeared first on Hedeker Law.
Are you already saving money for your retirement? Are you disciplined with your savings and careful with how you invest those savings? Is all of that part of a larger plan to ensure that you have amassed a sufficient retirement nest egg to live comfortably during your “Golden Years?” If so, then you undoubtedly would not want something to threaten your plan, or more specifically your retirement nest egg. There may, however, be a fairly serious and potentially damaging threat to your retirement nest egg – and you may not even be aware of it. The Lincolnshire asset protection lawyers [Read more…] The post Lincolnshire Asset Protection Lawyers Explain How Nursing Home Costs Can Threaten Your Nest Egg appeared first on Hedeker Law.
For many people, one of the primary reasons for creating an estate plan is to ensure that the assets they spend a lifetime accumulating are distributed according to their wishes at the time of death. If that applies to you then there is something else you need to also consider in your estate plan – asset protection. Unless you protect the assets you own, there won’t be anything left to pass down to your intended beneficiaries at the end of your life. A trust can be an excellent asset protection tool if it’s the right type of trust. The asset [Read more…] The post Asset Protection Attorneys Explain Why the Type of Trust You Create Is Important appeared first on Hedeker Law.
Ideally, retirement planning is something everyone should start shortly after they enter the workforce to ensure that they will have the financial resources to live comfortably during their retirement years. If you are getting close to your retirement years at this point, you will need to make some fairly important decisions relating to your retirement plans. At the top of that list is deciding where to retire. Some people have their bags packed and the movers on standby months before their retirement date while others adamantly refuse to relocate when they retire. If you are considering relocation when you reach [Read more…] The post Where Should You Retire 2018 Rankings Show Best and Worst States appeared first on Hedeker Law.
When a loved one dies, a period of grieving and heightened emotions typically follows. There are also practical and legal steps as well, however, that follow a death. To begin with, the decedent’s Last Will and Testament must be submitted to the appropriate court as part of the probate process. What should you do, however, if you question the authenticity of the Will submitted for probate? The Waukegan estate planning lawyers at Hedeker Law, Ltd. explain how to contest a Will. What Is Probate? When an individual dies, the decedent’s estate is required to go through probate. If a Will [Read more…] The post Waukegan Estate Planning Lawyers Explain How to Contest a Will appeared first on Hedeker Law.
Like most people, you are probably aware of the need to have an estate plan in place that dictates how your estate assets are to be distributed in the event of your death. Hopefully, you also recognize the need to have an experienced estate planning attorney assist you in the creation of that plan. That may not be the only time you need an estate planning attorney though. On the contrary, consider the following five additional reasons why you might need estate planning lawyers at some point in your life. Petitioning for Guardianship At some point in your life, you [Read more…] The post 5 Reasons You Might Need Estate Planning Lawyers appeared first on Hedeker Law.