When you think about estate planning, you likely focus on ensuring that the distribution of your estate assets after you are gone occurs according to your wishes. A well thought out estate plan, however, can do much more. For example, have you given any thought to the legal process that your estate will have to go through after your death? This process, known as “probate” can be time-consuming and expensive. The good news is that your estate may be able to avoid probate with careful estate planning. What Is Probate? Most people leave behind an estate when they die. That [Read more…] The post Can My Estate Avoid Probate? appeared first on Hedeker Law.
When you contemplate the need for estate planning, you probably think in terms of planning for the distribution of estate assets after your death. Creating a roadmap which can be used to pass down your assets is certainly an important part of estate planning; however, a well thought out and comprehensive estate plan should accomplish much more than just deciding how your assets will be distributed. One important addition to a comprehensive estate plan is incapacity planning. The Lincolnshire living trust lawyers at Hedeker Law, Ltd. explain how incapacity planning fits into your estate plan. You Don’t Have to Be [Read more…] The post How Lincolnshire Living Trust Lawyers Can Help with Incapacity Planning appeared first on Hedeker Law.
Planning for the future takes on a heightened importance if you are the parent of a child with special needs. As a parent, you undoubtedly want to provide for your child, both while you are here and after you are gone. Doing so, however, takes careful planning when your child has special needs because consideration must be given to your child’s continued eligibility for state and federal assistance programs. The key to ensuring that your child will benefit from both your assets and the assistance of programs such as Medicaid and Supplemental Security Insurance (SSI) is to work with a [Read more…] The post How Can a Special Needs Planning Lawyer Help Me? appeared first on Hedeker Law.
One of the most popular, and versatile, estate planning tools is a trust. A trust can help you achieve numerous estate planning goals, including asset protection, incapacity planning, probate avoidance, and long-term care planning, among others. No matter which type of trust you choose to include in your estate plan, you will need to appoint someone as the Trustee to administer the trust. Because your choice of Trustee will greatly contribute to the success, or failure, of your trust, you may find the following advice on choosing the right Trustee for your Waukegan trust administration helpful. What Is Involved in [Read more…] The post How to Choose the Right Trustee for Your Waukegan Trust Administration appeared first on Hedeker Law.
If you have a Last Will and Testament in place, you undoubtedly executed your Will as a way to ensure that your wishes with regard to the disposition of your estate assets would be honored after you are gone. Unfortunately, even a flawlessly drafted and properly executed Will cannot ensure that loved ones won’t challenge your Will. There are, however, some steps you can take to decrease the likelihood of litigation during the probate of your estate. Including a no contest clause in your Will is a simple, yet often effective, option. The probate attorneys at Hedeker Law, Ltd. explain [Read more…] The post Probate Attorneys Explain a No Contest Clause appeared first on Hedeker Law.
Although every estate plan is as unique as the person who creates the plan, there are some estate planning tools and strategies that are commonly found in an estate plan. A trust is at the top of that list. Although once used almost exclusively by very wealthy families as a way to pass down the family fortune without paying taxes on the transfer, both the law and trusts have evolved over time to the point where the average person can benefit from including a trust in his/her estate plan. One specific type of trust, a life insurance trust, can be [Read more…] The post Lincolnshire Estate Planning Lawyers Explain How a Life Insurance Trust Can Help appeared first on Hedeker Law.
If you are the parent of a child with special needs you are undoubtedly familiar with both the unguarded joy they bring to a family as well as the struggles they frequently face trying to figure out where they fit in with their peers. High school can be particularly difficult for a child with special needs when physical and/or mental disabilities prevent them from taking part in common teenage rights of passage. Prom night used to be a perfect example; however, thanks to the efforts of the Tim Tebow Foundation, along with thousands of volunteers, teenagers (14 and older) with [Read more…] The post Children with Special Needs Sparkled at the 4th Annual “Night to Shine” Prom appeared first on Hedeker Law.