There is a very good chance that you will be directly involved with the probate of an estate at some point in your life. Your involvement might be the result of being appointed the Executor of the estate of a recently deceased loved one or because you volunteer to be the Personal Representative of a loved one who recently died intestate, or without a Will. You could also find yourself part of the probate of an estate because you are a beneficiary, heir, or creditor of the estate. If you find yourself involved in the probate of an estate, you [Read more…] The post Tips from a Probate Lawyer appeared first on Hedeker Law.
If you have an estate plan in place already, you are ahead of the curve in the United States. Surveys indicate that despite understanding how important estate planning is, over half of all Americans do not have a plan. While you deserve to pat yourself on the back for putting together your initial estate plan, do not make the mistake of thinking that you can forget about the issue of estate planning from here on out. On the contrary, your initial estate plan needs to be reviewed and revised throughout the course of your lifetime to ensure that it remains [Read more…] The post Lincolnville Estate Planning Attorneys Stress the Need to Review Your Plan appeared first on Hedeker Law.
Creating a comprehensive estate plan may involve the use of a wide variety of estate planning tools and strategies. One of the most popular of those tools is a trust. Creating a trust can help achieve numerous goals, including incapacity planning, asset protection, and protecting a minor’s inheritance. Although trusts can differ in many ways, one common denominator is the need to appoint a Trustee to oversee the administration of the trust. If you were recently informed that you are the Trustee of a trust, you may be feeling a bit intimidated by your new position if you are a [Read more…] The post Can a Trust Attorney Help Me with Trust Administration? appeared first on Hedeker Law.
Proper estate planning includes much more than just deciding how your estate assets will be distributed after your death. What additional components you include in your comprehensive estate plan will depend on your unique needs and goals. One common estate planning goal, however, is probate avoidance. A Vernon Hills probate lawyer explains why you might want your estate to avoid probate and offers some common probate avoidance strategies. What Is Probate? When you die, you will leave behind an estate that is made up of all the assets you owned at the time of your death. Probate is the legal [Read more…] The post Vernon Hills Probate Lawyer Explains Probate Avoidance Strategies appeared first on Hedeker Law.
Most people equate the concept of estate planning with creating a plan for the distribution of their estate assets after their death to ensure that loved ones are provided for in their absence. This is certainly understandable as that is one of the primary functions of the average estate plan. When you think about protecting and providing for your loved ones, however, your death is not the only reason to have a plan in place. What happens if you become incapacitated tomorrow? Do you have a plan in place that protects you and your loved ones for that potential scenario? [Read more…] The post Can Estate Planning Lawyers Help with Incapacity Planning? appeared first on Hedeker Law.
For some people, philanthropy is part of their everyday life. If you are one of those people, chances are good that you have several charitable causes that are important to you. If so, you may wish to include these charities in your estate plan. Including charitable beneficiaries in your estate plan can be done in several different ways. One of the most popular options is to create a charitable trust. To help you better understand your options, a Lincolnville living trust attorney explains charitable trusts and why they are often the tool of choice for charitable gifting. Your Comprehensive Estate [Read more…] The post Lincolnville Living Trust Attorney Explains Charitable Trusts appeared first on Hedeker Law.
For most people, one of the primary reasons they create an estate plan is to ensure that the State of Illinois does not get to decide what happens to their estate assets after their death. If that is one of your primary estate planning goals, you should consider the likelihood of someone contesting your Last Will and Testament and plan accordingly. If someone launches a successful Will contest, your efforts to determine the fate of your assets will be in vain and the State intestate succession laws will be used to distribute your estate. One of the grounds used to [Read more…] The post Vernon Hills Estate Planning Lawyers: Tips to Prevent Will Challenges Based on Capacity appeared first on Hedeker Law.