Creating a well thought out estate plan is one of the best gifts you can give to yourself and to your loved ones. If you are new to estate planning, however, it is easy to make a mistake. In an effort to prevent you from making one of those mistakes, the Lincolnshire estate planning attorneys at Hedeker Law. Ltd. discuss the top estate planning mistakes. Waiting Too Long to Start Planning One of the biggest misconceptions when it comes to the need for estate planning is the idea that you need to reach a certain point in your life or [Read more…] The post Top Estate Planning Mistakes appeared first on Hedeker Law.
For most people, the primary goal of an estate plan is to ensure that their assets are passed down to help provide for loved ones upon their death. For those assets to be available to be passed down, however, they must also be protected over the course of your lifetime from a wide variety of threats. In fact, asset protection tools and strategies should be a routine part of any well thought out estate plan. The asset protection lawyers at Hedeker Law, Ltd. explain how you can use an irrevocable living trust to protect the assets that make up your [Read more…] The post How to Use an Irrevocable Living Trust to Protect Assets appeared first on Hedeker Law.
When you create your initial estate plan the focus will likely be on the distribution of your estate assets in the event of your unexpected death. As you mature, and your assets grow, you will likely want to add additional components to your estate plan to reflect the changes in your life and priorities. For example, if you now have a moderate to large estate, you need to start thinking about protecting your estate assets from a variety of potential threats. After all, if you fail to protect your estate assets during your lifetime there won’t be any left to [Read more…] The post How to Use an Irrevocable Living Trust to Protect Assets appeared first on Hedeker Law.
When a family member, or close loved one, passes away, the grieving process that follows often overwhelms the survivors. Focusing on even the most mundane of tasks can be difficult in the wake of a loss. If you were appointed as the Executor of the estate by the decedent, however, you must find a way to focus on the duties and responsibilities involved in probating the estate. To help prevent costly mistakes, the Lincolnshire probate attorneys at Hedeker Law Ltd. point out several common probate obstacles to avoid. Understanding the Probate Process Most people leave behind an estate when they [Read more…] The post Probate Obstacles to Avoid appeared first on Hedeker Law.
Dealing with the loss of a family member or close loved one is never easy. If you were also notified that the decedent appointed you as the Executor of the estate, you are probably trying to handle both the grief that comes with losing a loved one and the pressure that comes with serving as an Executor. One way to make your life easier, and to ensure that you don’t make a costly mistake, is to hire a probate attorney to help you. Probate attorneys understand the numerous and varied duties and responsibilities of an Executor. Consider the following five [Read more…] The post 5 Reasons to Hire a Probate Attorney If You Are the Executor appeared first on Hedeker Law.
For many people, becoming a grandparent is one of the single most exciting, and joyful, moments of their life. Becoming a grandparent also yet another opportunity to influence the life of a child with the advantage of having previous experience. If you are a grandparent who dotes on the grandkids, the odds are good that you will also want to include your grandchildren as beneficiaries in your estate plan. When it comes to gifting to your grandchildren, you may wish to consider the following tips from the Waukegan estate planning attorneys at Hedeker Law, Ltd.: • Gift while you are [Read more…] The post Tips for Gifting to Grandchildren appeared first on Hedeker Law.
For most people, a Last Will and Testament is the first estate planning document they create. That Will may continue to serve as the foundation of their estate plan in the years to come, or it may be replaced as the foundation document by a trust agreement. For some people, a simple Will by itself is sufficient; however, most people find that they need more than just a simple Will at some point. How do you know when you have reached the point where a simple Will is no longer enough? The Lincolnshire estate planning lawyers at Hedeker Law, Ltd., [Read more…] The post How Do I Know If I Need More than a Simple Will? appeared first on Hedeker Law.