The death of a loved one is typically followed by a period of grieving and an outpouring of emotions on the part of the family and close friends. By necessity, it is also followed by the legal process referred to as “probate” during which time the decedent’s estate is administered and estate assets are ultimately transferred to the new owners. Although probate can be full of bumps and minor obstacles along the way, it is normally a relatively uneventful process. Occasionally, however, the probate process can turn into a contentious legal battle as a result of a challenge to the [Read more…] The post Lincolnshire Probate Attorneys Explain What Happens When Someone Contests a Will? appeared first on Hedeker Law.
Though once thought of as only benefitting the wealthiest among us, trusts are now commonly used by the average person to accomplish a wide range of estate planning goals. In fact, you may find that you incorporate more than one trust into your comprehensive estate plan as your plan grows over the years. You may also find that you want to make changes, or modify, a trust that you created some time ago. You may be surprised to learn that modifying a trust is often easier than making changes to your Last Will and Testament; however, if the proper steps [Read more…] The post A Living Trust Attorney Explains How to Modify a Trust appeared first on Hedeker Law.
Most people start off their estate plan with fairly simple goals that can be accomplished using nothing more than a Last Will and Testament. That plan, however, will likely need to be reviewed and expanded upon as the family and the estate grow over the years. If you find yourself in a position where it is time to expand upon your basic estate plan, you may be considering the addition of a trust as part of that expansion. If you will be creating a trust for the first time, it is important for you to learn as much as possible [Read more…] The post Waukegan Trust Administration Attorneys Explain Trust Basics appeared first on Hedeker Law.
Inheritance planning, also referred to more broadly as “estate planning,” is something that everyone should engage in at some point. One of the biggest questions – and biggest misconceptions—relates to exactly when inheritance planning should start. In fact, among the most common mistakes people make is putting off the creation of an inheritance plan because they are under the (mistaken) impression that they do not need one yet. To help you avoid making the same mistake with your estate and your future, the estate planning attorneys at Hedeker Law, Ltd., explain when inheritance planning should begin for everyone. What Is [Read more…] The post When Should Inheritance Planning Start? appeared first on Hedeker Law.
Were you notified that a recently deceased loved one named you as the Executor of his or her estate? If so, you may be struggling to focus on the duties and responsibilities an Executor has during the probate of an estate giving the fact that you are undoubtedly also still grieving the loss of your loved one. If you have never served as an Executor before, you may not even know where to begin. To help you organize your responsibilities, the Lincolnshire estate planning lawyers at Hedeker Law, Ltd. have put together an Executor’s checklist that you may find beneficial. [Read more…] The post Lincolnshire Estate Planning Lawyers Offer an Executor s Checklist appeared first on Hedeker Law.
Surveys tell us that the vast majority of Americans understand the need for estate planning. Despite this, over half of all Americans do not have an estate plan in place. People offer a variety of explanations for their apparent procrastination, including the belief that they don’t need an estate plan yet and not have the time and/or money to devote to creating a plan. Sometimes, the best way to convince someone that they need to do something is to explain what happens if they don’t do it. With that in mind, the estate planning attorneys at Hedeker Law Ltd. explain [Read more…] The post Estate Planning Attorneys Explain Why You Don’t Want to Die Intestate appeared first on Hedeker Law.
Have you put off creating your estate plan because you don’t know where to start? Or maybe because you aren’t sure what components you should include in your plan? If either, or both, of those apply to you, you are not alone. Surveys tell us that over half of all Americans have yet to create an estate plan, despite understanding the importance of having one in place. Like you, most of those people admit that not knowing where to start and/or what to include in the plan is the reason for their procrastination. Working one on one with an experienced [Read more…] The post Vernon Hills Estate Planning Lawyers Explain 10 Steps to Creating an Estate Plan appeared first on Hedeker Law.