Over the last several decades, trusts have become an increasingly popular addition to a well-rounded and comprehensive estate plan. One reason for this is the numerous and diverse estate planning goals you can achieve with a trust. Although there are a seemingly endless number of specialized trusts, one thing that all trusts have in common is the need to appoint a Trustee to administer the trust. The Waukegan living trust attorneys at Hedeker Law, Ltd. explain why appointing a professional Trustee may be your best choice when you create your trust. Trust Basics for the Beginner At its most basic, [Read more…] The post Waukegan Living Trust Attorneys Explain Why a Professional Trustee May Be the Best Choice appeared first on Hedeker Law.
Creating a successful estate plan requires you to focus on several inter-related goals that go beyond simply deciding how your estate will be distributed when you are gone. Although those goals will not be the same for everyone, there are some estate planning components that are common to most plans. Incapacity planning is one of those components. The living trust attorneys at Hedeker Law, Ltd. explain how a trust can fit into your incapacity planning component of your estate plan. Why Is Incapacity Planning an Important Part of Estate Planning? When you think about estate planning you probably focus first [Read more…] The post Living Trust Attorneys Explain How a Trust Can Help with Incapacity Planning appeared first on Hedeker Law.
If you recently lost a family member, or other close loved one, the last thing you may wish to focus on right now is the legal ramifications of the decedent’s death. If, however, the decedent appointed you as Executor in his/her Last Will and Testament, you will need to focus on the probate of the estate. You may also need to focus on the probate process if your loved one died intestate (without a Will) and you appear to be the person elected to volunteer as the Administrator of the estate. For anyone who has never before acted as an [Read more…] The post Lincolnshire Estate Planning Attorneys Explain the Probate Process appeared first on Hedeker Law.
For the average person, the primary goal of estate planning is ensuring that family members are provided for in the event of death or disability. If that describes your number one reason for having an estate plan in place, ask yourself if you have included all of your family in that plan? How could you possibly forget a member of your family, you may be wondering. If you have a beloved pet that you consider part of the family, you may very well have failed to include Fido in your existing estate plan because you didn’t realize you could do [Read more…] The post Estate Planning Attorneys Remind You to Include Fido in Your Plan appeared first on Hedeker Law.
Like most people, you likely have a vague notion of what the probate process entails and why it is required, but you probably don’t know much more than that. Why would you, after all, if you have never had reason to be directly involved in the probate of an estate? There is a very good chance, however, that you will be involved in the probate of an estate at some point in your life, making at least a basic understanding of probate essential. Moreover, you should learn as much as possible about probate so that you can incorporate that knowledge [Read more…] The post Lincolnshire Probate Attorneys Answer Top 5 Probate Questions appeared first on Hedeker Law.
Although your initial estate plan may be fairly simplistic, it will likely grow as both your estate and your family grow. As such, you will need to decide what additional estate planning goals and objectives you wish to add to your plan. A common estate planning goal you may wish to consider is probate avoidance. To help you decide if probate avoidance should be part of your estate plan, the probate attorneys at Hedeker Law, Ltd. explain why probate avoidance is a common estate planning goal. What Is Probate? Most people leave behind an estate when they die. That estate [Read more…] The post Probate Attorneys Explain Why Probate Avoidance Is a Common Estate Planning Goal appeared first on Hedeker Law.
Because a comprehensive estate plan should accomplish a wide range of estate planning goals and objectives, the average estate plan will include a variety of estate planning tools and strategies aimed at achieving those goals and objectives. One of the most common estate planning tools is a trust. Though once used almost exclusively by wealthy families to keep the family wealth in the family, trusts are now commonly found in the estate plan of the average person. Given how common it is to find a trust in an estate plan, it should come as no surprise that it is also [Read more…] The post Waukegan Trust Administration Attorneys Answer Top 5 Questions appeared first on Hedeker Law.