For the average person, becoming a parent is a life-changing event. Everything is viewed in a different light once you are a parent. Your estate planning goals and objectives are no exception to that general rule. In fact, estate planning takes on a heightened importance when you are the parent of a minor child. Although the urgency that you feel regarding the need to have an estate plan in place may give way to a less urgent desire to keep your estate planning current once your children reach the age of majority, the common thread for all parents is the [Read more…] The post Asset Protection Attorneys Explain How to Protect Your Children s Inheritance appeared first on Hedeker Law.
Every adult should have at least a basic estate plan in place. For some adults, however, estate planning takes on a heightened importance. This has traditionally been the case for members of the LGBT community; however, in light of the fact that same-sex marriage is now legal across the United States, is LGBT planning still necessary? The Lincolnshire estate planning attorneys at Hedeker Law Ltd. explain why it remains important for members of the LGBT community to have a comprehensive estate plan in place. We’ve Come a Long Way… As members of the LBGT community and their supports know, it [Read more…] The post Lincolnshire Estate Planning Attorneys Is LGBT Planning Still Necessary? appeared first on Hedeker Law.
For many people, one of the primary reasons for creating an estate plan is to provide for loved ones, specifically children, in the event of their death. If you are one of those people, you have probably gone to great lengths to create a Last Will and Testament or trust agreement that is very clear with regard to who your children are and what you wish them to receive from your estate. What happens, however, if you have another child after you execute your Will? What happens if a child of yours is born after your death? Or the biggest [Read more…] The post Waukegan Estate Planning Attorneys Discuss After-Born Children appeared first on Hedeker Law.
If you recently lost a family member or close loved one, you are undoubtedly trying to manage the emotional aftermath of your loved one’s death. At a time like this, the last thing most people want to focus on is legalities; however, someone must handle the legal and practical ramifications of your loved one’s death. Specifically, the decedent’s estate must be probated. If you are charged with handling the probate of the estate, the first thing you y need to do is decide which type of probate is required. To help you make that decision the Lincolnshire probate attorneys at [Read more…] The post Lincolnshire Probate Attorneys Explain the Different Types of Probate appeared first on Hedeker Law.
One of the most common tools used when creating a comprehensive estate plan is a trust agreement. Most people are familiar with the concept of a trust; however, the details can be a bit murky. If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. Although it is always best to consult with your Illinois estate planning attorney before you make a firm decision about the type of trust you need, it may [Read more…] The post Trust Attorneys Types of Trusts Explained appeared first on Hedeker Law.
You have probably listened to well-meaning friends and family members tell you how important it is for you to have at least a basic estate plan in place. If you are like over half of all Americans, you have yet to create a plan despite listening to their well-intentioned advice. Sometimes, the best way to impress upon someone the importance of doing something is to explain what will happen if they don’t do it. With that in mind, the Lincolnshire probate attorneys at Hedeker Law, Ltd. explains what happens to an estate if there is no Last Will and Testament. [Read more…] The post Lincolnshire Probate Attorneys Explain What Happens to an Estate If There Is No Will appeared first on Hedeker Law.
Although thinking about your own death, and the subsequent funeral and burial, may not be something you enjoy doing, it is wise to do so as part of your comprehensive estate plan. Including a funeral planning component in your estate plan ensures that your wishes are honored when the time comes and protects your loved ones from having to make difficult decisions during a time of heightened emotions and increased stress. One estate planning tool often included in a funeral component is a funeral an Irrevocable Life Insurance Trust (ILIT), often referred to as a funeral or burial trust. The [Read more…] The post Vernon Hills Trust Attorneys Explain Funeral and Burial Trusts appeared first on Hedeker Law.