How to Handle a Beneficiary with a Drug Problem in Your Estate Plan


For most people, inheritance planning focuses on the distribution of estate assets after death. As such, when you create your plan you will need to decide which assets to gift to which beneficiary. What do you do, however, if you have a beneficiary, who has a drug or alcohol addiction? Is gifting them assets from your estate akin to throwing those assets down the proverbial drain? If the beneficiary in question is your child, completely disinheriting your child may not be an option; however, neither is squandering the assets you spent a lifetime working to acquire an option. The Lincolnshire [Read more…] The post How to Handle a Beneficiary with a Drug Problem in Your Estate Plan appeared first on Hedeker Law.
https://hedekerlaw.com/how-to-handle-a-beneficiary-with-a-drug-problem-in-your-estate-plan/

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Estate Planning for Parents of Young Children — Why You Need a Trust


Taking the time to create a comprehensive estate plan is important for every adult; however, once you become a parent it takes on a heightened importance. Naturally, as a parent, you want to make sure your child is well cared for in the event that something happens to you. You should consult with an experienced estate planning attorney to decide what specific components you need in your plan now that you are a parent. The Waukegan trust attorneys at Hedeker Law, Ltd, however, explain why a common addition for parents of young children is a trust. Why Your Last Will [Read more…] The post Estate Planning for Parents of Young Children Why You Need a Trust appeared first on Hedeker Law.
https://hedekerlaw.com/estate-planning-for-parents-of-young-children-why-you-need-a-trust/

Top Estate Planning Mistakes


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.
https://hedekerlaw.com/top-estate-planning-mistakes-2/

How Do I Know If I Need More than a Simple Will?


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.
https://hedekerlaw.com/how-do-i-know-if-i-need-more-than-a-simple-will/

5 Ways Estate Planning Lawyers Can Help You


Hopefully, you recognize the need to have a comprehensive estate plan in place as well as the advantages to working with an experienced estate planning attorney during the creation of that plan. What you may not know, however, are the numerous and varied other ways that estate planning lawyers can help you. Learning some of the additional ways in which an estate planning lawyer can help you may be beneficial to you now and/or in the future. Trust Administration A trust is a relationship whereby property is held by one party for the benefit of another. A trust is created [Read more…] The post 5 Ways Estate Planning Lawyers Can Help You appeared first on Hedeker Law.
https://hedekerlaw.com/5-ways-estate-planning-lawyers-can-help-you/

Why Choose a Living Trust to Distribute Your Estate?


When you contemplate creating an estate plan to distribute your estate assets after you are gone you likely envision using a Last Will and Testament to accomplish that distribution of assets. A Will certainly can be used to distribute your assets; however, there is another popular option. A living trust can also be used as the primary vehicle for distributing your estate. Of course you should consult with your estate planning attorney before deciding which option is better for you; however, learning the benefits of using a living trust to distribute your estate may help you make your ultimate decision. [Read more…] The post Why Choose a Living Trust to Distribute Your Estate? appeared first on Hedeker Law.
https://hedekerlaw.com/why-choose-a-living-trust-to-distribute-your-estate/

Top Estate Planning Mistakes


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.
https://hedekerlaw.com/top-estate-planning-mistakes/