Hopefully, you are aware of the importance of having an estate plan in place. Despite that awareness, you may have put off creating your plan. Like many people, the concept of estate planning may be a bit intimidating given the importance of the final product and the fact that you are unfamiliar with many of the concepts and strategies. Because we understand that, the Vernon Hills estate planning lawyers at Hedeker Law Ltd have made estate planning more user-friendly by creating the following 10 steps to creating an estate plan. Define your goals. A comprehensive estate plan should accomplish more [Read more…] The post Vernon Hills Estate Planning Lawyers Explain 10 Steps to Creating an Estate Plan appeared first on Hedeker Law.
If you are new to estate planning, you probably have a number of questions about what should be included in your estate plan and how the process of creating an estate plan is typically handled. Estate planning is a highly individualized process because of the personal, even sensitive, nature of the issues involved in creating an estate plan. When done properly, an estate plan should reflect your unique estate planning goals and objective as well as address any personal concerns or worries you have. There are, however, some goals and objectives that are frequently found in the average estate plan. [Read more…] The post Estate Planning Attorneys Explain the 5 Most Important Estate Planning Components appeared first on Hedeker Law.
If you have an estate plan in place already, you are ahead of the curve in the United States. Surveys indicate that despite understanding how important estate planning is, over half of all Americans do not have a plan. While you deserve to pat yourself on the back for putting together your initial estate plan, do not make the mistake of thinking that you can forget about the issue of estate planning from here on out. On the contrary, your initial estate plan needs to be reviewed and revised throughout the course of your lifetime to ensure that it remains [Read more…] The post Lincolnville Estate Planning Attorneys Stress the Need to Review Your Plan appeared first on Hedeker Law.
Most people equate the concept of estate planning with creating a plan for the distribution of their estate assets after their death to ensure that loved ones are provided for in their absence. This is certainly understandable as that is one of the primary functions of the average estate plan. When you think about protecting and providing for your loved ones, however, your death is not the only reason to have a plan in place. What happens if you become incapacitated tomorrow? Do you have a plan in place that protects you and your loved ones for that potential scenario? [Read more…] The post Can Estate Planning Lawyers Help with Incapacity Planning? appeared first on Hedeker Law.
For most people, one of the primary reasons they create an estate plan is to ensure that the State of Illinois does not get to decide what happens to their estate assets after their death. If that is one of your primary estate planning goals, you should consider the likelihood of someone contesting your Last Will and Testament and plan accordingly. If someone launches a successful Will contest, your efforts to determine the fate of your assets will be in vain and the State intestate succession laws will be used to distribute your estate. One of the grounds used to [Read more…] The post Vernon Hills Estate Planning Lawyers: Tips to Prevent Will Challenges Based on Capacity appeared first on Hedeker Law.
Owning a small business has long been part of the American dream. If you have realized that part of your American dream, it undoubtedly took a great deal of hard work and sacrifice to get your business off the ground. Now you need to make sure your investment is protected. One way to do that is to include business succession planning in your comprehensive estate plan. If you are not familiar with the concept of business succession planning, there is no time like the present to learn. Toward that end, the Vernon Hills estate planning attorneys at Hedeker Law Ltd. [Read more…] The post Vernon Hills Estate Planning Attorneys Explain the Need for Business Succession Planning appeared first on Hedeker Law.
In the United States, over half of all adults do not have an estate plan in place, despite understanding the importance of having a plan. When asked about why they have yet to create their estate plan, one of the most commonly given responses is that the entire concept is intimidating. This is understandable given the fact that most estate planning concepts and terms are not used outside of estate planning. In an effort to introduce you to some of those concepts and terms, the Lincolnshire estate planning lawyers at Hedeker Law, Ltd. put together the following five frequently asked [Read more…] The post Lincolnshire Estate Planning Lawyers Answer 5 Common Questions appeared first on Hedeker Law.