Are you already saving money for your retirement? Are you disciplined with your savings and careful with how you invest those savings? Is all of that part of a larger plan to ensure that you have amassed a sufficient retirement nest egg to live comfortably during your “Golden Years?” If so, then you undoubtedly would not want something to threaten your plan, or more specifically your retirement nest egg. There may, however, be a fairly serious and potentially damaging threat to your retirement nest egg – and you may not even be aware of it. The Lincolnshire asset protection lawyers [Read more…] The post Lincolnshire Asset Protection Lawyers Explain How Nursing Home Costs Can Threaten Your Nest Egg appeared first on Hedeker Law.
For many people, one of the primary reasons for creating an estate plan is to ensure that the assets they spend a lifetime accumulating are distributed according to their wishes at the time of death. If that applies to you then there is something else you need to also consider in your estate plan – asset protection. Unless you protect the assets you own, there won’t be anything left to pass down to your intended beneficiaries at the end of your life. A trust can be an excellent asset protection tool if it’s the right type of trust. The asset [Read more…] The post Asset Protection Attorneys Explain Why the Type of Trust You Create Is Important appeared first on Hedeker Law.
When a loved one dies, a period of grieving and heightened emotions typically follows. There are also practical and legal steps as well, however, that follow a death. To begin with, the decedent’s Last Will and Testament must be submitted to the appropriate court as part of the probate process. What should you do, however, if you question the authenticity of the Will submitted for probate? The Waukegan estate planning lawyers at Hedeker Law, Ltd. explain how to contest a Will. What Is Probate? When an individual dies, the decedent’s estate is required to go through probate. If a Will [Read more…] The post Waukegan Estate Planning Lawyers Explain How to Contest a Will appeared first on Hedeker Law.
As an adult child, making the decision to seek guardianship over a parent is usually a heart-wrenching process, and one that can leave you riddled with guilt. The idea of becoming a parent’s Guardian often seems like it is akin to taking away a parent’s independence. It is important, however, to look at your decision from another perspective. If you believe your parent needs a Guardian, and you fail to step up and become that Guardian, your parent could serious irreparable physical, mental, or financial harm. Once you have committed to seeking guardianship of your parent, the next step is [Read more…] The post Guardianship Attorneys Explain How to Petition for Guardianship appeared first on Hedeker Law.
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.