If you have a Last Will and Testament in place, you undoubtedly executed your Will as a way to ensure that your wishes with regard to the disposition of your estate assets would be honored after you are gone. Unfortunately, even a flawlessly drafted and properly executed Will cannot ensure that loved ones won’t challenge your Will. There are, however, some steps you can take to decrease the likelihood of litigation during the probate of your estate. Including a no contest clause in your Will is a simple, yet often effective, option. The probate attorneys at Hedeker Law, Ltd. explain [Read more…] The post Probate Attorneys Explain a No Contest Clause appeared first on Hedeker Law.
Although every estate plan is as unique as the person who creates the plan, there are some estate planning tools and strategies that are commonly found in an estate plan. A trust is at the top of that list. Although once used almost exclusively by very wealthy families as a way to pass down the family fortune without paying taxes on the transfer, both the law and trusts have evolved over time to the point where the average person can benefit from including a trust in his/her estate plan. One specific type of trust, a life insurance trust, can be [Read more…] The post Lincolnshire Estate Planning Lawyers Explain How a Life Insurance Trust Can Help appeared first on Hedeker Law.
Although every person who creates an estate plan has a unique set of needs and objectives in mind, a common estate planning goal is probate avoidance. There are several reasons why avoiding probate is so desirable, including the desire to save both time and money as well as a wish to keep the details of your estate plan private. If probate avoidance is one of your estate planning goals, the Lincolnshire probate attorneys at Hedeker Law, Ltd. explain some common strategies to help you better understand how you can reach that goal. What Is Probate and Why Might I Want [Read more…] The post Lincolnshire Probate Attorneys Explain Probate Avoidance Strategies appeared first on Hedeker Law.
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.