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.
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.
When you contemplate your estate plan, the first thing that comes to mind is probably a Last Will and Testament. Most people associate a Will with estate planning; however, there is another option for the foundation of your estate plan – a trust agreement. In fact, there are a number of benefits to using a trust instead of a Will as your primary estate planning document. To help you make the right decision for your plan, the Lincolnshire living trust lawyers at Hedeker Law, Ltd. explain the benefits of using a trust instead of a Will. Estate Planning Basics Like [Read more…] The post Lincolnshire Living Trust Lawyers Explain the Benefits of Using a Trust Instead of a Will 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.
Estate planning, when done properly, involves a number of inter-related goals and objectives that all come together in one cohesive plan. Although the primary reason for your estate plan might be to ensure that your estate assets are distributed according to your wishes after you are gone, that is likely not your only goal. In addition, there are a number of other considerations that can have a direct impact on that goal. For example, have you considered the impact your estate’s liquidity will have on your overall estate plan? To ensure that you do, the estate planning lawyers at Hedeker [Read more…] The post Estate Planning Lawyers Explain Why Estate Liquidity Is So Important 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.