When you contemplate the need for estate planning, you probably think in terms of planning for the distribution of estate assets after your death. Creating a roadmap which can be used to pass down your assets is certainly an important part of estate planning; however, a well thought out and comprehensive estate plan should accomplish much more than just deciding how your assets will be distributed. One important addition to a comprehensive estate plan is incapacity planning. The Lincolnshire living trust lawyers at Hedeker Law, Ltd. explain how incapacity planning fits into your estate plan. You Don’t Have to Be [Read more…] The post How Lincolnshire Living Trust Lawyers Can Help with Incapacity Planning 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.
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.
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.
Like most people, you are probably aware of the need to have an estate plan in place that dictates how your estate assets are to be distributed in the event of your death. Hopefully, you also recognize the need to have an experienced estate planning attorney assist you in the creation of that plan. That may not be the only time you need an estate planning attorney though. On the contrary, consider the following five additional reasons why you might need estate planning lawyers at some point in your life. Petitioning for Guardianship At some point in your life, you [Read more…] The post 5 Reasons You Might Need Estate Planning Lawyers appeared first on Hedeker Law.
When you contemplate your estate plan, your focus is likely on creating a plan that ensures your loved ones will be cared for after you are gone. Executing a Last Will and Testament is one way to pass down assets that will provide for your loved ones in your absence; however, there must be assets left to pass down for that to work. The estate you work so hard to build up while you are alive can only help those you leave behind if your estate assets survive long enough to do so. It is for this reason that many [Read more…] The post Lincolnshire Asset Protection Lawyers Explain the Difference between a Revocable and an Irrevocable Trust appeared first on Hedeker Law.
If you have a valid Last Will and Testament in place, the odds are good that your appointed someone very close to you (spouse, adult child, best friend) to be the Executor of your estate. While that choice isn’t always a poor one, it often is. The problem is that most people do not really know what probate entails. As such, they give very little thought to the appointment of their Executor when, in fact, your Executor will directly and usually significantly impact how your estate is handled after you are gone. To ensure that your estate is handled as [Read more…] The post Lincolnshire Estate Planning Lawyers Explain the Role of Executor appeared first on Hedeker Law.