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.
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.
Your Last Will and Testament will likely serve as the cornerstone of your estate plan; however, if you create a more comprehensive plan, you will undoubtedly include additional estate planning tools and strategies. One of the most common of those estate planning tools is a trust agreement. Trusts have become increasingly popular in recent years due, in large part, to the flexible nature of the trust and the numerous estate planning goals that can be achieved using a trust. If you are contemplating the addition of a trust to your estate plan, be sure to avoid making a common mistake [Read more…] The post Lincolnshire Trust Administration Lawyers Offer Tips for Choosing a Trustee 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.
The idea of sitting down and creating an estate plan can be rather intimidating if you know next to nothing about estate planning. It should come as no real surprise then that over half of all Americans have yet to create an estate plan despite recognizing the importance of having one in place. In an effort to remove some of the mystery out of the estate planning process, the Lincolnshire estate planning lawyers at Hedeker Law Ltd. have provided answers to five of the most commonly asked estate planning questions. If you have specific questions or concerns about your own [Read more…] The post Lincolnshire Estate Planning Lawyers Answer 5 Common Questions appeared first on Hedeker Law.
Are you one of the millions of Americans who has yet to create an estate plan? If so, you are not alone. Surveys tell us that although most people understand the need to have an estate plan in place, over half of all Americans do not have one. People offer a number of explanations for their lack of an estate plan, most of which boil down to not knowing how or where to start with their estate plan. The Lincolnshire estate planning lawyers at Hedeker Law, Ltd. have seen first-hand the confusion that follows when someone becomes incapacitated or dies [Read more…] The post Lincolnshire Estate Planning Lawyers Offer Tips for Getting Started on Your Estate Plan appeared first on Hedeker Law.