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.
If you are married, you undoubtedly wish to protect, and provide for, your spouse in your estate plan. To do that, you also need to ensure that your estate assets are protected within your estate plan first. Specifically, you need to be aware of the impact federal gift and estate taxes could have on your estate if you fail to include tax avoidance strategies and tools in your comprehensive estate plan. Protecting and providing for your spouse within your estate plan becomes a bit more complicated when your spouse is a non-citizen. One tool people often use in this situation [Read more…] The post Lincolnshire Asset Protection Attorneys Explain How a QDOT Trust Works 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.
As both your assets and your family grow, your estate plan should grow with them. You will soon find that a simple Last Will and Testament is not sufficient to meet all of your estate planning needs and goals. One of the most common additions to an estate plan is a trust agreement. The type of trust you establish will depend on your goals and objectives. If you are married to a foreign national, or non-citizen, your estate planning attorney may suggest that you include a Qualified Domestic Trust, or QDOT. Only your Illinois estate planning attorney can help you decide [Read more…] The post Lincolnshire Asset Protection Attorneys Explain How a QDOT Trust Works appeared first on Hedeker Law.
Not all that long ago, trusts were used almost exclusively by the wealthy because loopholes in the law allowed a trust to be used to transfer wealth without paying taxes on that transfer. Although those loopholes have long since been closed, trusts are now more popular than ever and are routinely found in the estate plan of the average person. If you were recently notified that you are the Trustee of a trust created by a family member or friend, and you have never acted in the role of Trustee before, you probably do not know what is expected of [Read more…] The post Can Lincolnshire Living Trust Attorneys Help Me Administer a Trust? appeared first on Hedeker Law.
If you are a senior yourself, or you are the caregiver for someone who is, you need to know as much as possible about elder abuse and neglect because knowledge is power. One type of elder abuse is particularly pervasive in the United States – financial abuse or exploitation. Although financial abuse does not leave physical reminders with a victim, the aftermath of financial exploitation can be devastating, both to a victim and to the victim’s family. In an effort to help you avoid becoming the victim of financial exploitation, the Lincolnshire elder law attorneys have put together some useful [Read more…] The post Lincolnshire Elder Law Attorneys Offer Tips to Prevent Financial Exploitation appeared first on Hedeker Law.