Ultimately, the success, or failure, of your estate plan won’t be clear until it comes time to probate your estate. Creating a successful estate plan requires you to consider a wide range of inter-related goals and objectives. One of those is the impact federal (and sometimes state) gift and estate taxes will have on your estate. Failing to factor in estate taxes when creating your estate plan could result in a significant tax obligation that must be paid when your estate goes through the probate process. The Lincolnshire probate attorneys at Hedeker Law, Ltd. help you decide if your estate [Read more…] The post Lincolnshire Probate Attorneys Help You Decide If Your Estate Will Be Taxed appeared first on Hedeker Law.
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.
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.
If you recently lost a family member, or other close loved one, the last thing you may wish to focus on right now is the legal ramifications of the decedent’s death. If, however, the decedent appointed you as Executor in his/her Last Will and Testament, you will need to focus on the probate of the estate. You may also need to focus on the probate process if your loved one died intestate (without a Will) and you appear to be the person elected to volunteer as the Administrator of the estate. For anyone who has never before acted as an [Read more…] The post Lincolnshire Estate Planning Attorneys Explain the Probate Process appeared first on Hedeker Law.
Like most people, you likely have a vague notion of what the probate process entails and why it is required, but you probably don’t know much more than that. Why would you, after all, if you have never had reason to be directly involved in the probate of an estate? There is a very good chance, however, that you will be involved in the probate of an estate at some point in your life, making at least a basic understanding of probate essential. Moreover, you should learn as much as possible about probate so that you can incorporate that knowledge [Read more…] The post Lincolnshire Probate Attorneys Answer Top 5 Probate Questions appeared first on Hedeker Law.