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 think about estate planning, you likely focus on ensuring that the distribution of your estate assets after you are gone occurs according to your wishes. A well thought out estate plan, however, can do much more. For example, have you given any thought to the legal process that your estate will have to go through after your death? This process, known as “probate” can be time-consuming and expensive. The good news is that your estate may be able to avoid probate with careful estate planning. What Is Probate? Most people leave behind an estate when they die. That [Read more…] The post Can My Estate Avoid Probate? appeared first on Hedeker Law.
If you have a Last Will and Testament in place, you undoubtedly executed your Will as a way to ensure that your wishes with regard to the disposition of your estate assets would be honored after you are gone. Unfortunately, even a flawlessly drafted and properly executed Will cannot ensure that loved ones won’t challenge your Will. There are, however, some steps you can take to decrease the likelihood of litigation during the probate of your estate. Including a no contest clause in your Will is a simple, yet often effective, option. The probate attorneys at Hedeker Law, Ltd. explain [Read more…] The post Probate Attorneys Explain a No Contest Clause 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.
The odds are very good that you will be required to oversee the probate of an estate at some point in your life. If that time is now because someone close to you recently passed away, and you have never before served as a Personal Representative, you are likely feeling a little intimidated by the prospect. In addition, if you are still grieving the loss of your loved one it can be difficult to focus on your job as Personal Representative. To help you get started and provide some direction, the probate attorneys at Hedeker Law, Ltd. have put together [Read more…] The post Step by Step Guide by Probate Attorneys 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.
Although your initial estate plan may be fairly simplistic, it will likely grow as both your estate and your family grow. As such, you will need to decide what additional estate planning goals and objectives you wish to add to your plan. A common estate planning goal you may wish to consider is probate avoidance. To help you decide if probate avoidance should be part of your estate plan, the probate attorneys at Hedeker Law, Ltd. explain why probate avoidance is a common estate planning goal. What Is Probate? Most people leave behind an estate when they die. That estate [Read more…] The post Probate Attorneys Explain Why Probate Avoidance Is a Common Estate Planning Goal appeared first on Hedeker Law.