Category: Estate Planning

Looking at the Latest Federal Tax Plan

On November 2nd, Congress unveiled its latest proposal for the sweeping tax code reform that President Trump promised during his campaign. This plan is far from a finished product and has not made it to budget analysts or to the Senate. However, the GOP in the House and the Senate seem motivated to prove that  … Read more

Estate Planning with Privacy in Mind

In spite of this age of social media, we still take great effort to protect our personal privacy. Most of us don’t want everyone to know how much we make and how much we own. In addition, we go to great lengths to protect ourselves from identity theft and people who seek to rip us  … Read more

What are Void Transfers?

Caregivers who provide assistance to incapacitated people serve a vitally important role, whether it is in a part time or full time capacity. Under Illinois law, a caregiver is defined as “a person who voluntarily, or in exchange for compensation, has assumed responsibility for all or a portion of the care of another person who  … Read more

Permissible Investments By A Representative

Permissible Investments by a Representative

An executor or administrator of an estate plays a critical role and wears many hats when an estate goes through probate. One of these roles is a fiduciary duty to oversee the decedent’s property in a reasonable and responsible manner. This includes deciding where to invest the decedent’s money during probate. A decedent’s will may  … Read more

Planning for Your Special Needs Child

  If you are raising a child with disabling special needs, you understand the depth of your love for your child, and learn the lengths you are willing to go for another person. There also comes a clearer focus and priority placed on planning for your family’s future. This is because long-term medical care is  … Read more

Estate Planning for Couples

Estate Planning for Couples

When you get married, you become a part of a team. A team that lives together, grows with children, and works with the hope of one-day enjoying retirement together. Married couples also put their estate plan together. This is because estate planning is about securing the future for each other and for your children. If  … Read more

Creating a Plan for Charitable Giving

Creating a Plan for Charitable Giving

Many of us have causes that we are truly passionate about, causes that are personal, or that hit us at our moral core. We volunteer, we advocate, we fundraise, and we donate. Estate planning allows for us to continue our commitments to the causes we believe in. In fact, charitable giving can be a smart,  … Read more

Long Term Care for Elderly Parents

Long Term Care for Elderly Parents

The point of estate planning is to create a stable and predictable method of distributing your property when you pass away, while maximizing the amount that your heirs ultimately receive. People work closely with their attorneys to meticulously create their plans, which can involve any variety of gifting, wills, and trusts. However, one aspect of  … Read more

Is a Joint Will Right for You?

  A joint will is a single will executed by a married couple that determines how all of their property will be distributed upon their deaths. Generally, in such a document, upon the death of the first spouse, all property will transfer to the other spouse. For the rest of that spouse’s life, the survivor  … Read more