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How Much Does a Living Trust Cost in Chicago?
If you’re seeking a smooth and efficient transfer of your assets upon your passing, a living trust can be a strategic option to consider as part of your estate plan. But before you commit to drafting this legal document, you may wonder about the cost of the whole process. This blog dives into the costs … Continue reading How Much Does a Living Trust Cost in Chicago?
Secure Your Legacy: An Essential Guide to Creating an Illinois Living Trust
Estate planning is a time-consuming endeavor that can often feel like navigating a labyrinth of legal jargon and complex procedures. However, understanding the ins and outs of estate planning is crucial in ensuring that your wishes for your assets are carried out precisely. A living trust can be a valuable tool for your Illinois estate … Continue reading Secure Your Legacy: An Essential Guide to Creating an Illinois Living Trust
Illinois Estate Planning: The Basics You Need to Know
Estate planning allows you to make informed decisions about your assets, beneficiaries, and end-of-life care, providing peace of mind for you and your loved ones after you pass. However, the process can be daunting, from crafting living wills and irrevocable trusts to understanding probate and estate tax. This comprehensive guide can be your starting point, … Continue reading Illinois Estate Planning: The Basics You Need to Know
Protecting Your Assets: What Are the 5 Components of Estate Planning?
Securing your legacy and protecting loved ones begins with strategic estate planning. In Illinois, just as in many states, specific laws and regulations govern the distribution of the estate of the deceased. Whether you have a complex portfolio or a simpler set of assets, understanding these legal nuances is essential to ensure your assets are … Continue reading Protecting Your Assets: What Are the 5 Components of Estate Planning?
6 Estate Planning Myths
When it comes to estate planning, there are several myths. And not knowing fact from myth can be very costly.
Joint Tenancy and its Perils
Joint Tenancy – it is quick, convenient, and tempting. It used to be called “The Poor Man’s Will.” And it is fraught with potential disaster. Consequently, aside from marital funds, you should be very cautious of ever using it to title assets.
Umbrella Insurance; Why You Need It.
During the decades that the city hosted the retirement seminar, I added a brief discussion on umbrella insurance. Considering the importance of this insurance coverage and its low cost, I was always concerned about how few officers in the room had the coverage. This insurance coverage can be the difference between complete asset security and … Continue reading Umbrella Insurance; Why You Need It.
Estate Plan Valid if You Move?
If you move your legal residence, must you change your estate plan?
Americans move an average of 12 times in their lifetimes and as frequently as once every five years. Does your estate plan move with you?
As with all legal issues, the answer to that question is unnecessarily complicated.
Firearm Transfers Following Death or Disability
Firearm ownership transfers upon disability or death are covered in the Illinois Trust Code. With the statute, firearm ownership upon disability is fraught with potential issues.
HealthCare Legal Document and School
Are you ready? Letting go of the kids is hard. If you are packing up the kids or grandkids for a year away at college or thinking about your own plans, health care is never far from your thoughts.