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Gun transfer on death or disability

Gun Transfers Following Death or Disability

September 11, 2019      by: tlaw

The recently passed new Illinois Trust Code. covers ownership transfers of guns upon disability or death. Gun Ownership upon Disability With the new statute, gun ownership upon disability is fraught with potential issues. Even if you currently possess a FOID card, you may become ineligible to possess your guns if you are: Prohibited from possessing … Continue reading Gun Transfers Following Death or Disability

Living Trust Estate Plan

Divorce, Blended Families and Your Living Trust

August 6, 2019      by: tlaw

If your marriage has ended in divorce, your spouse has died, or you have remarried and both spouses have children from a prior marriage, you must revisit your Living Trust or any other estate plan and update it along with all your beneficiary designations. Divorce Going through the process of ending your marriage can be … Continue reading Divorce, Blended Families and Your Living Trust

Trustees and Living Trusts

Trustee: Who to Choose and What They Do

May 12, 2019      by: tlaw

The Trustees Role What is a Trustee? A Trustee in a Living Trust has similar responsibilities as an Executor in a Will. A Living Trust is the most effective, cost-efficient and private estate plan, administered outside of Probate Court. In contrast, a Will requires Probate. Incidentally, Wills for Heroes provides an excellent service for First … Continue reading Trustee: Who to Choose and What They Do

Joint Tenancy

Joint Tenancy and its Perils

April 14, 2019      by: tlaw

Joint Tenancy – it is quick, convenient and tempting. It used to be called, “The Poor Mans 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. It is effortless to add someone’s name to a title. This is done … Continue reading Joint Tenancy and its Perils

Pets Should Not Be Overlooked in Your Living Trust

February 9, 2019      by: tlaw

Pets are Family We can all admit it. Our pets are part of our family. And they’ve earned it. What will happen to your pets when you are gone? It can be hard enough facing the reality that our time is limited, but our pets might very well outlive us.  Certainly, you should prepare and … Continue reading Pets Should Not Be Overlooked in Your Living Trust

Tuohy Law Offices

Recent Developments in Laws and the New Tax Law

February 19, 2018      by: tlaw

There are a number of developments in the new tax law and other laws to keep in mind as they may impact you and your family significantly.

Planning for 2018

7 Steps to Take Before 2018

December 13, 2017      by: tlaw

Don’t set aside planning for what is important for you and your families security before the end of the year.

Tuohy Law Offices Living Trust protections for disability

Legal Disability: Avoiding Court with a Living Trust

August 8, 2017      by: tlaw

Simply put, you can be declared legally disabled if someone petitions the court with the allegation that you are not fully able to manage your person or estate.

Living Trust in the Season of Giving and Planning

December 18, 2016      by: tlaw

Here we are again. It is hard to believe how quickly time passes. Snow on the ground and another Holiday Season. Ask yourself two questions: Are we giving enough? Have you planned for when you are gone and protected your family with a Living Trust?

The Difference Between a Will and a Trust

February 25, 2016      by: tlaw

Often people believe their affairs are in order, especially if they are organized and intentional in their everyday lives. However, in the event of a sudden occurrence, the organization of our lives has little effect on how our affairs will be handled when we no longer can do so. Understanding the difference between a Will … Continue reading The Difference Between a Will and a Trust

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