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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

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

Living Trust

Give Your Children the Living Trust Gift that Keeps on Giving

April 15, 2018      by: tlaw

You spend the better part of your life working and worrying about your children’s well being.  When it is your time to go, you can leave them with a legacy gift that secures their future.

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.

Probate, Living Trust

The Truth About Probate and Why You Should Avoid It.

July 9, 2017      by: tlaw

Probate: What it is. Why you should avoid it. Probate is the process of administering the estate of someone who has died or becomes incapacitated. It exists because no one can legally sign your name, even your spouse. According to the AARP, over $2 billion dollars is spent in Probate-related expenses, an average of 2-7% … Continue reading The Truth About Probate and Why You Should Avoid It.

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?

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