Category: Probate and Estate Planning

Avoid These Risks When You Set Up A Living Trust

A living trust is a reliable, flexible document that can be used to protect an individual’s financial assets prior to death. Putting a revocable trust in place protects real estate, cash assets, and other valuables and makes it possible to transfer these assets directly to an heir.

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Is Probate Required When Property is Jointly Owned?

Certain jointly held properties will need to go through probate, while others can avoid it. Jointly owned property is a type of property owned by two or more individuals. Since there are several types of jointly owned properties and their characteristics determine whether or not they must go through probate, it’s important to understand their differences.

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Are You Afraid of A Living Will?

Living wills can provide important instructions in the event of life-sustaining treatment, but studies show that many people are reluctant to have these important legal documents drafted for them. Failing to include an advance directive in an estate plan can lead to confusion and unintended consequences.

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Discussing Estate Planning with Your Parents

Discussing an estate plan while parents are still competent can prevent disastrous consequences. Although it may be uncomfortable to have these types of conversations, reviewing an estate plan can help ensure everybody’s best interests are protected.

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Do I Need to Probate the Estate of My Parent if There Is a Will?

Having a valid will does not trigger or avoid probate. Whether probate is required depends on how the decedent held title to the property at the time of his or her death, the value of the estate, the type of property the decedent owned and the circumstances surrounding the creation of the will.

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Avoid These Common Estate Planning Mistakes

Consulting with experienced trust attorneys can help Illinois residents avoid common estate planning mistakes. Estate planning errors and omissions can make a loved one’s death even more difficult and stressful for surviving family members. Everyone with any amount of assets should

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Setting Up a Family Trust

Setting up a family trust can protect financial assets for heirs and beneficiaries. A family trust provides many benefits for family members and acts as an instrument to pass assets along to future generations.

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The Four Types of Illinois Advanced Directives

The federal government has laws that require certain types of health care facilities to tell patients their rights upon entry, but they do not cover what will happen in the event that the patient is unable to understand those rights. To ensure that patients have some form of control over their care, even if they are unconscious, Illinois has…

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When a Hazy Mind Leads to Probate Problems

When lack of capacity or undue influence is factors in the creation of a will or trust, there exists the possibility to challenge the document. In Illinois, these constitute grounds to invalidate provisions relating to the disposition of property, financial assets, donations, etc.

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