Category: Probate and Estate Planning

Navigating Decedent’s Estates in Rolling Meadows and Lincolnshire with Charles T. Newland and Associates

Decendent's Estates in Rolling Meadows and Lincolnshire

Estate planning is an essential aspect of ensuring your loved ones are taken care of after your passing. Dealing with a decedent’s estate can be a complex and emotionally challenging process, particularly when faced with legal procedures and paperwork. Charles T. Newland and Associates, a trusted law firm, is here to provide compassionate and personalized guidance to those dealing…

Read More

What is the Fiduciary Duty of an Executor?

executor

An executor performs significant duties on behalf of the estate. They are trusted to make decisions that impact potential financial outcomes for other beneficiaries. Thus, they have a fiduciary duty to the estate, and they can be personally liable when they breach it. Fiduciary duties fall into two categories. The first is the duty of loyalty. The executor must…

Read More

Responsibilities of an Executor of an Estate

Executor of an Estate

There are many steps that must happen between the time that a loved one dies and when their assets can be transferred to their heirs according to their will. One person is tasked with these duties, and that person is the executor. The affairs of the deceased person need to be wound down before the assets can be distributed….

Read More

How Do You Revoke a Will?

revoke a will

A will is a legal document. Once you sign it, the will remains in place, and it is legally effective. If circumstances change, you may need to make changes or revoke a previous version of your will. Otherwise, someone named as part of your original will remains a part of it. Technically, you can revoke a will by destroying…

Read More

Can an Executor be Sued by Beneficiaries?

executor

When one is designated as the executor of an estate, they are given critical duties to handle that include selling estate property and settling debts with creditors. Their actions and decisions can affect the amount of money that heirs will receive under the will. An executor is considered a fiduciary under the law. A fiduciary owes certain legal obligations…

Read More

Provisions of a Will

Provisions of a Will

Your last will and testament provides your instructions for both your tangible estate and for your minor children. The will may both give specific instructions and designate the people who will carry out your wishes. Here are some of the important things that need to be included in a will. Your will designates an executor, who is a trusted…

Read More

Does a Trustee Need an Attorney?

The attorneys at Charles T Newland & Associates work with families on estate planning matters. We are helpful and reliable counselors that are here for you and your family.

When you are appointed as a trustee, you take on certain legal duties to the trust. Most importantly, you are obligated to place the trust interests ahead of your own. Not only do you owe a fiduciary duty to the estate, but you must also act with reasonable care in your capacity as a trustee. When you become a…

Read More

Creditor Claims in Probate

Lincolnshire Probate Litigation Attorney

Probate is the last chance that creditors have to be paid back debts by the deceased person before the estate is permanently closed.  It is the legal equivalent of “speak now or forever hold your piece.” Illinois law provides that creditors have two years from the date of the decedent’s death to file a claim against the estate. However,…

Read More

Spousal Inheritance Rules

Spousal Inheritance Rules

Spousal inheritance rules in Illinois are not as straightforward as they seem. In many situations, a surviving spouse will be able to retain many of their deceased spouse’s assets without the need for the probate process. Everything depends on how the property was titled before the spouse died. The rule is that when spouses have jointly titled property, the…

Read More

Can You Disinherit a Child?

Lincolnshire Estate Planning

So long as your child is not a minor, they can be disinherited in a will. Before you take this drastic step, you should consider it very carefully, as there could be a potential for bitter litigation. A will is a legally binding document. So long as you meet the legal requirements to make a will (have legal and…

Read More