Are you in need of a probate administration attorney in Lincolnshire, Illinois? If so, you’ve come to the right place. In this blog post, we will discuss the importance of hiring a skilled Lincolnshire probate administration attorney to handle the complexities of probate administration and how Charles T. Newland & Associates can help you navigate this process. Probate administration…
The probate process can be complex and daunting, particularly when you’re grieving the loss of a loved one. Charles T. Newland and Associates, a trusted law firm with years of experience, is here to help you through this challenging time. With a team of skilled probate attorneys in Rolling Meadows and Lincolnshire, we can assist you with navigating the…
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…
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…
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….
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…
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…
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…
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…
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,…
