The word intestate describes a situation when someone dies without a will. The court must get involved and divide the estate on its own. Intestate law sets the ground rules for how the court will divide the estate. The Illinois Probate Law contains intestate laws. First, many assets may not even need court intervention or a will to distribute….
You likely associate estate planning with outlining how your assets and property should be distributed after your death, and this is a huge part of the process. However, you can also plan for what happens if you become incapacitated, and perhaps most importantly, you can use an estate plan to protect your children in the future. To learn more…
The experience of losing a loved one is tragic in and of itself, but is made all the more stressful and difficult when there are issues with their will and how property is passed on. If you think a will or certain terms of a will might not be proper and valid, you can challenge the will in probate…
The purpose of a trust is to set aside assets you own into an account that is designated to be managed by a trustee and ultimately received by third-party beneficiaries. While trusts can make the process following your death significantly easier and can give you confidence in your estate plan, they are not always as simple to create. There…
You likely know the basics of what a last will and testament is, but you might not know whether it is something you need. Many people assume that wills are documents meant for the wealthy or older adults who are nearing the end of their lives. However, the reality is that every adult should have a will in place…
An important part of estate planning is setting out power of attorney documents. This designates who has the authority to make decisions and handle your affairs should you become incapacitated by an illness, injury, or cognitive decline. If something goes wrong and you do not have a power of attorney in place, it can be disastrous for your financial…
Estate planning can seem intimidating – after all, who wants to consider the possibility of becoming incapacitated or passing away? Furthermore, what type of documents do you need and how do you know if they are valid? The good news is that the estate planning process does not have to be stressful or complicated if you have the guidance…
Selecting an executor is one of the most important decisions that you will make as part of your estate plan. Choosing the right executor can reduce the chances that something goes wrong in probate or there is a lawsuit against the estate. The executor is a manager and must have the right skills. Choose Someone Who Is Up to…
The estate’s executor serves an incredibly important role. This is why it is best to use great care in selecting the person who performs this duty. Before choosing an executor, it is important to understand what they do with regard to the estate. Simply stated, the executor handles the estate. They are responsible for managing all the property until…
Probate is something that concerns many people dealing with an estate. The process can be tedious and time-consuming. However, some families manage to make it through probate with a minimum of difficulty. The judge can play an important role in the probate process. Your best hope is that the probate court judge performs mostly an administrative function in your…
