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…
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.
Wills and trusts are two common legal instruments of estate planning. A will is a legal declaration of an individual’s wishes for the distribution of their assets after they have died. A trust also provides for asset distribution upon death, but can also control assets during the client’s lifetime and can place parameters on distribution after death.One of the…
Living trust beneficiaries have certain rights that are designed to help protect their interests with regard to the trust at hand. The type of living trust (revocable or irrevocable) and the type of beneficiary involved determines which rights apply.
There are a few facts about revocable living trusts that might seem a bit surprising to many individuals who are interested in this effective estate planning tool. While a living trust is often an adequate solution for avoiding lengthy probate and the expenses that are associated with this burdensome process, it may not be the right choice for everyone….
Taking certain precautions when drafting estate-planning documents can help to avoid future legal challenges by disgruntled family members. One common will contest involves allegations that the family members were incompetent when they drafted their wills. Others may involve arguments that the testators were unduly coerced when they drafted their wills or that the wills were not properly executed. A…
Probate law will likely change under the new presidential administration. Trump calls for a repeal of the estate tax. He also proposes a capital gains tax on assets left behind over $10 million. The details are still unclear, but an experienced probate lawyer can answer questions about estate planning.
Estate planning needs to include a long-term care plan in the event that such care becomes necessary as the planner ages. This is a critical aspect that people may miss if they do not seek help. An estate planning attorney helps people determine the right long-term care plan. Depending on where an Illinois resident lives, the costs and services…
Approximately 12% of the US population is physically or mentally disabled. Many of these individuals reside with or receive financial support from their parents or other family members. Estate planning for these dependents is crucial for ensuring their long-term care and welfare.
Intra-family loans are an excellent way for families to share the wealth without disrupting their estate and gift tax exemptions. These types of loans, however, aren’t always easy to structure. While individuals can put intra-family loans together themselves, the services of an experienced estate planning attorney and possibly a tax advisor should be considered to avoid possible complications or…
