A will is an important document because it ensures that your final wishes regarding your property, assets, and other belongings are carried out. However, there are several situations where a person’s last will and testament could be deemed invalid. The Illinois probate lawyers at Charles T. Newland & Associates can ensure that your will is properly drafted, valid, and…
The death of a loved one can be traumatizing, and your family might be going through a difficult period of grief. This difficult situation can become even more so if you learn that your loved one passed away without having a valid last will and testament. Many people underestimate the importance of a will, or believe that estate planning…
A critical part of creating a living trust is to choose who will be the successor trustee. A successor trustee takes over the management and administration of the trust if the trust creator becomes incapacitated or passes away. A trustee stepping in has many duties related to trust administration, including a fiduciary duty to the beneficiaries of the trust….
When you create a revocable living trust, you will be able to manage and access the trust property until you pass away or become incapacitated. Then, a person you designated will need to take over the management role as your successor trustee. This trustee will have numerous duties and must conduct these duties while maintaining a high standard of…
Trusts are popular estate planning tools, and different kinds of trusts have different purposes and benefits. The following is a brief overview of types of trusts – to discuss the best kind for your specific situation, you should consult with an experienced estate planning lawyer in Illinois. Revocable Living Trust – This is a trust that you can manage…
