Planning your final affairs is never an enjoyable activity. Most people really don’t want to think about what they need to deal with when they pass away. Is this you? Think about is not only what will happen to you, but what will happen to your spouse, children, and any relatives or friends who … [Read more...] about Poor Estate Planning Affects Your Heirs in Chicago
If you have a residence outside of Illinois, you’re probably aware that the state laws surrounding wills and estate plans can be markedly different. If you have a family home in nearby Gary, Indiana, or frequently travel north to Wisconsin, which state law takes precedence if you die … [Read more...] about The “New Illinois Trust Code” For 2020
Because the world is still in flux with the lingering effects of the pandemic, estate planning may not be a the top of your list. However, current events make it the best time to pay attention to the so-called “gift tax” so you can take advantage while the maximum limits have been more than … [Read more...] about Estate Planning And The Gift Tax In 2020—What You Should Know
You may have heard about the SECURE Act that brings changes to retirement and estate planning. If you haven’t spoken with your estate planner yet, it may be time to schedule that appointment. The formal name is the Setting Every Community Up for Retirement Enhancement Act of 2019 and became … [Read more...] about The SECURE Act Can Affect Your Estate Planning
A will is one part of an overall estate plan, designed to make sure your wishes are respected and your family is protected. But creating a will isn’t the end of it—estate planning is a regularly updated process where you and your attorney work to include everything. Scenario 1: you’ve written … [Read more...] about What Is A Codicil To A Will And When Is It Used In Chicago, IL?