Establishing a living trust is a suitable instrument to protect yourself in case of illness, mental incapacity, and avoiding the probate process at death. You’ll transfer property into the trust and name yourself as trustee, in order keep control of it. Once your living trust has been … [Read more...]
Say Goodbye to the Stretch IRA
What was a stretch IRA? Prior to January 1, 2020 rules allowed an IRA account holder to name a spouse as primary beneficiary and children as the contingent beneficiary. After the account owner’s death, the spouse and then the children could take distributions over their respective life … [Read more...]
Appointing A Guardian For An Incapacitated Loved One In Glenview, IL
The ability to care for one’s self is something most people take for granted, until they’re no longer able to do so. Some may not realize they need help, or do and don’t ask for it. You may have a relative who is getting on in years and doesn’t realize they’re in need of assistance. They may … [Read more...]
Reasons to Amend a Living Trust in Glenview, IL
During the course of your estate planning, setting up a living trust (or two) may be an integral part of your overall plan. It’s a relatively safe, easy way to cover asset distribution without the time and expense of probate court for your family and beneficiaries. Plus, you keep your property while … [Read more...]