In Illinois, after someone passes, there is an administrative process called probate that handles the deceased’s final affairs including distributing their assets and property of their estate according to their will. This is the purpose of probate in Illinois. This court-supervised process … [Read more...] about The Purpose of Probate in Illinois
Creating a will alone or as part of a larger estate plan can seem a big deal. But it is a fundamental task that without it, any wishes about how you want your assets to be distributed will not be known. If you die without a will, then the state will distribute your assets through the probate court … [Read more...] about Things To Know About Wills
As we enter the New Year, many of us have a list of resolutions we’d like to accomplish. One resolution that is often overlooked but is an important one to consider is getting your affairs in order. There are many steps that can be taken to make sure that our affairs are in order so that we can … [Read more...] about New Year Resolution – Getting Your Affairs in Order
One of the biggest issues in estate planning is how much the beneficiaries will actually receive once probate is finally completed. For high-net estates, this can be a serious concern, leading to trusts and other instruments that take assets out of an estate for the purpose of probate. If you’re … [Read more...] about “Grantor Retained Annuity Trust” In Chicago, IL?
For most people, receiving an inheritance is a pleasant experience. It’s a final gift from a relative and can either be saved, invested, or used for something that isn’t in the current budget. Sometimes an inheritance is an unexpected surprise. However, if the recipient is on Medicaid, that … [Read more...] about How Can I Protect My Inheritance From Medicaid In Illinois?