One of the most popular options for estate planning in Illinois is a charitable trust, where an individual donates and transfers valuable assets to a charity to “hold” until the owner’s passing. You still “own” your property as an appointed trustee, or you can appoint someone else to do it. … [Read more...] about Do Charitable Trusts Pay Capital Gains Taxes?
Can A Living Trust Be Contested in Chicago, IL?
Estate planning is supposed to take care of all of your final affairs and make sure your family doesn’t have to suffer through months or years of probate, or watching the state take money and property from them if you’re without a will. Creating a Chicago IL living trust allows your property to … [Read more...] about Can A Living Trust Be Contested in Chicago, IL?
Can a Living Trust Affect My Child’s FAFSA for a Chicago College or University?
Funding your child’s higher education can be daunting, and every parent waits with bated breath to see how much the Free Application for Federal Student Aid (FAFSA) might help chip away at the monstrous bill. But the superficially “straightforward” process of reporting your assets and income can be … [Read more...] about Can a Living Trust Affect My Child’s FAFSA for a Chicago College or University?
Setting Up a Power of Attorney in Illinois
The Power of Attorney is one of the more important estate planning tools that you can have. Through this legal document, you'll appoint a person, typically a close relative, to help handle your affairs or take care of what you're not able to do (when you're not able to do it). Generally, a power of … [Read more...] about Setting Up a Power of Attorney in Illinois
5 Ways an Illinois Estate Planning Attorney Can Help
Estate planning is a fundamental endeavor that most people should consider, whether or not the plan involves a huge estate and complex finances and needs. Some estate plans can be as simple as a last will and testament and power of attorney. Either way, having a Chicago IL estate planning attorney, … [Read more...] about 5 Ways an Illinois Estate Planning Attorney Can Help