After you’ve completed your estate planning, you may feel like you’ve taken care of everything, dotted all the I’s and crossed all the T’s. You’ve written a will and created trusts to keep as much as you can out of the probate process. But it’s also possible that you’ve overlooked something, … [Read more...]
The difference between executor, trustee, and agent.
Many people, when planning their estates, run across the above three terms which are often confusing to them, but important to know. They have important differences which you need to understand in order to have an effective estate plan. What is a trustee? If you have a revocable living trust, the … [Read more...]
The Value Of Life Insurance In Illinois Estate Planning
Most people think of life insurance as just a payout after someone dies. It can be, but life insurance can also be an integral part of your estate plan as well. Of course, a life insurance policy can offer loved ones some financial stability after death, but you can also maximize the value of a … [Read more...]
COVID-19 Changes to IRA Rules Provide Opportunities
Congress has enacted many tax law changes this year affecting qualified plans and IRAs. While the SECURE Act has created more permanent changes, the CARES Act brings some temporary relief to individuals affected by the Covid-19 pandemic. One area that has seen a lot of change recently is required … [Read more...]
Why Nonprofit Startups Need A Nonprofit Attorney In Chicago Illinois
Nonprofits come in a wide range of types—educational, religious, animal rescue/welfare, housing development, social services agencies, among others. Each organization has a specific group they serve that isn’t being helped elsewhere. What they all have in common is the desire to help others for the … [Read more...]