After someone dies, there is a legal procedure that handles the administrative part of their final affairs. Called “probate” in Illinois, it involves following the instructions in the decedent’s will, if there is one. If there is no will, an executor is appointed and the property is distributed … [Read more...] about What Are The Steps Of The Illinois Probate Process?
What Is A Codicil To A Will And When Is It Used In Chicago, IL?
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?
How Pour-Over Wills And Living Trusts Work Together In Glenview, IL
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...] about How Pour-Over Wills And Living Trusts Work Together In Glenview, IL
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...] about The difference between executor, trustee, and agent.
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...] about The Value Of Life Insurance In Illinois Estate Planning
