The answer is “yes.” If your parents have yet to create an estate plan, then you must try to broach the topic with them. Why? Here are just a few reasons: Without an estate plan, your parents’ assets could be subjected to creditors and intestate succession, which...
Many people in the Springfield area might worry about how they are going to afford a stay in an assisted-living facility should they need one. The costs for a nursing home stay vary, but these facilities can easily charge close to $10,000 per month for a stay. For...
Too many people in Illinois are victims of serious accidents which are not their fault. After these accidents, they may recover money for their medical bills, lost wages and other costs through a personal injury lawsuit or negotiation . In major accidents or...
As people in Illinois and elsewhere start mapping out how to protect their assets, they are thinking not only of their retirement years, but also for what lies ahead once they are no longer there. Working hard and saving over a lifetime has benefits, but only if a...
Perhaps one of the most important decisions a Springfield makes when he is writing his will is his choice of executor. While involving a different type of document and process, very similar things can be said about choosing a trustee. What does an executor do?...
After someone dies, it is commonly understood that their assets and property, referred to as their estate, will be distributed according to their will. However, what happens if there is no will? The estate of an Illinois resident who dies without a will must go...
Estate planning attorneys routinely reach out to their clients when big tax laws pass. This is because those tax changes can change the effectiveness of an estate plan, especially one that relied on some aspect in the tax code that no longer exists. However, taxes are...
Planning for the future can be exciting when people consider growing their families, taking new jobs, or buying new homes. Accomplishing goals and supporting loved ones can be a priority for many during the course of their lives. However, considering these objectives...
With the roster of estate planning tools available, people are exploring alternatives to the traditional will. The irrevocable trust is one alternative that has grown in popularity as of late. It offers estate planners unique benefits and rare versatility. However,...
Estate planning is about more than just what happens after you die. Living trusts, for instance, can distribute assets you own while you are still healthy and whole. And Illinois has options for you even when you’re not healthy – so that decisions are made in...
