Estate planning is crucial for new parents, as it ensures the security and well-being of their child in case of any unforeseen circumstances. New parents must find a way to provide their children with a safe and stable future. Estate planning is not just for the...
Estate Planning
Can you change your will’s executor?
The executor of your will plays an integral part in your estate planning – they ensure your wishes are fulfilled. Thus, chances are you considered several factors to appoint the right party. But circumstances may change. Accordingly, you may need to find another one....
Estate planning options to support your grandchildren
Part of the joy of estate planning is financially providing for your loved ones. But to do so effectively, you have to know how to use legal documents to achieve your goals. That can get complicated depending on what you want out of your estate plan, but don’t let...
Should your estate plan include more than a will?
Many people think an estate plan is just for the wealthy and having a will should be sufficient. However, there are many things to consider besides the distribution of your assets after you pass away. Why do you need more than a will, and what should you include in...
Why do you need to create an estate plan in Illinois?
Whether you are young or old, an estate plan is always a good thing to have. Not only does it allow you to provide for your loved ones, but it can also make your passing easier for them: You will already have made some of the most important decisions that need to be...
Updating your estate plan after your first baby’s birth
A common misconception about estate planning is that only older people do it. However, young adults can benefit from creating an estate plan too. Over time, you can update your estate plan as you go through significant milestones, such as having your first baby. Why...
What are the duties of an executor of a will?
People often agree to be the executor of a will in Illinois without really knowing what it means. They may understand the very basics of their duties, but most do not understand the probate process. People usually agree to be the executor because they are close with...
Choosing an executor for your will
Once you have decided to set up your estate plan, you will need to choose an executor for your will. An executor is a person who carries out your wishes according to the terms of your will after you pass away. Being an executor of a will in Illinois comes with many...
Three important reasons why you need a will
A will forms the backbone of most estate plans, but many people put off executing this important document. The following are three important reasons why you need to create a will before it is too late. Reason 1: Avoid intestate succession You likely have preferences...
After you pick the right trust, pick the right trustee
Before you finish your estate plan, there are many things to consider. Two things are picking the right trust, and just as important, picking the right Springfield, Illinois, trustee. Do not keep it in the family Your estate plan is a deeply personal endeavor, and...