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Estate plans contain important legal documents that outline your wishes for your assets and care. A good estate plan reflects your current life situation and goals. Thus, over time, you'll need to update it periodically, especially after major life changes or every...
While engaging in the estate planning process, you’re probably focused on what you can do to position your loved ones for success. That’s a good thing, as it constitutes a major part of your estate plan. But as you create your estate planning strategy you can’t...
Discussing estate planning with aging parents can be difficult due to emotional challenges, their fear of losing control and family dynamics. However, having this conversation can prevent misunderstandings and promote respect for their wishes. Here are ways to...
Drafting an estate plan is crucial for all adults. However, some changes in the circumstances of one's life increase the criticalness of estate planning. And one of those changes is having a child. As a new parent, you should draft an estate plan that protects your...
People in different circumstances require different types of support. Estate planning can be as much about comfort during retirement as it is about ensuring that an individual leaves behind a meaningful legacy. Proper estate planning can include Medicaid planning....
When planning your estate in Illinois, you might think you have complete control over who inherits your assets. However, the state's elective share law can significantly impact your plans, especially if you consider disinheriting your spouse. This law aims to protect...
When estate planning, you might focus solely on what happens to your assets after you pass away. However, consider adding a living will to your estate planning toolkit. This vital document could provide guidance and peace of mind during challenging times. What Is a...
Are you concerned about the handling of your assets after you pass? A testamentary trust could be the solution to ensure the fulfillment of your final wishes. What is a testamentary trust? A testamentary trust is an arrangement created within your will that takes...
People in Springfield are trying something new when planning their estates: ethical wills. Unlike traditional wills, which deal with property and other assets, an ethical will shares values, life lessons and personal stories. This concept isn't new – many cultures...
It is a common misconception that only the elderly need estate planning. Even young people need to plan their estates as early as possible. Whether single, married or simply cohabiting with someone, an estate plan ensures you are prepared for any eventualities. Here...