Category: Estate Planning Attorney

Estate planning is a critical process that involves preparing for the transfer of a person’s assets in the event of their death or incapacitation. Utilizing various estate planning tools can provide: Significant protection for one’s assets. Ensuring they are distributed according to the individual’s wishes while minimizing taxes. Legal fees. Potential disputes. In Illinois, as […]

Estate planning is a critical process that allows individuals to ensure their assets are distributed according to their wishes after their passing. However, even with a well-thought-out estate plan, disputes among heirs and beneficiaries can sometimes arise, leading to contested estates. In Illinois, as in other states, there are steps you can take to minimize […]

Inheritance tax in Illinois, a state-level tax, is levied on certain inheritances received by beneficiaries. It’s distinct from other forms of taxation related to death, such as estate tax, and is calculated based on the value of inherited assets. Unlike some states, Illinois has retained its inheritance tax, making it an essential consideration for estate […]

You worked hard for what you have in life. When you pass on, you want your assets, money, and property to be given to your beneficiaries as you see fit. However, without effective estate planning, an estate can be contested. Thus, asset distribution might not go as you wanted, and there could be other problems. […]

Did you win the Powerball or Mega Millions lottery? Will you buy a home, travel the globe, or buy a fleet of cars? You now have the financial freedom to do whatever you like! However, many lottery winners do not take the time to do estate planning after their financial windfall, which costs them. So, […]

It is impossible to please everyone in life and sometimes in death. When a loved one passes away who had a will, it is common for some beneficiaries to be disappointed about its provisions. Maybe someone thought they would get more from the estate or was left out of the will. While these feelings are […]

When you hear ‘estate planning,’ you may think that it is only for older Americans to pass their assets onto their families when they die. However, estate planning has many purposes: protecting families, saving on taxes, securing quality healthcare, and more. Learn about effective estate planning in this article, and if you have questions about […]

If you want to donate to charity or reduce your estate taxes in Illinois, charitable giving is a vital estate planning and financial tool to understand. Learn about charitable giving and reducing estate taxes below, then speak to our estate planning attorneys in Illinois for assistance. Charitable Giving For Reducing Estate Taxes Many estate planning […]

If you are unhappy with a beneficiary designation in an Illinois will, you can contest it, but you must have standing, which means you have something to gain when the case is decided. Learn how to contest a beneficiary designation below, then talk to our Illinois estate planning attorneys for assistance. How To Contest A […]

Many Illinois residents may think that estate planning is only for older people who want to pass on assets to their families after they pass away. However, estate planning is about more than that. Proper estate planning services can be used to reduce taxes, obtain healthcare, and protect the assets of younger families. However, mistakes […]