Category: Estate Planning

When is the Right Time to Look at Your Estate Plan? Provided By: Alan G. Orlowsky Creating an up-to-date estate plan is a lot like changing the oil in our cars: we realize and understand that both are necessary but we often procrastinate in actually doing them. But just as failing to change the oil […]

Illinois Adopts New Power of Attorney Laws Provided By Alan G. Orlowsky Illinois Adopts new Power of Attorney Laws and one of the most important documents in estate planning is the power of attorney for healthcare decisions, otherwise known as a healthcare proxy. This document allows you to name a person who will make medical […]

Choosing Trustees for Your Estate Plan Provided By: Alan G. Orlowsky Choosing Trustees for your estate plan should not be taken lightly. Good Trustees are actually hard to find. When Choosing Trustee for your estate plan it should be someone who is honest and trustworthy, because they will have a lot of power under your […]

An Unfunded Estate Plan is Like an Empty Bucket By: Alan G. Orlowsky When it comes to estate planning in Illinois, you will often hear the phrase “title equals result.” The phrase means that the ultimate results of an estate plan will depend on how each asset in the estate is titled. If something is […]

Wealth Transfer Strategies for Minors By Alan G. Orlowsky A favorite practice for many grandparents is making financial gifts to grandchildren or even great-grandchildren to help provide future educational expenses. Most grandparents, however, know better than to simply hand cash to the grand kids. They understand that the money would probably go to video games, […]

Maintaining Control of Your Business Through Estate Planning By Alan G. Orlowsky In estate planning, there is more to do with a family business than simply create a succession plan. In fact, in some cases, over-planning a business succession can lead to younger generations or others taking control of the business way before an owner […]

Many people who are considering or have begun to draft an estate plan do not realize that Illinois and the federal government have different taxes for estates and gifts. This issue has caught many families unaware and the resulting tax bill can come at a major cost to heirs. It is important to understand the […]

Let’s Talk about…….Baby Boomers: Do your parents have an Estate Plan? By Alan Orlowsky Baby Boomer Joe McGill (not his real name) loved his parents, and when they died, Joe and his sister grieved. The fact that his parents left their estate in a chaotic mess didn’t diminish Joe’s affection for them, but it did […]

Let’s Talk about……..Being concerned with your current Estate Plan or your Parents. By: Alan Orlowsky Below is a video showing some of the concerns Orlowsky & Wilson can help with. For a full list of services please visit us at www.orlowskywilson.com If you have questions about this post or about a particular legal situation, please […]