When a decedent passes away and leaves real estate to a loved one or heir, the beneficiary will eventually need to find out the property’s fair market value. This is true for a variety of reasons. For example, a beneficiary will need to report any taxable gain or loss on the sale when paying taxes. […]
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As a parent, planning and caring for the well-being of our children takes priority over most things in life. Without question, we want to be sure should anything happen to us, our minor children will be well looked after and that money or property we leave for them will be used wisely for their care. […]
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When a person passes away, his or her will must go through probate. Unfortunately, this can be a costly and time-consuming process. Fortunately, there are some ways to avoid probate, one of which is to create a Transfer on Death Instrument (TODI), which was made possible by the passage of The Illinois Residential Real Property […]
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