What Happens If An Estate Is Not Closed In A Timely Manner? In Illinois, If an estate is not properly probated and closed in a short period of time, there are a number of possible consequences that could jeopardize the estate. For starters, the statute of limitations for creditors’ claims is extended, giving them more […]
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Many people assume that estate taxes and probate courts are the biggest threats that decedents and heirs alike face when it comes to the proper administration of an estate. While it is true that the probate process can make it more difficult and more time-consuming for heirs to collect their inheritances and estate taxes can […]
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Many Illinois residents who have children or other relatives with disabilities choose to create third-party special needs trusts for those individuals, which ensures that they will have the means to cover certain expenses. However, creating this type of trust can disqualify disabled individuals from need-based government assistance. Fortunately, when trusts are set up correctly, disabled […]
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Planning your estate is one of the best ways to ensure that your assets and property will go to those who can use it them the most, whether or not they are relatives, friends, or even charitable organizations. While this could involve including bequests in a will, it is not the only method of estate […]
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