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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Most states, including Illinois, have what is referred to as an elective share law, which helps protect a surviving spouse from being disinherited. This is true even if a surviving spouse is actively cut out of a will, as he or she will be permitted to “elect” to take a portion of the estate. How […]
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Most people associate estate planning with protecting their assets, as well as ensuring that loved ones will receive an inheritance. While these are important aspects of estate planning, there are also a number other factors to consider that go into the process, including planning for physical or mental incapacity. Preparing for this eventuality may be […]
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When a person passes away, his or her estate is usually distributed by a probate court. This court-supervised process tends to be expensive and time-consuming, so most people attempt to avoid it by establishing a trust or creating a payable-on-death account. The latter, which are also known as PODs, are set up for a number […]
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