Category: Estate Planning Lawyer

What are the Benefits of Having Someone Declared Financially Incompetent?
estate planning
Posted August 16, 2022

It often happens that a loved one gets injured, or sick. As we get older, many diseases can affect us, and our ability to handle the affairs of our daily lives and those diseases can get progressively worse as people age. You may reach the point where you just do not think that your elderly […]

Read More
Are Reverse Mortgages Good Estate Planning Tools?
reverse mortgage
Posted July 11, 2022

You may hear the advertisements on TV: “Get a reverse mortgage!” Reverse mortgages can help you, especially if you are older. But what are reverse mortgages, and can they be used in or do they have any role in estate planning? How Reverse Mortgages Work Normally, when you have a mortgage, you pay the mortgage. […]

Read More
What is the Difference Between an Inheritance Tax and an Estate Tax?
estate tax
Posted June 15, 2022

To many people, estate taxes and inheritance taxes have something to do with someone passing away, but beyond that, the terms seem to be used interchangeably. There is, however, a difference between these two terms, that can be an important part of your estate planning strategies. What is an Estate Tax? An estate tax, as […]

Read More
What to do When You are Left Out of a Will
will
Posted June 13, 2022

There are a lot of reasons why we may expect to be included in someone’s will. But being family or a close friend to the deceased is no guarantee. With the right estate planning tools, anybody can be “disinherited” to some degree. That can leave you left with nothing, even if you expected to be […]

Read More
Reasons You Never Want a Contested Estate
Contested Estates
Posted April 13, 2022

Whenever people discuss or write about estate planning, there seems to be one overriding goal: Avoiding a contested estate. But why is a contested estate something to avoid? Why does it matter if an estate is contested? The Lincolnshire estate planning lawyers at Orlowsky & Wilson can help. Legal and Non-Legal Reasons Some of the […]

Read More
Challenging a Beneficiary in a Will or Estate
beneficiary designation
Posted October 11, 2021

To challenge the beneficiary designation in a will, you must have standing. That is, you have something to gain from the outcome of the case. If you have standing you can challenge the designation within 6 months after the will is filed in probate court. Usually, challengers include: Spouses. Ex-spouses. Family members who are excluded […]

Read More
How to Protect Your Estate in Case of Being Declared Incompetent
mentally incompetent
Posted August 27, 2021

Life is unpredictable, which can make it difficult to plan for the future. When it comes to estate planning, however, there are steps that we can take to help protect ourselves in the event of physical or mental incapacity. To learn more about putting a contingency plan in place to help protect your own interests, […]

Read More
How to Use Life Insurance to Avoid a Contested Estate
contested estate
Posted July 30, 2021

When a person passes away, most of his or her assets will need to go through probate before they can be distributed, even when that individual has a will. There are, however, some exceptions to this rule. Life insurance plans, for instance, do not go through probate. Furthermore, beneficiary designations on these kinds of policies […]

Read More
The Difference Between a Living Will and Last Will and Testament
Chicago estate planning lawyer
Posted June 25, 2021

While their names may be similar, there is actually a significant difference between a standard Last Will and Testament and a living will. The former, for instance, is a legal instrument that dictates how a person’s assets will be utilized and distributed upon his or her death. A living will, on the other hand, contains […]

Read More
How to Prevent Family Disagreements in Contested Estates
Contested Estates
Posted March 03, 2021

Family disagreements in contested estates are extremely common. While there isn’t really any way to guarantee that your estate won’t be contested after your death, there are several steps you can take to help prevent this outcome. For instance, talking about your estate plan openly with your family members can help avoid confusion and disputes […]

Read More