Category: Estate Planning Lawyer

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, […]

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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 […]

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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 […]

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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 […]

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What is the Difference Between a Will and a Trust?
Estate Planning
Posted February 18, 2021

Wills and Trusts One of the best ways that we can help protect our assets and provide for loved ones is to create a will or trust. The former is a legally enforceable document in which individuals can state how they want their assets to be distributed upon their deaths. Trusts, on the other hand, […]

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How Simple Wills Can Lead to Contested Estates
Contested Estates in Chicago
Posted January 20, 2021

For most of us, choosing the simpler route is usually preferable to engaging in a time-consuming or complex process. However, this does not always translate to the estate planning process, where planning a simple estate may be easier in the short-term but cause more problems later. To learn more about the ins and outs of […]

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Proper Estate Planning to Pass Assets Tax Free
Chicago Estate Planning
Posted January 06, 2021

While taxes may be the last thing on your mind when planning your estate, the reality is the repercussions of certain bequests can have significant tax-related repercussions down the road. One of the best ways to avoid a surprise come tax time is to speak with Alan G. Orlowsky, an experienced Chicago estate planning lawyer […]

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Removing an Executor from an Estate
Executor of an Estate
Posted December 23, 2020

When a person passes away with a will in place, his/her assets will be distributed according to that estate plan. However, administering these bequests does require the help of an executor, who is also usually named in the will. While these individuals owe a fiduciary duty to the beneficiaries of the estate they administer, an […]

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Accounting Income Taxes in Your Estate Plan
Chicago Estate Planning
Posted December 09, 2020

The estate planning process is complex. It involves more than just deciding which heirs or beneficiaries will receive a person’s assets. Testators will need to grapple with complicated tax-related issues when planning their estates, including how to save their loved one’s from paying excessive income and transfer taxes upon inheritance. While this was often more […]

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Avoiding a Freeze on Your Bank Account
Estate Planning Attorney
Posted October 07, 2020

The death of a beloved relative is one of the most difficult ordeals a person can go through. While it is true nothing can prepare a person for such a loss, taking certain steps ahead of time can help ease some of the financial burden shouldered by those left behind. Are Joint Bank Accounts Frozen […]

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