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Estate Planning
How often should adults review and update their estate plans?
An estate plan can designate beneficiaries for personal property. It gives the testator an opportunity to choose the personal representative who carries out their last wishes. If they have children, they can name a guardian to take care of their children after a...
2 ways to update your estate plan
If you do not yet have an estate plan, creating one can be very beneficial. But even if you’ve already drafted a plan, don’t fall into the trap of thinking that the work is entirely done. An estate plan isn’t something you create and then forget about. From time to...
How could an irrevocable trust improve your Illinois estate plan?
You may know that one or more trusts can strengthen your existing estate plan, but what kind of trusts do you need? Many assume a revocable trust is always the better option due to its flexibility. However, this is not always the case. Sometimes, an irrevocable trust...
Who looks after your children if you die?
As a parent, the last thing you want to think about is passing away before your children have grown up. Nonetheless, it’s important to cover every angle so that your children are always guaranteed the best possible upbringing. One thing you can do is name guardians...
Why couples should opt for reciprocal wills when estate planning
When planning for the future, a key consideration for married couples involves helping to ensure that their estate is passed on according to their wishes. While there are many options for estate planning, one of the most straightforward solutions for couples is...
Exploring alternatives to a full adult guardianship in Illinois
When an elderly or vulnerable adult begins struggling with daily tasks and financial decisions, family members often seek ways to protect them. In some situations, full adult guardianship may be the safest option. Still, considering possible alternatives is never a...
A will may be contested in the following circumstances
A will is generally the starting point of any estate plan. It’s a legal document that outlines how your assets should be distributed upon your death. It can also include terms regarding your chosen guardians. These are individuals tasked with looking after your...
Why young, successful professionals need an estate plan
Estate planning may seem like something that parents or older adults worry about because they are statistically more likely to need them than young people are. Young professionals who have achieved success in their careers may not see the value of creating an estate...
Don’t put off special needs estate planning
Many people put off estate planning. In fact, the majority of Americans have yet to craft their own estate plans. Many of them say they will do it in the future. The issue isn’t that they do not want an estate plan, but just that they are procrastinating. This is a...