Estate Planning

In Illinois, estate planning with real estate often involves transferring real estate assets into a trust. This can be done to reduce the taxes due on the estate, to better control the probate process and for other reasons. Trusts are an important tool for managing...

You might think it's complicated to transfer property into a trust in Illinois. Fortunately, it is easier than you might assume. With that in mind, here are the three steps needed to transfer real estate into a trust. Getting a hold of the original real estate deed If...

Residents of Illinois should make estate planning one of their biggest priorities for the future. Preparing a power of attorney is an important aspect of doing that. There are certain characteristics to look for when choosing an agent. The importance of having a power...

There are many different ways that you can choose to establish your trust in Illinois. Two of the most common methods will be to establish a revocable or irrevocable trust. Both of these types of estate plans offer a distinct set of pros as well as cons. It may...

Illinois has laws around how to create a will. If you don't follow the correct procedure, then the court may deem your will invalid after your death and follow intestacy law to distribute your estate. Witnesses You need two witnesses to observe you sign or acknowledge...

If you’re an Illinois resident looking to protect your assets or secure them for your beneficiaries, you may want to consider creating a trust. A trust is an arrangement that helps you direct the use of your assets after your death or incapacity and has many other...

People in Illinois may want to work with an attorney to create an estate plan instead of relying on do-it-yourself plans. Do-it-yourself solutions may not fit every situation. Working with an attorney may decrease the likelihood of errors. If you do an estate plan on...

Leaving a will and an estate plan is the best way to protect your assets in Illinois. You can also use this opportunity to set up a fund for your designated beneficiaries. The person whom you appoint as trustee will carry out your wishes in this regard. There are two...

Many Illinois residents are in their second marriages, which means they might have stepchildren. It’s important to use these estate planning tips to protect your blended family. Create a trust Creating a revocable living trust is a good way to hold assets and property...

We all know that having an estate plan is important in Illinois. However, there are a number of common mistakes that people make when they are putting together their plans. Not having a will A will is one of the most important documents in an estate plan. It allows...