There are situations in which people cannot manage their own affairs. They could end up in a coma after a car crash, for example. In such circumstances, powers of attorney (POAs) can be highly valuable documents. They authorize a trustworthy person to handle financial...
Estate Planning
When was the last time you updated your estate plan?
Creating an estate plan can be time-consuming, but it provides a sense of relief once it’s complete. You know your loved ones will have financial security and your assets will be managed and distributed according to your wishes. However, an estate plan can become...
Do young people need an estate plan?
Making that leap to adulting can be exciting. You’re no longer living under your parents’ roof, and you’re doing adult things such as working, paying rent and buying groceries. The last thing on your mind is creating an estate plan because that seems like something...
What are the essential estate planning documents in Illinois?
Estate planning ensures that your estate can follow your wishes and care for your loved ones in the future. In Illinois, having the proper documents in place is important for making this happen smoothly. There are several key documents you should consider including in...
How can you prevent disputes over wills in blended families?
Blended families often face unique challenges when dividing assets. Without careful planning, disagreements over wills can strain relationships. Fortunately, planning ahead can help families avoid conflicts and protect their loved ones. Discuss wishes openly with...
What are the top benefits of using SLATs in estate planning?
Estate planning involves making strategic decisions to preserve wealth and provide for loved ones. Spousal Lifetime Access Trusts (SLATs) offer unique advantages for couples looking to reduce estate taxes and maintain financial security. Understanding the benefits of...
Best trust options for your estate plan
Creating an estate plan is one of the most important things you can do to protect your assets and provide for your loved ones after you’re gone. Trusts are a valuable tool that can help you manage your assets and ensure your wishes are carried out. With several types...
Recognizing signs of undue influence in an estate plan
When a loved one creates an estate plan, it's meant to reflect their true wishes. However, sometimes others may improperly influence them, leading to unfair distributions. Recognizing signs of undue influence can help protect your loved one's intentions and ensure...
Effectively including cryptocurrency in your estate plan
In today's digital age, many people include cryptocurrency in their financial portfolios. With assets like Bitcoin and Ethereum becoming more common, you should consider how to include digital currencies in your estate plan. Properly managing cryptocurrency ensures...
What is the purpose of a living will?
When discussing wills, we usually refer to legal documents with instructions on distributing assets after a person’s death. However, an estate plan might also include another type of will: a living will. This document indicates end-of-life plans and preferences,...