Anyone who is thinking about estate planning thinks (or should be thinking) about probate. Probate is the term that generally describes the administration of an estate of a deceased person. Probate is also the process for administrating the estate of
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How to Handle Gifts or Loans to Children in a Will or Trust
Most people help their children when their children need help, even when they are adults. Sometimes that means making “loans” to them. You should think about how to handle gifts or loans to children in a Will or Trust. Your…
The Difference Between Irrevocable Trusts and Revocable Trusts
Trusts are very robust and handy estate planning tools. If you are not familiar with trusts, perhaps you should read some articles that explain what trusts are (See Trusts Compared to Corporations; The Benefits of Living Trusts; and Avoiding Probate…
The Difference Between Irrevocable Trusts and Revocable Trusts
Trusts are very robust and handy estate planning tools. If you are not familiar with trusts, perhaps you should read some articles that explain what trusts are (See Trusts Compared to Corporations; The Benefits of Living Trusts; and…
Drendel & Jansons Law Group Launches New Approach to Resolving Family Law Disputes
The New Illinois Trust Code – Accounting
Some significant changes affecting trusts have come to Illinois with the New Year. Effective January 1, 2020, the Illinois Trust Code replaced the Illinois Trusts and Trustees Act. One of the biggest areas of change involves the duty of a…
This Is Why Some Parents Never Worry About Money
It’s no secret that having a family isn’t cheap. Expenses increase with each addition, and things you never thought were needed in your home suddenly become a necessity. The moment you realize you’re about to become a parent, you can…
This Is Why Some Parents Never Worry About Money
The Dangerous Rocks under the Waters of Joint Bank Accounts
I’ve seen it time and time again. A client comes in who has added a son, or a daughter, or a grandchild, or a niece or nephew, or someone else to the client’s bank account… or that is the client’s…
Getting the Pieces of Your Estate Planning in Place
Fear of Estate Planning, as in doing a Will or Trust (or both) is a common malady. Everyone knows they should do something, but few people know exactly what that something is they should be doing. Fear of the unknown…