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
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
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
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
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
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
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
If you are getting together with your family members this holiday season it may not seem like a great time to talk about dying, but actually it is! Hollywood has combined death and holidays for years. Well, truth be told,
A new law takes effect on January 1, 2019, in Illinois, protecting visitation rights for the family members of elderly adults. Before this new law takes effect, guardians have effectively had the unilateral authority over visitation privileges and could prohibit,
The Illinois Power of Attorney Act was recently amended. The Act requires an agent to maintain an accounting of everything the agent does with the assets and the funds over which the agent has control, and the new amendment puts
