With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is
Lauren Jackson Law Blog
The Lauren Jackson Law Blog, published by The Law Offices of Lauren E. Jackson, focuses on legal issues related to real estate and estate planning. It covers topics such as residential and commercial real estate transactions, estate planning strategies including wills and trusts, probate processes, and business succession planning. The blog also addresses practical concerns like digital estate planning, asset protection through LLCs, and contract review in real estate deals. It aims to provide clear guidance on managing property-related legal matters, estate administration, and protecting assets for individuals and families in Illinois.
Latest from Lauren Jackson Law Blog - Page 8
Thirteen Estate Planning Terms You Need to Know
Estate planning—it is an incredibly important tool, not just for the uber-wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including…
What is the Medicaid look-back period?
A popular question that I answer a lot for my estate planning clients is what is the Medicaid look-back period for assets? When clients realize they might be eligible for Medicaid, they start their estate planning with that in mind. …
Term life insurance or Whole life insurance, which one is best?
One question that I continually hear from clients, friends, and family is what type of life insurance should I get? First off, let’s acknowledge that I am not an insurance salesperson and I do not and have never sold insurance. …
How should you list beneficiaries on your financial accounts?
When I’m talking with my clients about how often to review their estate planning documents, I always recommend they review all financial accounts; how they are titled and who are the listed beneficiaries. A good habit to get into…
Take Your Power Back from COVID-19: Estate Planning Steps to Protect Yourself and Your Loved Ones
News about the coronavirus is everywhere, and we have all been affected by it in some way, even if we are currently completely healthy. Although it may seem as though circumstances are spinning beyond our control, we are not powerless.…
Can you cancel a real estate contract once signed?
Life is good and you believe you have found your forever home. However, what happens if you signed a contract to purchase that home and you changed your mind? Is there a way to cancel a real estate contract without…
To Halve or to Hold? Joint vs Separate Trust Planning for Married Couples
Revocable living trusts are the most popular estate planning tool for married couples in my law practice. They can be extremely useful for incapacity planning, probate avoidance, asset protection, and privacy. Depending on the married couple’s goals and circumstances, when…
What is a gun trust and how does it work?
If you are a legal gun owner, there are certain steps you
must take in order to legally transfer your gun ownership to the person of your
choosing. One common way to accomplish
this is by setting up a gun…
Newlyweds and the Uncomfortable Conversation of Estate Planning
Marriage is among the life-changing events that should cause one to review, or establish, one’s estate plan. Unfortunately, newlyweds do not make their way into my office very often. I understand how happy of time it is, but this…