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December 5, 2017
How to Effectively Use Your Estate Plan to Leave Funds to a Minor In a previous post (here), we described the problems associated with just leaving assets to a minor directly. Usually this happens through a will or trust or–more likely–as a designated beneficiary on some kind of investment account. […]
March 2, 2015
Be Careful Making a DIY Estate Plan Doing your estate plan on your own can lead you to lose protections you don’t even know you had. Jake and Laurie were married when they purchased their home in Wheaton. Knowing that they purchased the home as their primary residence, their attorney […]
February 11, 2015
Tenancy by the Entirety Available to Trusts You can still have the protection of tenancy by the entirety even if your home is in a trust. Illinois allows spouses to hold their primary residence by what is called “tenancy by the entirety.” Like joint tenancy, tenancy by the entirety allows […]
February 11, 2015
Illinois Changes the Statutory Power of Attorney for Healthcare The Illinois legislature changed the form Power of Attorney for Healthcare. Effective January 1, 2015, the Short Form Power of Attorney for healthcare has been changed. Among the changes in the law are that no health care provider may act as […]
November 12, 2013
Wills and Powers of Attorney No. 1 Leaving money directly to minors can cause their parents headaches. John was a successful businessman and accumulated roughly $1.2 million after selling his company and retiring. Being an entrepreneur, he liked to do things on his own. He had heard lots of discussion […]
November 6, 2013
Trusts No. 1 Just adding your children to the title on your home could have dire consequences. Mary was a widow with two grown children—Fred and Jane. Her only significant asset was her home, which had no mortgage and was valued at $350,000. Fred lived in Wheaton. Mary had heard […]