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RECENT ESTATE PROBATE AND TRUST ADMINISTRATION LEGAL ARTICLE

  • Chicago IL Power of Attorney

    What Happens if I do not have a Power of Attorney for Property?

    What Happens if I do not have a Power of Attorney for Property? A Power of Attorney for Property is one of the most powerful Estate Planning tools available. A Power of Attorney for Property document is useful while an individual is still alive. Unlike a will, the terms of a Power of Attorney for…

  • Grounds for contesting a will in Illinois

    Grounds for contesting a will in Illinois: After a loved one’s death, there is nothing more unsettling than finding out that they left a will which (1) appears to be the product of coercion by some outside individual or (2) was executed after the decedent lost the mental capacity to sign a will. If you…

  • Contesting a Will in Illinois Based on Lack of Capacity:

    Contesting a Will in Illinois Based on Lack of Capacity: Illinois law recognizes that any testator (the person who executed the will) must have sufficient mental capacity to complete his or her will (also known as “testamentary capacity”). Sometimes the testator will execute a will shortly before their death or during a time when they…

  • Council Advisement

    Contesting a Will in Illinois Based on Undue Influence:

    Contesting a Will in Illinois Based on Undue Influence: Illinois law recognizes that individuals may be subject to the undue influence of those around them. When someone is a victim of undue influence, the result is the creation of a will which does not truly reflect their wishes and leaves most or all of their…

  • What is a Fraudulent Transfer in Illinois?

    What is a Fraudulent Transfer in Illinois? The term “fraudulent transfer” refers to a transfer of property which is made for the purpose of deceiving a creditor and inhibiting the creditor from collecting a debt owed. An example of a fraudulent transfer would be the following: Day 1: An individual has $200,000. Day 2: A…

  • Types of Claims against an Illinois Probate Estate

    Types of Claims Against an Illinois Probate Estate A probate claim refers to a claim for money, or other property, that someone has against the estate of a deceased individual. If the individual owed money during his or her life, then that debt remains, and it is the responsibility of the decedent’s estate to pay…

  • Trust Litigation

    What is Probate?

    Get the Facts Straight About Probate The word “probate” often makes people nervous or worried about an extended legal battle. We have all heard stories from family and friends about property being “tied up” in probate. We have often been encouraged to avoid probate by attorneys and financial planners. However, the probate proceeding is simply…

  • trusts

    Tools to Protect Your Loved One Against Elder Abuse

    Tools to Protect Against Elder Abuse We have seen an increase in probate cases of elder abuse involving aging adults who are taken advantage of by people they know, trust, and love. Family members often discover too late that their parents or grandparents have been preyed upon by a caregiver or new “friend.” Senior citizens…

  • Trust Litigation

    Trust Ligitation

    Trust Litigation The role of trustee is a serious undertaking. Once an individual or entity is named as trustee of a certain trust, they owe fiduciary duties of honesty, prudence, and loyalty to the beneficiaries of that trust. When the trustee fails to satisfy any of the duties, the trustee may be held personally liable…

  • Asset Protection Planning

    Asset Protection Planning The goal of an asset protection plan is to protect an individual’s assets from future creditors. The most common type of creditor who poses financial risks comes from a lawsuit or inner-family dispute. A complete asset protection plan considers a client’s entire wealth structure then identifies and resolves potential weaknesses. The solutions…