Give us a call (312) 626-2537

RECENT ESTATE PROBATE AND TRUST ADMINISTRATION LEGAL ARTICLE

  • 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…

  • Trusts

    What is a Trust and Do I need one? Hays Firm LLC drafts trusts for clients including young families with small children, business owners, and retired individuals. For each client, we walk through the complete estate planning process which begins by analyzing the client’s financial circumstances and goals. We then educate our clients about the…

  • Council Advisement

    Wills

    What Is A Will And Why Do I Need One? A Will is the written declaration of a person’s intentions regarding what will happen to their property upon their death. A Will governs and distributes only probate property. It does not have any effect on non-probate property such as life insurance policies, retirement accounts and…