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RECENT ESTATE PLANNING LEGAL ARTICLE

  • advance-directive-illinois

    What is an advance directive in estate planning?

    What is an advance directive in estate planning? Advance directives are an essential part of estate planning. An advance directive is a document that spells out your wishes for the time period in which you are unable to make your own personal, financial, and health decisions. The time period in which you are incapable of…

  • durable-power-attorney

    What is a durable power of attorney in Illinois?

    What is a durable power of attorney in Illinois? A “Power of Attorney” document grants a person the power to act on behalf of another person. General power of attorney documents are frequently granted for a limited time or purpose. For example, in a real estate transaction, the seller of the property may give his…

  • cohen-estate-planning-legal-terms

    Understanding Estate Planning legal terms

    Understanding Estate Planning legal terms While you are in the process of planning your estate, you will hear certain terms spoken by your estate planning lawyer or see it referenced in legal documentation. When you work with a lawyer you can feel comfortable knowing that he or she will answer your questions and address your…

  • Can-Estate-be-Closed-Lawsuit-Created?

    Can an Estate be closed if a lawsuit has been created?

    Can an Estate be closed if a lawsuit has been created? There isn’t anything that slows down probate more than a pending lawsuit. Probate makes sure that all of the loose ends are tied up in a deceased’s life. If someone creates a lawsuit throughout the proceedings, the estate typically is not able to be…

  • trusts

    Power of attorney – How to sign the document?

    Power of attorney – How to sign the document? A well-crafted Estate Plan includes power of attorney documents that name an agent that can make decisions for you when you are no longer able to. For example, in a “Power of Attorney for Property”, you name an agent who can make decisions regarding your finances….

  • steps for estate planning chicago

    What is the difference between Estate Tax and Inheritance Tax?

    What is the difference between Estate Tax and Inheritance Tax? It is easy to confuse the terms “estate tax” and “inheritance tax”. Most people do not know if these terms are synonyms or if they are actually different types of taxes. The current political discussion over “death taxes” only makes this discussion more confusing. In…

  • What is the Estate Tax?

    Understanding Estate Taxes in Chicago The federal estate tax is a tax on property that passes from a deceased person’s estate to their heirs. This tax affects only the wealthiest families in America. This is because the current law (Tax Year 2017) excludes the first $5.49 million of an estate from estate tax ($10.98 million…

  • 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…

  • Chicago Estate Ligitation

    Chicago Estate Litigation Estate litigation is similar to other types of civil litigation, with several key differences. Specifically, the probate court is governed by the Illinois Probate Act, which has special time limitations relating to the filing of claims or actions. Therefore, it is essential that you retain and attorney who understands the unique rules…

  • 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…