The new Illinois Trust Code, which became effective on January 1st, 2020, impacts how trusts are administered in Illinois. Join us for an overview of what these changes may mean for your estate plan as well as your trustees and…
It may seem confusing when attorneys start listing the important estate planning documents you should have, but there’s an easy way to remember what you need and when… 3 by 23 and 5 by 55. 3 x 23 Did you…
Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a…
Linda Strohschein, your local Certified Elder Law Attorney, will meet with you to create strategy and offer resources to avoid problems that drag out your estate administration and cost money and create headaches for your heirs. Call us today at 630-377-3241
Increasingly, several generations of American families are living together. According to a Pew Research Center analysis of U.S. Census data, more than 50 million Americans, or almost 17 percent of the population, live in households containing two adult generations. These multi-generational living arrangements present legal and financial challenges around home ownership.
You are never too young for a Will. A will is a document that lets you tell the world who you want to get your assets. Die without one, and the state decides who gets what, without regard to your wishes or your heirs’ needs.
Clients often ask me whether they need a Will or not. Although the answer is different for everyone, I am a strong believer that not everyone needs a Will or even a Trust.
When clients come to my office to prepare an estate plan, we will meet initially to create the strategy and determine what the client wants in their plan, whom they want to provide benefit for and how.
Estate planning is primarily about how to pass your property on after your death to the recipients of your estate with a minimum of fuss, expense and taxes. But, it is about a lot more as well.
Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan; however, estate planning is for everyone, regardless of age or net worth.