Blog

  • Discover 2 ways the law can nullify your estate plan—after you die
    - Discover 2 ways the law can nullify your estate plan—after you die In America, there is no right to inherit. You can leave your wealth to whomever you want—even if you exclude your immediate family. However, when it comes to
  • Greg’s Estate Takes: Special Tax Alert
    - Certain deductions will be limited or abolished in 2018 under the new Federal tax law. So it may be to your advantage to pre-pay your real estate taxes this year so you can claim the payment as a deduction on
  • What happens to the decedent’s debts?
    - I am often asked, what about the debts of the decedent? Does death wipe the slate clean? After all, the heirs are not the debtor. The debts of the decedent are enforceable against the estate, if there is a probate.
  • Selling property from a trust
    - People are often apprehensive about putting their home or other property in a trust. It is a mystery to them. They ask, “Since the property is no longer in my name, how do I sell it? What happens to the
  • DEATH IS FULL OF SURPRISES
    - But it shouldn’t be. Even a well-planned estate can collapse into confusion, family acrimony, and litigation if a few simple rules are followed. These are thing you can do now to make sure your estate plan will work out as
  • Top 5 Mistakes to Avoid When a Loved One Dies
    - Regardless of whether or not you are the estate representative, it is prudent to avoid these mistakes for your peace of mind. Failure to protect estate property: Personal property: Don’t just lock the doors. Change the locks and video each
  • Is a living trust the only way to avoid probate?
    - No. There are numerous ways to do so. For example you can name a beneficiary of your life insurance policy, retirement plan, or annuity. In fact, in Illinois, you can name a beneficiary of practically anything. You can name a
  • Is the will I signed about 17 years ago still valid, even though I have since divorced and remarried?
    - Yes, it is—and therein lays the problem. Seventeen years is a long time to go without updating an estate plan even if you were still married to him. I highly recommend seeing an attorney to review your estate plan for
  • Why you should never put your assets in joint tenancy
    - The appeal of joint tenancy with right of survivorship is that when you die, the surviving joint tenant will automatically inherit the house or bank account, thus avoiding probate. You figure that your kids are on title only so they
  • Do Living Trusts protect your assets from your creditors?
    - The short answer is “No.” If you get sued and a judgment is entered against you the creditor can reach the assets in your living trust just as easily as if the assets were in your name only. However, it