The Benefits of a Comprehensive Estate Plan

Estate planning can include a few or multiple documents to determine your wishes and the people you want to benefit from your estate. These documents can be personalized to meet your specific needs. Comprehensive estate planning provides significant benefits, but it is only useful if it is legally enforceable. An estate planning attorney is necessary when creating your estate plan. Every plan is different, but understanding the benefits of some of the most common documents can help you understand the use of comprehensive planning. A Last Will and Testament A will is a basic part of a simple or comprehensive

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What Is a Special Needs Trust?

Comprehensive estate planning throughout your life can benefit you and your loved ones. Trusts are an effective way to provide assets to loved ones without your property passing through probate court. Trusts can also be used to provide assets to a loved one without jeopardizing the state benefits they rely on to live. This is a special needs trust. A trust attorney can help you and your loved one create a trust that provides them with the most benefits and protects their interests. Individuals who receive Supplemental Security Income (SSI), Medicaid, and other government benefits programs cannot have more than

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How LGBT+ Couples Can Protect Themselves With Estate Planning

Same-sex couples gained several benefits from marriage equality, but there are still many ways that effective estate planning can protect LGBT+ couples and their families. Not all couples wish to be married, and there are still complicated legal issues for those who are, such as the assumption of parental rights. If you are an LGBT+ couple hoping to protect each other’s rights and the financial and personal interests of your family, you need an experienced estate planning attorney. There are several benefits to estate planning. These include: Providing Your Partner With Important Legal Rights Many LGBT+ couples remain unmarried. Even

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When Will My Estate Avoid Probate Court?

Probate court is the process by which the state inventories, administers, and distributes the estate of a deceased person. An estate planning attorney can advise you on how to help your loved ones avoid this process. There are many reasons why you may want to avoid probate. Probate is a lengthy process for your loved ones to undertake so soon after your death, and it can last months or even years. Probate also costs your heirs and beneficiaries a lot in court and attorney fees, which can cut into the benefits you hoped to leave for them. However, not all

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How Do You Pick an Executor?

An executor is the personal representative of a person’s estate, named in their last will and testament. Whether you are creating a basic estate plan or a more involved estate plan, you will likely be naming a personal representative for your estate. This is a very important decision that should not be taken lightly. An estate planning attorney can help you look over your options for an executor and determine who can take on this responsibility. It’s important to not think of an executor as a ceremonial position. An executor must be able to File for probate. Review and understand

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What Are the Responsibilities of a Trustee?

When you create a comprehensive estate plan, it is likely to include one or multiple trusts. A trust is an incredibly useful document in estate planning because it prevents the assets listed in it from falling under state jurisdiction after your death. Instead, the trust and its assets become the responsibility of the trustee. You should understand the importance of selecting a trustworthy and responsible trustee. A trust attorney can help you select the right person to act as the trustee for your estate plan. Naming someone a trustee is a big decision. This person, whether they are a family

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Strategies For Family Law Illinois

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