When it comes to estate planning, there are a variety of tools available to help individuals and families protect their assets and plan for the future. Two of the most common estate planning documents are wills and living trusts. While they both serv…
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Why Probate a Will Introduction A will is a legal document that allows you to distribute your assets and property after your death. It can also be used for other purposes, such as naming an executor or trustee to oversee the property left behind by t…
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Your last will and testament is one of the most important documents you will ever execute. But while you might think you have a will in place that satisfies your objectives, this may not be the case. There are a number of formalities that must be com…
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Being the personal representative or executor of a loved one’s estate comes with a significant amount of responsibility. Some of the essential duties that must be performed are related to dealing with the decedent’s creditors. Not only must poten…
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A fiduciary relationship is one in which a party owes the other certain obligations based on a high level of trust. While fiduciary duties often arise in business relationships, they are also an inherent part of the estate administration process. Imp…
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The basic types of power of attorney allow an individual to appoint another person to make important decisions for you if you are unable to do so because of illness or disability. These agreements are created under Illinois law and must meet specific…
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If you are considering setting up a trust, it’s critical to select the right trustee to oversee it. A trustee has important obligations and responsibilities when it comes to managing, controlling, and administering a trust. Since trustees are given…
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When you lose a loved one, the grief you are forced to endure can be unbearable. The emotional anguish might be even more overwhelming in the event a dispute arises regarding their final wishes. However, if a testator was not of “sound mind” when…
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Probate is the legal procedure through which a person’s estate is administered after their passing. This process is supervised by a court and makes clear who will inherit the decedent’s assets. Not only is the probate process used to distribute a…
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When someone creates a last will and testament, it must reflect their true wishes. Unfortunately, there can sometimes be dishonest family members or other unscrupulous individuals who might manipulate the person executing the will (the “testator”…
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