Estate Planning

/Estate Planning

Selling an Inherited Home: The Stress-Free Guide

By | April 12th, 2019|Estate Planning, Probate|

Inheriting a house from a loved one can be a wonderful gift or a challenging inconvenience. Depending on your individual circumstances you basically have three choices on what you can do with the home: move into it, rent it out, or sell it. Many times, families will move into an inherited home and sell their own properties that they’ve been living in. In other cases, those who inherit a home will either rent the property out as an income property, or they hold an estate sale to sell off unneeded items, then sell the property itself. If you’re planning on [...]

How to File a Power of Attorney for Property Reasons in the State of Illinois

By | November 22nd, 2018|Estate Planning|

Whether or not you are facing an incapacitating health issue, you may consider obtaining a power of attorney for your property and assets. A power of attorney for property is a document that grants people the legal ability to make decisions regarding your assets and properties. If you are seeking to file this type of power of attorney, there are several important factors you must consider in order to ensure that your documents are valid for when they need to be. This article will discuss essential elements to understand when filing for a power of attorney for your property.   [...]

How to File a Power of Attorney for Health Care in the State of Illinois

By | October 14th, 2018|Estate Planning|

If you are facing a debilitating health issue, you may consider obtaining a power of attorney for health care. A power of attorney for health care is a document that grants people the legal ability to make health care related decisions on your behalf. In order to petition for a power of attorney for health care purposes, the following elements should be considered: The appropriate power of attorney for health care form should be filled out. In the State of Illinois, there are two types of power of attorney forms available. One form concerns property and assets. The second type [...]

Aretha Franklin Dies Without a Will or Living Trust, $80M at Stake

By | August 23rd, 2018|Estate Planning, Probate|

Legendary singer and performer Aretha Franklin died on August 16, 2018, leaving behind a legacy of thousands of performances, and countless chart topping Jazz and R&B hits. What did she not leave behind? A will or living trust. When someone passes away without a will or living trust, they die “intestate”. This means that there are no official documents that instruct Franklin's heirs on how to distribute her assets. A recent Gallup poll suggests that only 44% of Americans actually have a will, which leaves the vast majority of people’s children responsible to dispose of their property when they die [...]

Obtaining a Power of Attorney for Health Care in the State of Illinois

By | June 9th, 2018|Estate Planning, Wills & Trusts|

If you reside in the State of Illinois and are looking to obtain a power of attorney, you should know that there are two basic types of forms available. The first one is a power of attorney that will grant power to a person concerning your property and/or assets. The second one, which concerns health care, will be addressed in this article. (755 ILCS 45/) Illinois Power of Attorney Act "Sec. 2-1. Purpose. The General Assembly recognizes that each individual has the right to appoint an agent to make property, financial, personal, and health care decisions for the individual but [...]

Qualifying for a Court-Ordered Guardianship in Illinois

By | May 21st, 2018|Estate Planning, Guardianship|

A guardianship can be important for people to obtain for many reasons. A guardianship is necessary when a person in Illinois needs to manage the affairs of another individual who is typically referred to as a ward. Through this process, the overseer will be appointed by the Probate Court. The overseer can be an individual, an institution, or even an agency. This article will cover important factors to consider when deciding if seeking a guardianship is the right process for you. Who Would Typically Qualify for a Guardianship? The law in the State of Illinois will generally presume that individuals [...]

Drafting a Will in the State of Illinois

By | April 12th, 2018|Estate Planning, Probate, Probate Law|

A will is commonly referred to as a "last will and testament" in many regions, including Illinois. A will can help you to protect your family, other survivors, and even your property in the aftermath of your passing. You can draft a will in order to: Give your property to a specific person or even to an organization, In order to name a guardian to look after your children, To name an individual to be held responsible for the assets you have left for your minor children, or To name a responsible person who will ensure that your last wishes [...]