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Estate Planning Archives

Your estate plan should be as unique as you are

Estate planning is a big deal for everyone, including people who have considerable wealth and those who don't. If you don't have an estate plan together, we can help you determine what you need to get started. This isn't a process that has to be very difficult to work through. Instead, you can make decisions about everything as we discuss your wishes.

Military family estate planning: Electing guardians

Military families have a lot to think about when it comes to estate planning. Being mobile and not having a stable home to call your own may change your priority on protecting tangible property and physical assets. However, that doesn't mean that estate planning should be completely neglected for military personnel. If your family includes children, it may be more important than ever.

Military life means you need to stay on top of estate planning

The military life is a dangerous one, especially when you consider all of the turbulent matters that are going on around the world right now. For men and women who have signed up to protect our country, it is all too easy to forget to protect themselves.

Charitable trusts provide tax benefits, flexibility and control

Establishing charitable trusts provides Illinois residents with a number of significant benefits. Charitable trusts can be important components of tax management and estate planning strategies, and they allow people to fulfill their philanthropic objectives while providing them with flexibility and control. Trusts can be set up to make charitable donations in the form of lump sums or income streams, and people are able to determine how and when these payments will be made.

Ways to provide for special needs children

Illinois parents of special needs children face challenges that others are not required to deal with. Among the biggest issues tied to raising a special needs child is finance. Parents are put in a position where they must not only provide for specialized treatment and care during their lives, but they must also plan to provide for their child after they're gone.

Estate planning considerations for same-sex couples

Same-sex couples or people who have been in same-sex marriages in Illinois may have certain concerns in estate planning. While same-sex marriage has been legal nationwide since 2015, the variations in state law prior to that point created some uncertainties. People who married in a state in which gay marriage was legal prior to 2015 and moved to a state where it was not may not have bothered with a divorce and may not realize they are married. Furthermore, some states converted domestic partnerships to marriages.

The importance of succession planning for farmers

Illinois residents may be interested to know that 97 percent of all farms are family owned, according to the United States Department of Agriculture. However, there are many challenges that may result when family members choose to pursue other fields, such as volatile commodity prices, tougher lending standards and increased regulation.

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