Tag: Naperville estate planning attorney
Getting Divorced? Be Sure to Review Your Estate Plan
Posted on January 8, 2021
If you are going through a divorce, or you feel that a divorce is a strong possibility in the near future, you are probably facing—or are about to be facing—a number of challenges and obstacles. Even in the best situations, it can be very stressful to negotiate the various aspects of a divorce agreement, including the division of marital assets and spousal maintenance. Couples with minor children often have even more to worry about. Once your divorce is finalized, however, it is probably time to take another look at your […]
5 Important Considerations for an End-of-the-Year Estate Plan Review
Posted on December 21, 2020
In addition to opening Christmas presents and toasting the new year, the end of the calendar year is also a time to review your estate plan and create a strategy for reaching your financial goals in 2021. This time of year is a good time to do an estate plan “check-up.” An up-to-date estate plan can ensure that your final wishes are clear, offer peace of mind that your family is taken care of after you have passed, and protect your rights and financial interests. When a person passes away […]
Should I Use Incentive Trusts in My Estate Plan?
Posted on October 29, 2020
As you approach the often-difficult topic of estate planning, it is understandable that you want what is best for your heirs—especially if they are your children or grandchildren. We would like to believe that our descendants will be responsible and mature enough to handle a sizeable inheritance, but deep down, we know that this is not always the case. Some people simply struggle to establish healthy spending habits, and for these people, money tends to burn a hole in their pocket. As an estate planning attorney, I am often asked […]
Understanding Testamentary Capacity
Posted on October 25, 2017
In my practice as an estate planning lawyer, I have helped hundreds of clients draft wills that help provide long-term financial security for their family members and loved ones. I have also assisted a number of beneficiaries and others in contesting wills that they believed did not truly reflect the wishes of the individuals who created them. There are several grounds on which a will contest may be filed in Illinois, and among the most common is the alleged lack of testamentary capacity by a will’s creator. It is important […]
The Rights of Surviving Spouses and Dependent Children
Posted on January 26, 2015
Preparing an estate plan is a wise decision. However, even with a valid estate plan in place, your express wishes might not be carried out. For example, Illinois probate law affords special rights to surviving spouses and minor children that could contravene specific provisions in your will. Electing to Take a Statutory Share The surviving spouse has the right to renounce the decedent’s will in favor of taking a statutory (or elective) share of the decedent’s probate assets. This statutory share amounts to one-third of the estate if there are […]
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