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When deciding between a will and a trust, it’s best to have a clear understanding and know the differences between the two. A trust is a legal document where a third party or trustee is authorized to manage the assets that are held in the trust. The trustee makes sure the correct heirs gain the…
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Does My Estate Qualify for a Small Estate Affidavit in Illinois?
: Does My Estate Qualify for a Small Estate Affidavit in Illinois?
Are you wondering what a Small Estate Affidavit is? It’s a legal document that speeds up the asset distribution process when someone dies with a small estate. In Illinois, the term “small estate” usually refers to estates with assets totaling up to $100,000 or less, and there is no real estate involved. This mechanism allows…
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The Differences Between Revocable and Irrevocable Trusts in Illinois
: The Differences Between Revocable and Irrevocable Trusts in Illinois
When it comes time to plan your estate, it is more than just drafting a will or deciding who gets your personal belongings. You need a strategy that helps manage your assets, avoids unnecessary legal complications, and protects your wealth. One of the most effective ways to do this is through a trust. But not…
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A will is supposed to bring clarity and peace of mind after a person passes away. But sometimes, the process doesn’t go as smoothly as intended. In Illinois, a will can be contested if certain concerns arise about its validity or fairness. These disputes can lead to drawn-out court proceedings and strain family relationships. Understanding…
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Estate planning often brings up tough questions. How do you protect your loved ones? What happens to your assets after you pass? In Illinois, one tool that many families consider is the revocable living trust. While this type of trust offers some clear advantages, it’s not the right fit for everyone. If you’re considering a…
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The Illinois Probate Process: What Families Should Know
: The Illinois Probate Process: What Families Should Know
The passing of a loved one is always an emotional time. On top of the grief, families are often faced with a series of legal steps that must be taken to handle the person’s estate. In Illinois, that process is known as probate. While the word itself might sound complicated, understanding what probate means, and…
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After the loss of a loved one, many families are left with questions, both emotional and legal. One of the most common concerns we hear is about timing: “How long will this probate process take?” The answer isn’t always straightforward. In Illinois, probate can move quickly in some cases, while in others, it can take…
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What to Do If a Will Is Missing or Invalid in Illinois
: What to Do If a Will Is Missing or Invalid in Illinois
When someone passes away in Illinois, their will typically outlines how their estate should be distributed. However, there are instances when a will is missing, or the validity of the will is questioned. If you are in a situation where a will cannot be located or is believed to be invalid, it is crucial to…
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When a person passes away in Illinois, their estate may need to go through probate, a legal process where the court oversees the distribution of assets to heirs and beneficiaries. However, not all assets are subject to probate. Understanding which assets must go through this process can help families plan effectively and avoid unnecessary delays….