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Recent blog posts
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While allowed, it can be tricky to sell a house during Illinois probate. During probate, you are wrapping up a person’s life and dealing with the things they owned. This means selling assets, paying debts, and much more. When real estate is part of it, it can be even more complex. Yes, you can sell…
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Today, cryptocurrency and other digital assets are often a key part of your net worth. Whether you started mining bitcoin when it started or have invested well in NFTs, you want to ensure they are passed down to your next generation. The thing is, digital assets require a little extra attention as compared to typical…
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How to Use LLCs and Trusts Together for Asset Protection in Illinois
: How to Use LLCs and Trusts Together for Asset Protection in IllinoisAsset protection is a critical component of estate planning and business strategy. This is especially true in Illinois, where litigation risks, creditor claims, and probate exposure can threaten your financial legacy. By combining Limited Liability Companies (LLCs) with trusts, individuals and families can create a layered defense that protects real estate, business interests, and personal…
All blog posts
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One issue that we come across frequently is a deed that has been sitting in a deceased parent’s name for years, and finally a child is ready to sell the property, but doesn’t have the authority to sell because their name is not on the deed. One way to go about selling the property is…
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The first time I heard the word “probate” was after I had finished law school and passed the bar exam. If you are lucky, the probate process is a foreign concept to you. But most people come across it at some point in their lifetime, and we are here to demystify what exactly probate is. …
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There are two types of estate planning: will-based planning and trust-based planning. Our office only does trust-based planning. While a Last Will and Testament will direct your executor how to distribute your property, your executor will be required to go to probate court to collect and distribute your property, opening up your estate to the…
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Folks often believe that only the wealthy need a will or a trust. As a matter of fact, having an estate plan is not only about passing wealth on to future generations or avoiding taxes. People Who Need an Estate Plan Estate planning has numerous benefits for all of the following groups. If you fall…
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What do you do when you’ve lost a trust? You go back to basics: the elements of a trust, and when all else fails, probate! A Short Story About a Client Who Lost a Trust We had a case where a client’s mother (let’s call the mother Betty Smith) had deeded her home into trust…
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When my dad was diagnosed with Parkinson’s, my parents were living in my childhood home in Wilmette, and they had a modest life savings. In the course of sharing my dad’s diagnosis with friends and family, one thing they kept hearing was how expensive Long Term Care would be; the cost could completely drain their…
