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Recent blog posts
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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…
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Blended families are those formed through remarriage, adoption, or cohabitation. They face unique challenges when it comes to estate planning. In Illinois, ensuring that your spouse, children, stepchildren, and other loved ones are protected requires careful legal strategy. Without a comprehensive estate plan, your assets may not be distributed according to your wishes, potentially leading…
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Illinois Probate Deadlines: What Heirs Should Know
: Illinois Probate Deadlines: What Heirs Should KnowWhen a loved one passes away in Illinois, the probate process can feel overwhelming. This is especially true for heirs unfamiliar with legal timelines and obligations. Understanding key probate deadlines is essential to protect your inheritance rights, avoid unnecessary delays, and ensure the estate is administered properly. The estate planning attorneys at Bielski Chapman, Ltd….
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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 IllinoisWhen 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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The Probate Process for Business Owners in Illinois
: The Probate Process for Business Owners in IllinoisWhen you’re a business owner, estate planning isn’t just about what happens to your home or personal belongings after you pass. It’s also about what happens to the company you’ve worked hard to build. One crucial piece of this puzzle is understanding how probate works, especially in Illinois, where the legal landscape can be complex….
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Spring Cleaning Your Estate Plan: What to Review Each Year
: Spring Cleaning Your Estate Plan: What to Review Each YearSpring is a time for fresh starts and clean slates. As you dust off your shelves and organize your closets, consider taking a closer look at your estate plan. Just like your home, your estate plan needs regular attention to stay in order. A plan that worked a year ago might not reflect your current…
