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Recent blog posts
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Asset protection is often perceived as a concern for the wealthy or the elderly, but young adults in Illinois also have significant reasons to consider safeguarding their assets. Whether you’re just starting your career, building savings, or investing in your first home, understanding how to protect your assets can provide financial security and peace of…
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The loss of a loved one is a difficult time, and on top of emotional burdens, there are often legal matters to address. In Illinois, probate is the court process that oversees the administration of an estate, ensuring debts are settled and assets are distributed according to the deceased’s wishes (or by state law if…
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After a person passes away, there are situations where their estate will enter into probate. During this time, the court will administer and distribute the deceased’s assets and pay off any debts. While it is often necessary, probate can be a costly and time-consuming process. However, there are strategies you can use to reduce these…
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After someone passes away, their estate may end up in probate. Generally, this process involves ensuring that the deceased individual’s will is valid. The court will also identify and distribute their property to the person’s heirs. Many people want to avoid these proceedings because they are lengthy and costly. Is probate required in Illinois? Here…
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With the upcoming family celebrations, it may be an excellent time to discuss your plans for the next year and beyond, especially those involving your estate. Holidays are full of celebrating and spending time with loved ones. What better gift can you give than securing their future? Here are a few tips if you want…
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The Importance of Estate Planning Over the Holidays
: The Importance of Estate Planning Over the Holidays
The holiday season is a time for fun, festivities, and family time. During the merriment, you may not think about estate planning. But bringing the family together is the ideal time to discuss these issues. You can outline your wishes and have peace of mind in the process. Here is what you need to know…
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How Do I Create a Succession Plan for a Small Business?
: How Do I Create a Succession Plan for a Small Business?
If you want to make sure your business is sustainable for the future, you need to have a succession plan. A succession plan outlines who will take over your business when you retire, become incapacitated, or pass away. Creating these plans can reduce any issues when it comes to transitioning leadership in a company. Here…
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What Is the Difference Between Estate Planning and Business Succession Planning?
: What Is the Difference Between Estate Planning and Business Succession Planning?
At first, estate planning and a business succession plan might seem the same. However, they are two different processes that help ensure a smooth transition of assets and delegation of responsibilities. These plans help with the transfer of wealth in a person’s personal and professional life. If you want to know the difference between estate…
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The death of a business owner can have far-reaching consequences, affecting the personal lives of their family and loved ones and the business’s future. When a business owner dies, the remaining family members or partners must consider the company’s legal, financial, and operational aspects. Learn about the steps to take once a business owner passes…