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Recent blog posts
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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…
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What Are Purchase and Sale Agreements in Real Estate Transactions?
: What Are Purchase and Sale Agreements in Real Estate Transactions?With any residential or commercial real estate deal, it requires a well-structured agreement to protect the interests of all parties. One important document is the Purchase and Sale Agreement (PSA). This legally binding contract outlines the terms and conditions for transferring properties from sellers to buyers. Take a look at all the aspects of Purchase…
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Why You Should Consider Putting Your LLC into a Trust
: Why You Should Consider Putting Your LLC into a TrustMany people turn to LLCs to protect their business and personal assets. From stronger asset protection to simplified estate planning, putting this business entity into a trust can offer plenty of benefits. If you want to secure your finances and businesses, here are a few reasons why you should consider putting your LLC into a…
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Being a caregiver to a senior loved one can be difficult, even when you are next door or across town. But what if you are several time zones away? Trying to provide (or monitor) care from a distance can seem almost impossible. When you are far away, it is difficult to know what to do…
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Placing business assets in a trust can offer many benefits. A trust can help with asset protection, estate planning, and managing the business after an owner’s death. However, trust law can be complicated, and it would be best to seek advice from a qualified professional. Whether you live in Illinois or New York, here are…
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Receiving a windfall, such as a cash settlement or inheritance, can be a life-changing event. However, for individuals who rely on Supplemental Security Income (SSI) and Medicaid benefits, it can also be a cause for concern. Fortunately, a few options can help individuals keep their SSI and Medicaid benefits while benefiting from the extra resources….
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You may think that an irrevocable trust is set in stone and its terms can never be changed. This is not the case. Say Auntie Anne dies leaving the proceeds from her successful pretzel chain business in her trust to her two brothers, Barclay and Clemson, naming her nephew Dusty as her trustee. The trust…
