Our Estate Planning Blog
Blended Families and Estate Planning: How to Prevent Accidental Disinheritance As more adults experience divorce later in life and enter into second marriages, blended families
Estate Planning for H-1B Visa Holders: Key Considerations for Legal Residents in Illinois For individuals living in Illinois on an H-1B visa, estate planning presents
Choosing the right storage location for your will ensures that it remains secure, accessible, and legally valid when needed.
Trust disputes among beneficiaries can strain family relationships and jeopardize the integrity of an estate plan. Strategic conflict resolution can protect both the trust’s assets and familial bonds.
Digital assets are now a major cause of problems in settling and distributing estates. You must carefully consider and incorporate your digital life into the estate plan.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Understanding the difference between these two types of trust can be the key to choosing an estate plan that works for you and your family.