Naperville Estate Planning Minute: Just What Is in an Estate Plan?
Unfortunately, death doesn’t just happen to other people. We should all get our affairs in order, so that our loved ones can focus on grieving and moving on once we pass.
Our Estate Planning Blog
Unfortunately, death doesn’t just happen to other people. We should all get our affairs in order, so that our loved ones can focus on grieving and moving on once we pass.
How does step-up basis impact capital gains tax impact an inheritance?
Many states have moved away from taxing assets after people die because of the harm to family businesses and farms. However, a new proposal before state lawmakers would double Illinois’ estate tax.
Medicare is designed to help pay for healthcare costs for seniors once they turn 65. While it covers a number of healthcare expenses, it doesn’t apply to costs associated with long-term care in a nursing home.
Gifting stock to family members may lack the pizzazz of leaving a luxury car adorned with a bow in the driveway, but it’s a gift that can add value to their lives long after most other gifts have been forgotten.
Remember that a will goes through probate, so a husband and wife typically try to avoid it by using joint ownership or beneficiary designations. However, they’re often mistaken by believing the will still controls their estate.
Can an owner of a timeshare will the timeshare back to the timeshare corporation and does the corporation have to accept it?
Even those with thorough estate plans might have neglected to discuss details with potential heirs.
What happens if you inherit your loved one’s home? What if they still have payments to make on their mortgage?
Life insurance is an essential part of estate planning. When you buy life insurance, it’s important to make sure the policy payout will be enough to take care of your loved ones.