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June 2017 Archives

The benefits of an irrevocable trust

Irrevocable trusts are some of the most popular forms of trusts out there today because of the many advantages they provide. These trusts are very easy to create and can be done with the help of an experienced attorney. Here are just a few of the benefits of creating an irrevocable trust in Illinois.

Why you may want to put adult kids' money in a trust

Most parents feel fortunate when they have considerable assets to pass on to their children, either while they're still alive or after they're gone. However, there are some situations where parents may not feel it's wise to give an adult child sole control over a large amount of money.

What are the advantages of charitable trusts?

Illinois residents have a lot of options when it comes to estate planning, giving away some of their money to charity and providing for their families. Charitable trusts offer an incredible amount of options when it comes to charitable contributions that can help you with tax management, saving you and your family money.

A special needs trust can protect your child's future

When you and your spouse decide to have children, you probably hoped to give them the best possible start at life. Sometimes, no matter how careful you are during pregnancy, your child is born with a disability. Cerebral palsy, Down Syndrome and Autism are conditions that will impact your child for the rest of his or her life. With love and support from parents, these children can thrive and have beautiful, productive lives. However, you've probably been worrying for years about what will happen to your child when you and your spouse eventually die. It can be a terrifying prospect.

Trusts can protect assets from creditors

Trusts have many uses throughout the scope of estate planning, both as proactive tools for directing your assets where you want them to go, as well as defensive tools for protecting your assets from unfair taxation or claims by outside parties. Many kinds of trusts can help you protect your assets from creditors or others who believe they have a claim to some or all of your property.

Why Millennials should consider estate planning now

If you are a Millennial, should you have a will in order? Estate planning may seem like something for older folks - something you do not need to consider until you reach at least your 50s or 60s, right? Not so fast. No matter how old you are, if you have assets, you need to have a plan for distributing them after your death. Even something as modest as your personal possessions or smaller bank accounts should be covered under a will. Millennials need wills just as much as boomers or Gen-Xers. Here's how you get started.

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