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July 2017 Archives

Could you benefit from a charitable remainder trust?

Nobody likes to pay taxes, and that's why -- when there's a tax advantage you can take -- you'll probably pursue any financial break you can get. Charitable remainder trusts are very popular in this regard. They are tax-exempt trusts designed to lower your taxable income.

Basic concepts in real estate valuation

When a loved one or close family member passes away and leaves behind a piece of real estate, it's not always bequeathed to one individual. Sometimes, however, one family member will want to keep it and chooses to compensate the other family members for their ownership share in the property. In order to do this, the value for the property must be known.

A well-crafted prenuptial agreement can protect your assets

When you're newly engaged, you probably want to focus on all your hopes for the future, not the worst-case scenario. For many people, talking about a prenuptial agreement during an engagement can feel pessimistic or even too much like business. However, the greater your existing assets and potential for obtaining additional wealth, the more important it becomes to take steps to protect yourself. While a prenuptial agreement may not be the most romantic suggestion in the world, it can help you enter into your marriage secure in the knowledge that you're both marrying for the right reasons.

The easiest thing you can do to protect your estate plan

Some Illinois residents never create an estate plan, making the days and months following their death stressful and challenging for the loved ones and potential heirs they leave behind. Other, more responsible Illinois residents create detailed and well-crafted estate plans that cover every last detail -- making things as easy as possible for the loved ones they leave behind. If you're one of the responsible ones, there's something else you might want to do to ensure that your estate plan is followed to the letter after you're gone.

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