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October 2017 Archives

What should I know about real estate appraisal?

One of the most important steps following the death of a loved one is the organization of his or her estate. Through probate proceedings, potential heirs -- as well as creditors -- will have the chance to step forward and assert their rights to receive payment for debts, and ultimately to receive their inheritances after the debts have been paid. During this probate process, the estate will need to be valued and this could involve determining the value of real estate property owned by the estate.

How do I get information about my deceased sister's condo?

Imagine you're serving as the executor of your deceased sister's estate. Your sister owned a condo in a neighboring city and for you to carry out your executorship duties, you need to get information about the unit from the condo manager. What information will you need to present to prove your status as executor?

Premarital agreement: Points to remember

Thinking about the possible end of a marriage before the nuptials even begin isn't something that most people want to do. Even though it is unpleasant, taking a moment to devote time to this important -- but often overlooked -- subject this can actually help strengthen your marriage.

Can my family benefit from a spendthrift trust?

When an Illinois estate planner is worried that his or her heirs cannot handle receiving a large sum of money all at once, a spendthrift trust could be appropriate. A spendthrift trust will dole out your heirs' inheritances to them slowly over time -- perhaps in monthly distributions -- so that there's less danger of your heirs mismanaging the money and spending it irresponsibly on frivolous expenditures.

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