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What you can learn from Michael Jackson's estate planning mistake

The larger an estate is, the more prone it will be to errors and mistakes due to its complexity. Nevertheless, you'd think that a man like Michael Jackson would create the most rock-solid estate possible, but the King of Pop made a big mistake in his estate planning that everyone can learn something from.

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.

Avoid probate with a death beneficiary

Probate will not necessarily be an easy process for your heirs. It will cost money, it will take time and it could bring a certain amount of stress. As such, many Illinois estate planners will want to take action to help their heirs avoid probate wherever possible.

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.

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.

Why every executor needs a probate and estate attorney

Getting named as an executor to someone else's estate is a dubious honor (and sometimes not worth what is agreed by the parties or allowed as a fee by the Probate Court). It means that the person who passed trusted you to fulfill his or her wishes, which reflects well on your character. There can be a lot of work that comes with managing an estate. The same is true if someone names you as a trustee for an estate or end of life trust.

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