2019 Resolutions
We have now concluded the third week of the new year. You have probably made a list of resolutions focusing on various ways to improve your outlook in 2019. As the holiday season fades away and we get back to…
Divorce Tax Treatment Changes Implemented January 1st, 2019
The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. To ease the transition brought by the new law, the application of many individual tax changes were pushed back to take effect until 2019. One…
The Benefits of a Funded Trust
The concept of “funding” a Trust involves transferring assets to the ownership of the trust. These assets include real property, financial accounts and other types of property. Fully funding a Trust ensures that you and your beneficiaries receive the most…
What is Probate?
Probate is the court process of administering an estate after the death of an individual. An estate is deemed everything a person owns, but in this context, it refers to either individually owned or trust owned property. The Probate process…
When Should You Consider Changes to Your Estate Plan?
It is beyond debate that estate planning is a time and money investment that provides inestimable financial benefits for all families regardless of whether there are children or an array of financial assets. Creation of an estate plan is the…
Asset Division in Illinois
Throughout a marriage, couples acquire assets, that later are often deemed “marital property”. In the course of a divorce proceeding, if the spouses cannot agree, the court will decide the manner and amount of the division of assets (and debts).…
Why a Business Needs an Attorney
Starting a business is an energizing experience for those with the entrepreneurial spirit that often involves developing a partnership with various individuals – an accountant and a commercial banker for example. Often, business owners may overlook the benefits of legal…
Health care directives for your children
You have likely created an estate plan for yourself, but have you ever thought about creating health care directives for your college bound child? The story below outlines a scenario where these documents are beneficial and necessary. Ashley’s Story Ashley…
Do You Need an Estate Plan?
Do you own a home? Have financial assets like stocks or savings accounts? Are concerned about what will happen to your minor children should you pass? Want to ensure your property is distributed in a certain order? If you answered…
What to Do After You Have Created a Trust
Estate planning trusts can be one of the more valuable options available to administer an individual’s financial affairs during a disability or at their death. Clients have often found that a living trust is superior to other methods. Most individuals…