When we think of estate planning, the image that often comes to mind is of a married couple with children, creating a will and establishing trusts. However, estate planning is not exclusively reserved for married couples. Long-term, unmarried couples can also benefit greatly from proper estate planning, and in some cases it's even more [...]
Estate planning is more than just passing on your money. When most people hear the term "estate planning," their thoughts naturally gravitate towards financial assets, wills, and inheritances. While it's undeniable that financial planning is a crucial aspect of estate planning, there's a deeper dimension to consider – one that involves passing on more [...]
A Digital Executor is a relatively new concept when it comes to estate planning. So what is it and why do you need one? In today's increasingly digitized world, our lives are intertwined with the digital realm. From social media accounts and email addresses to online banking and cherished memories stored on the cloud, [...]
Deciding if you need separate versus joint trusts is a conversation that blended families need to have. Blended families, a term used to describe families created when two people with children from previous relationships come together, bring about a host of financial complexities that demand careful consideration. Balancing the financial needs of biological children, [...]
When it comes to estate planning, transferring property is a crucial aspect that requires careful consideration. For many, properties including your home, vacation homes, and even income properties, are a large part of your wealth. With baby boomers currently passing down over $53 trillion to their heirs in one of the largest generational wealth [...]
Protect your kids' future by learning what to avoid in your estate planning. While estate planning is mostly about transferring your wealth, your plan should encompass much more than that. Many individuals shy away from exploring family complexities or addressing emotionally charged matters. However, the truth is that failure to plan, confront tough issues, [...]
Divorce is a challenging journey that many of us hope never to face, but life's twists and turns sometimes lead us down that path. Amid the emotional rollercoaster, it's essential to understand the legal implications of dividing assets and property. In the United States, property distribution during divorce can be governed by one of [...]
Talking to your kids about their inheritance may seem like an overwhelming conversation. Easier said than done, right? But, sometimes the hard conversations are the most important ones. You've worked hard to build a life you're proud of, and with that comes thinking about what you will be leaving behind for the next generation. [...]
Illinois Governor, J.B. Pritzker, recently signed the Employee Background Fairness Act into law, bringing significant changes to the hiring practices of employers in the state under the Illinois Human Rights Act. This law aims to ensure fairness in the employment process by prohibiting employers from disqualifying job applicants based solely on their conviction records, [...]
Can you handwrite a will? Technically, yes. But SHOULD you handwrite a will? No. Creating a will is an essential step in planning for the future, ensuring that your assets and wishes are properly distributed after your passing. Fans of HBO's popular show Succession, learned this in a shocking episode in season 4. With [...]
