It is easy to see why so many otherwise responsible people procrastinate when it comes to preparing their wills. Nothing brings you face to face with your mortality like creating a document detailing how your final affairs are to be handled and your assets distributed, so it is no surprise so many folks put it off. The reluctance may be understandable, but living without a will is an extremely risky thing to do. No matter […]
The Second District Court of Appeal’s opinion in Ebeling v. Ebeling (June 7, 2019) reiterated this concept of trust construction.
In Ebeling, the trial court construed the terms of a trust to determine the entitlement to the trust’s assets. The trial court’s decision on distribution to contingent beneficiaries named in the trust rater than the decedent’s estate was reversed.
The trust was governed by Illinois law but that did not make any difference. …
Dealing with an estate is a really big deal, and if you have a lot of money involved in it, you’re likely trying to make sense of a lot of details. How can you be sure that you’re doing what is best here? Are there options that are going to allow you to get ahead? And how can you make the right decisions so that your estate is sorted out correctly? Here are some of […]
What is estate planning? An estate plan allows you to identify how you want your property dispersed amongst your loved ones after your death. An estate consists of bank accounts, life insurance policies, personal property like jewelry, art and cars, real estate and even stocks. In an estate plan, you can ensure your loved ones are provided for, you can even determine child guardianship for minors as well power of attorney and even healthcare wishes. […]
There are many ways in which you can begin to do estate planning. Setting up either a will or a trust allows you to bequeath your personal property to loved ones. However, before you begin your planning it is important to know the difference between a will and a trust. Wills A will can be changed at any time, it only goes into effect once the person who wrote it dies. A will only covers […]