Plain Meaning of the Trust is What Governs

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. …

Estate Planning 101

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. […]

Estate Planning Basics

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 […]