- Elder Law9
- Estate Planning66
- How Start Estate Planning11
- Land Owners2
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Under Illinois law, an individual holding a power of attorney is a fiduciary as a matter of law. The person designated as a power of attorney agent owes a fiduciary duty to the principal—the person making the designation.
Survivorship periods don’t usually surpass 60 days. If this period surpasses 120 days, it could put the tax-free estate transfer of assets to a surviving spouse at risk.
Coronavirus stimulus checks are currently being distributed, and millions of Americans are eagerly awaiting their payment. Depending on your income, you could receive up to $1,200 (or $2,400 for married couples filing jointly), plus an additional $500 for each dependent under the age of 17.
One of the most fundamental choices you can make as you’re thinking about how to pass your assets on to heirs, is whether you hold assets in a revocable trust or more simply give them via a will. Both approaches have advantages, although trusts can provide significantly more benefits.
The main reason that people choose to have a living trust instead of a will, is that it avoids the probate system. Probate is the legal proceedings to decide whether a will is legal and binding. It also is the court session to decide where the property will go, if there is no will provided.
It took my husband Mike’s heart attack to force us to recognize the need for having an estate plan. It was not smart. You are smarter than that. Create an estate plan today.
Unless you are a spring breaker partying it up, you have probably given your own mortality a once-over or two during these long COVID-19 days.
Remote mental health care use among Veterans Affairs patients jumped dramatically last month as normal medical care appointments were disrupted and veterans forced into self-isolation because of the ongoing coronavirus pandemic.
The reality of COVID-19 has forced many individuals to address the ‘what if’ scenarios that were previously unthinkable, or at least the situations that no one ever wants to talk about or deal with.
When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don’t want to make.