I hear some version of this question almost every week. Someone comes in, they've heard they should probably have a trust, but they're not entirely sure what it does, whether…
Most people don't think about probate until they're sitting in the middle of it. A parent has passed away, there's a will, and everyone assumes the process will be straightforward.…
I have this conversation more than almost any other in my practice. Someone comes in, usually after losing a parent or a spouse, and they tell me they have a…
A business owner came into my office a few years ago. He had spent 14 years building a construction company in the Kane County area. Good revenue, loyal clients, a…
Prenuptial agreements are often misunderstood. They are frequently portrayed as “weapons” used in a bitter divorce or as pessimistic planning for worst case scenarios. Because of this, many people assume…
Considering a prenuptial agreement before you get married? You're not alone. According to a 2023 poll by Axios, a full 50% of American adults said they’d be open to signing…
There was a time when prenuptial agreements were treated very cautiously by the courts and it was difficult to enforce them. Courts often took the position that a prenuptial agreement…
A prenuptial agreement is a legal contract between two people that addresses the financial consequences of their marriage ending. A well-drafted prenuptial agreement can provide clarity, protect property you owned…
Contrary to stigma, prenuptial agreements can inspire financial confidence. What is a prenup? While pop culture hasn't exactly been kind to this binding legal premarital agreement, a well-crafted prenuptial agreement…
By: Jedediah McClure, JD Communication is key in estate planning, but it requires careful preparation. Here are three tips to help your family engage in more effective discussions about estate…
By: Jedediah McClure, JD Key Points Financial Security: Estate planning protects your assets like home, investments, retirement accounts, and life insurance. Avoid Probate: Proper planning helps beneficiaries avoid the lengthy…
You can't just take the usual wording from a trust for a minor or a beneficiary with a disability and use it as a model. This type of trust needs…
Whether you’re planning ahead for your own heirs or have been asked to serve as an executor for someone else, it pays to understand what the role requires. The executor…
Some situations where you may need to change your will should be obvious to most people. But others just may surprise you. By: Jedediah McClure, JD Key Points Life Changes:…
It’s an important question: Who can be trusted to take care of your estate when you’re gone? When you pass away and your will is accepted for probate, your executor…
These all-too-common misconceptions can steer your estate plans in the wrong direction right from the start. Here’s how to overcome them and tips to build the right plan for your…
A true story: A mother with two kids put them down as the beneficiaries of her nearly $200,000 401(k) account – but when she died, they got nothing. It’s all…
Having a well-organized and reliable plan that establishes who is in charge and clearly dictates how your assets are to be distributed provides both comfort and peace of mind. It…
Will contests in the US are not uncommon. Generally, when you create a Will and designate who gets your assets, there is someone out there who might benefit from invalidating…
These legal documents can't just be put in a drawer and forgotten for years and years. They need to be tended to periodically, or else they may cause problems when…
Passing down to your heirs your intentions for your money is just as important as passing down the money itself. Writing one letter can make all the difference. Here's how.…
Once an irrevocable trust is set up with the best of intentions for your children, it's set in stone, and you're out of luck if circumstances change ... or are…
Putting a child on your bank account can make life easier as you get older, and it can help your heirs avoid probate after you're gone. But it comes with…
Spendthrift trusts may sound like you're trying to keep your kids from frittering away your legacy, but they are not just for those with spending problems. They're useful in cases…
The top reasons people don’t have an estate plan may sound familiar to you. Here’s what they are and what’s at stake. By: Jedediah McClure, JD We all lead busy…
Dealing with the death of a loved one is hard enough; estate planning can make things easier on a grieving family. By: Jedediah McClure, JD Key Points Estate Planning Importance:…
If your child relies on Medicaid services, how can you ensure that when you die the money you leave them doesn't cause them to lose that vital support system? A…
Taking on the role of an executor is a significant responsibility that demands careful attention to detail and dedication. If you have been named executor in a will, you have…
Feeling overwhelmed? A checklist can help you figure out where to start and tasks you may be able to put off. By: Jedediah McClure, JD The death of your spouse…