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Estate Planning FAQ

Answers for FAQ on Estate Planning

Estate Planning has many facets, each with legal terms. We provide answers below to many FAQ on estate planning.

What is a Trust?

  • What is a living trust?
  • Who controls the assets in a trust?
  • Will placing property into a living trust shield it from creditors?
  • If I have a trust do I still need a will?
  • Is a trust private?

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What is a Last Will and Testament?

  • Who needs a Last Will and Testament?
  • What happens if I don’t have a Last Will and Testament?
  • How can I prepare my Last Will and Testament?

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What is a Power of Attorney for Property?

  • What are the advantages of having a Power of Attorney for Property?
  • What should be included in a Power of Attorney for Property document?
  • Who may execute a Power of Attorney for Property?
  • Who may be designated as an agent?
  • What is the agent’s responsibility?
  • When does the Power of Attorney for Property take effect? When does is cease?
  • Can I amend the Power of Attorney for Property document after it takes effect?
  • Will the Power of Attorney for Property be recognized in another state?

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What is a Living Will?

  • What are the advantages of a Living Will?
  • Who can execute a Living Will?
  • What can a Living Will not do?
  • When does a Living Will go into effect?
  • How can I be sure that my Living Will is followed?
  • Can a Living Will be revoked?
  • When should I make a Living Will?
  • Do I need an attorney to prepare a Living Will?

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What is Power of Attorney for Healthcare?

  • How do I designate Power of Attorney for Healthcare?
  • Who should I designate as my Agent for Power of Attorney for Healthcare?

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What is a Children’s Trust?

  • Why start a Children’s Trust?
  • When should I start a Children’s Trust?

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What is a Qualified Domestic Trust?

  • What is a taxable event?
  • What is a hardship in this case?
  • How do I start a QDOT?

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What is a Special Needs Trust?

  • What kind of Special Needs Trusts are Available?
  • Self Settledor First Party Trust
  • Third Party Special Needs Trust
  • Supplemental Needs Trust
  • What kind of Special Needs Trust is best for my circumstances?

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What is a Medicaid Trust?

  • Why should I use a Medicaid Trust?
  • Benefits of a Medicaid Trust and what are my other options?

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What is Guardianship?

  • What are the responsibilities of a Guardian?
  • I want to designate a Guardian for my child in the event of my death.  What do I do?
  • I am responsible for an adult who can no longer make decisions for themselves.  Am I a Guardian?
  • A child lives in my home, but I am not a Guardian.  Do I need to become a Guardian?
  • I was appointed the Guardian of an Estate. Do I have to care for the child?
  • Who can I contact with questions about Guardianship?

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What is a Decedent Estate?

  • What is the legal process for a Decedent Estate?
  • How do I prepare my estate?

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What is Death Related Probate?

  • Who is involved with death related probate?
  • Why avoid probate?
  • How can I avoid probate for my family and loved ones?
  • How do I create an estate plan to avoid probate?

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Our Happy Clients

Brilliant, Genuine, Caring, Experienced, detailed oriented and more... That describes Eileen Kerlin Walsh

Miguel Ellis Chicago, IL 4/29/2016

2016-04-29T17:33:08+00:00
Brilliant, Genuine, Caring, Experienced, detailed oriented and more... That describes Eileen Kerlin Walsh Miguel Ellis Chicago, IL 4/29/2016

My sister referred me to Kerlin Walsh Law; this is the second time using them. Kerlin Walsh Law have fair rates. They are professional, possess good time management and communicate well - they ask questions and also provide answers. They have good follow up; during the process I did receive a phone call informing me on the happenings. I did get the verdict I was looking for. I would use Kerlin Walsh Law again.

Cecelia P. Chicago, IL 3/18/2016

2016-03-22T09:53:15+00:00
My sister referred me to Kerlin Walsh Law; this is the second time using them. Kerlin Walsh Law have fair rates. They are professional, possess good time management and communicate well - they ask questions and also provide answers. They have good follow up; during the process I did receive a phone call informing me on the happenings. I did get the verdict I was looking for. I would use Kerlin Walsh Law again. Cecelia P. Chicago, IL 3/18/2016

Harvard Magazine in 2010 revealed that two critical variables account for 80% of our overall judgment of others; warmth and competence. Eileen Kerlin Walsh exudes a perfect blend of these traits. Whether she is finalizing a Trust, conducting a seminar or delivering a law lecture, she possesses the broad base of knowledge and the warm human touch that make her the consummate professional.

Kamp, Chicago, IL

2016-03-22T10:03:17+00:00
Harvard Magazine in 2010 revealed that two critical variables account for 80% of our overall judgment of others; warmth and competence. Eileen Kerlin Walsh exudes a perfect blend of these traits. Whether she is finalizing a Trust, conducting a seminar or delivering a law lecture, she possesses the broad base of knowledge and the warm human touch that make her the consummate professional. Kamp, Chicago, IL