Blog Articles
Info About Wills, Trusts, and More…
Hello and welcome! I am Eileen Kerlin Walsh, and I will bring you valuable and topical information on Estate Planning. Estate Planning is the legal process of protecting your assets and your loved ones in the event of disability or death.
Why do you need an estate plan? If you don’t have a valid Will or Trust, Illinois law determines how your assets pass, to whom and when. Having no estate plan can lead to unnecessary taxes, creditors, probate court and other undesirable results. This is the most costly way to pass assets to your loved ones. You can do much better and my column will show you how!
Revocable vs. Irrevocable Trusts in Illinois: Which Is Right?
Most families who set up a Trust focus on creating and funding it, but fewer consider what happens when it must be administered. When a loved one passes, someone must follow the law and carry out the instructions in the Trust. This process can seem daunting, but...
Illinois Probate: Timeline, Costs, and How to Avoid It
For Illinois families wondering how long probate takes and what it costs, the answer often exceeds expectations. The process can last anywhere from 8 to 18 months, with thousands in fees, and makes the details of a loved one's estate public. Understanding how to avoid...
Living Trust vs. Will in Illinois: What’s the Difference and Which Do You Need?
A Will and a Living Trust are both essential estate planning tools, but are not interchangeable. Illinois families who confuse the two may discover the difference at the worst time. Knowing how each document works, what it covers, and its limits is key to a plan that...
What Is a Healthcare Directive and Do You Need One in Illinois?
There is one question that comes up in almost every Estate Planning conversation we have, and it has nothing to do with assets, accounts, or inheritance. It is simpler than that and, in some ways, more personal. If something happened to you and you could not...
Estate Planning for Blended Families in Illinois: Protecting Everyone at the Table
Blended families are one of the most common family structures we work with, and they are also among those where good planning makes the biggest difference. Not because anything is wrong, but because the relationships involved are genuinely more layered, and a...
Durable Power of Attorney in Illinois: What It Is and Why Every Adult Needs One
When people think about Estate Planning, the documents that come to mind first are usually a Will or a Trust. Those are important, and we spend a great deal of time helping families get them right. However, there is another, less-discussed document that belongs in...
The Two Documents Every Adult, Not Just Parents Needs
There is a version of Estate Planning that most parents picture when they first come to us: a Will, maybe a Trust, a plan for what happens to their assets when they are gone. That conversation matters, and we have it all the time. However, there is another...
The Biggest Myth in Estate Planning and Why It Costs Illinois Families More Than They Expect
If there is one misconception we encounter more than any other in our practice, it is this: "I have a Will, so my family is taken care of." A Will is a meaningful document. It expresses your wishes, names guardians for your children, and designates who receives your...
What Happens If You Become Disabled Without an Estate Plan?
Most people think of estate planning as something you do to prepare for death. However, in our experience, the moments when a plan matters happen while you are still very much alive, just unable to speak for yourself, manage your finances, or make decisions about...
Has Your Estate Plan Kept Pace With Your Wealth?
Spring often prompts reflection on what you have built: your home, business, retirement accounts, life insurance, and investments. Seeing your progress is rewarding. Your efforts have produced real results. Consider this: When was the last time your legal protections...