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!
Assisting Your Client: Money Isn’t Everything in Estate Planning
How to Pass Personal Stories and Values to Future Generations Don’t stop reading. . . we know that money is inherently very important, but it is also true that while money and property may be the most discussed types of wealth that a person owns, the riches of their...
Assisting Your Client: How Do I Know When My Clients’ Need An Estate Plan?
The short answer is that everyone age 18 and older needs an estate plan. It does not matter whether they are old or young, have built up considerable wealth or are just entering adulthood—everyone needs a written plan to control what happens to the things they own and...
Assisting Your Client: Important Legacy Questions Your Client Should Answer in Their Estate Plan
When beginning any type of planning, the person planning should usually start with some preliminary questions. With that said, the following are questions that your client should consider when they are thinking of creating an estate plan. Share the following with your...
Property Sisters: How to Give Real Property to a Loved One at Your Death Without Probate Court Involvement
A home is often one of the most important assets that people own. Therefore, most people want to stay in their home until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring property with...
Lessons from Warren Buffett’s Estate Plan: Generosity, Adaptability, and Transparency
Warren Buffett, known as the Oracle of Omaha, is one of the most successful investors of all time. His disciplined approach to investing, combined with his understanding of markets and financial foresight, has made him a global icon and model of success in the...
Beware of Trust Scams–and How to Spot Them
Trusts are widely used in estate planning to protect and transfer a person’s assets (money, accounts, property, etc.), sometimes in a tax-advantaged manner. Some trusts are highly complex, with multiple parties, intricate structures, specialized legal terms, and...
Money Isn’t Everything in Estate Planning
How to Pass Your Stories and Values to Future Generations Money and property may be the most discussed types of wealth that a person owns, but the riches of their experience and wisdom can mean even more to loved ones down the line. Reinforcement of family traditions...
Estate Planning That Expresses Who You Are
5 Things to Talk About with Your Family You intend to pass along your hard-earned money and property through your estate plan, but what about your wisdom? Ensuring that you successfully pass all of this along may call for a family meeting to discuss your finances,...
Who Needs an Estate Plan?
If you are reading this, you need an estate plan. Why? The short answer is that everyone age 18 and older needs an estate plan. It does not matter whether you are old or young, have built up considerable wealth or are just entering adulthood—you need a written plan to...
Important Legacy Questions You Should Answer in Your Estate Plan
When beginning any type of planning, you usually start with some preliminary questions. Estate planning is no different. When you begin the process, your estate planning attorney will likely ask about your family members, the accounts and property you own, and whom...