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!
Considerations Before You Head South for the Winter
KEY TAKEAWAYS Where you call home can have consequences beyond your address. Your estate plan may not work exactly the same everywhere you live. Some important details are easy to overlook before heading south. Not every power of attorney works the same way. Living in...
Flying Solo: Why Estate Planning Still Matters and What to Do Next
KEY TAKEAWAYS Who would step in if you couldn’t make decisions? The right decision-makers may not be the obvious ones. Your beneficiary choices deserve a closer look. Being single can change the tax planning equation. A plan puts you—not the law—in control. As a...
Choosing the Right People for the Right Roles in Your Estate Plan
KEY TAKEAWAYS The right person for one role may not be right for another. Trust matters, but so do availability and follow-through. A conversation now can prevent confusion later. A little organization can make a difficult job easier. Your choices may deserve another...
Illinois Estate Planning in 2026: What Families Need to Know
The federal estate tax exemption jumped to $15 million per person in 2026. Illinois did not follow. The state still taxes estates over $4 million, and that number has not moved in more than a decade. That single fact catches more southwest suburban families every...
The Illinois Estate Tax Threshold in 2026: What Families Need to Know
A complete Illinois estate plan in 2026 is built from four working parts: a Revocable Living Trust, a Pour-Over Will, a Durable Power of Attorney for Property, and a Durable Power of Attorney for Health Care. Together they decide who controls your money and your care...
Committed, Protected, Prepared: Estate Planning Tips for Unmarried Partners
KEY TAKEAWAYS Commitment alone may not give your partner legal protection. Without a plan, state law may decide who inherits your assets. Estate planning can protect more than what happens after death. Some accounts may not follow the instructions in your will or...
The Invisible Estate: Secure the Value You’ve Earned Through Loyalty and Reward Points
KEY TAKEAWAYS Your rewards may have more value than you realize. Loyalty points are not treated like traditional assets. What happens to your points after death depends on the program. An inventory can help keep valuable rewards from disappearing. Your estate plan...
Do Not Let Your Money and Property Go to the State: Why You Need an Estate Plan
KEY TAKEAWAYS Without an estate plan, state law may make important decisions for you. Some of the people who matter most to you may not automatically inherit. Even an existing estate plan can leave unexpected gaps. Estate planning gives you choices state law does not....
Medicaid Planning in Illinois: How to Protect the Assets You Have Built While Qualifying for Care
A single stretch of long-term care can consume in a year what took decades to build. That is the quiet financial risk sitting inside most family plans, and it is one of the few that a Will and a Trust alone do not fully address. Medicaid planning is how families...
Wondering Whether You Need to Update Your Estate Plan? You Do. Here Is Why.
KEY TAKEAWAYS An estate plan that worked years ago may not work for your life today. Family changes can affect more of your estate plan than you might realize. New property and financial assets can create unexpected planning gaps. The people you once chose for...