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!
How Life Insurance Is Taxed in Your Estate, and How a Trust Changes That
erson in 2026 and was made permanent under the One Big Beautiful Bill Act (per the Internal Revenue Service). Most families will never owe a dollar of federal estate tax. That is the number people hear, and it is the number that creates a false sense of safety....
Where Is the Best Place to Store Your Original Estate Planning Documents
KEY TAKEAWAYS Accessibility matters as much as security when storing estate planning documents. Safe deposit boxes can create access problems. A home safe can provide secure, accessible storage. Professional storage may offer another secure option. Make sure someone...
Financial Smarts Peak at 50, Here’s How to Protect Your Older Self
KEY TAKEAWAYS Financial decision-making can become more challenging as we age. Simple steps can help protect your finances as you age. The right safeguards can reduce your financial vulnerability. Planning ahead can help protect against costly mistakes. A...
Life Insurance and Estate Planning: Why One Without the Other Leaves Your Family Exposed
You bought life insurance to take care of the people you love. Whether that money reaches them the way you intended depends on something most policyholders never stop to check: how the policy fits inside your Estate Plan. September is National Life Insurance Awareness...
Avoid These Common and Expensive Mistakes: How to Leave Assets to Minor Children
KEY TAKEAWAYS A simple will may not be enough when leaving assets to minor children. Your child’s guardian does not automatically control their inheritance. Court oversight can reduce the inheritance you intended for your child. A trust gives you greater control over...
Single with a Minor Child. . .You Need a Plan
KEY TAKEAWAYS Naming a guardian keeps an important decision from being left to the court. Planning should address incapacity as well as death. Your child also needs someone you trust to manage their inheritance. Turning eighteen does not mean a child is ready to...
Types of Life Insurance and How They Can Be Used in Estate Planning
KEY TAKEAWAYS Life insurance should evolve with your life. The lowest-cost option is not necessarily the right long-term choice. Different policies involve different levels of flexibility, risk, and responsibility. Life insurance can help protect assets you want to...
What You Should Know about Life Insurance in Estate Planning
KEY TAKEAWAYS Life insurance provides cash when your family may need it most. Life insurance can help create a more balanced inheritance. Life insurance can support a variety of estate planning goals. Your beneficiary designation can override your will. Who you name...
Estate Planning When Your Children Live in Different States
KEY TAKEAWAYS Choose decision-makers based on both trust and location. Financial and medical powers of attorney have different needs. An out-of-state executor may need local support. Make important documents accessible from anywhere. Plan for distance before it...
Estate Planning and Financial Advisors: Why the Partnership Matters
A financial plan can be flawless and still fail the moment a client dies, because a beneficiary designation nobody updated in ten years overrides every instruction written into their Trust. Clients are already asking advisors to close that gap. National research found...