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!
A Dementia Diagnosis Changes More Than Healthcare: Seven Legal Moves to Make While You Still Can
KEY TAKEAWAYS A dementia diagnosis does not automatically mean loss of legal capacity. Medical diagnosis and legal capacity operate on different timelines. Waiting can significantly reduce a family’s options. Several legal and financial matters should be reviewed...
When “We’ll Figure It Out” Becomes a Problem
KEY TAKEAWAYS Good intentions don’t equal legal authority. Unclear family roles can create costly delays. Informal family agreements may fall apart under pressure. The person who naturally takes charge still needs proper authority. Formal estate planning replaces...
How to Find an Estate Planning Attorney in the Chicago Area: What to Look For
Search "estate planning attorney near me" from anywhere in the southwest suburbs, and you will get dozens of results and almost no way to tell them apart. Every website promises experience. Nearly every website looks the same. That sameness is the real problem. An...
Estate Planning for Business Owners in the Chicago Southwest Suburbs
Most business owners in the southwest suburbs have a plan for growing their company. Far fewer have a plan for what happens to it without them. That hole is not about being unprepared in general. It comes from treating personal planning and business planning as two...
Window Of Opportunity: Legal Steps to Take When You First Notice Memory Problems
KEY TAKEAWAYS Early memory problems don’t necessarily mean it’s too late to make legal decisions. A diagnosis doesn’t determine legal capacity—understanding does. There may be a limited window to put important legal documents in place. Powers of Attorney and other key...
Too Late to Plan: Navigating Legal and Financial Barriers After Dementia Progresses
KEY TAKEAWAYS Once legal capacity is lost, many traditional Estate Planning options may no longer be available. Even close family members or a spouse may not have the legal authority to step in. Without the right documents, accessing finances, medical information, and...
What Happens to Your Estate If You Die Without a Will in Illinois?
In Illinois, everyone already has an estate plan, whether they wrote one or not. If you die without a Will, the state of Illinois has one waiting for you, and it was not written with your family in mind. That plan is called intestate succession, and it follows a fixed...
Estate Planning for High Net Worth Families in Illinois: Beyond the Basics
A standard Estate Plan does its job well up to a point. Will, Trust, Powers of Attorney, beneficiary designations in order. For many families, that structure holds. For families whose wealth has grown significantly, that structure is often the floor, not the ceiling....
Kids Going Away to College? Why You Should Include Estate Planning in the Preparation
KEY TAKEAWAYS College can change your legal rights overnight. Could you help in a medical emergency? College paperwork isn't enough. One conversation can protect your family. The college checklist most parents overlook. You have likely been preparing for weeks to get...
Happy 18th Birthday! Now What?
KEY TAKEAWAYS Turning 18 changes more than you think. Your parents may no longer have access. One emergency can expose a big gap. Estate planning isn't just for older adults. A few documents can protect your future. Congratulations! You are now legally an adult....