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!
Estate Planning After Divorce in Illinois: What You Need to Update Immediately
Most people with a Living Trust assume the Trust does all the work. Set it up, fund it, and everything flows the way you intended. Then life happens. A new bank account opened last year, or a settlement check landed after everything else was in place. Maybe you...
Your Divorce Decree: The First Step in Estate Planning
KEY TAKEAWAYS One signature doesn't always change everything. Once the divorce is final – not all legal needs are necessarily complete. What is in a divorce decree? What effect does the divorce decree have on an existing estate plan? Protecting your new future. One...
The Mid-Year Estate Planning Checklist for Illinois Families
Your Estate Plan was accurate the day you signed it. The question is whether it still reflects your life six months, two years, or one major financial decision later. Most families don't find out their plan has missing pieces until they need it to work. Why Mid-Year...
The Risks of an Unfinished Estate Plan—and Why You Should Complete Yours
KEY TAKEAWAYS Unfinished estate plans can create costly legal and family challenges. Delays often stem from emotions, complexity, or busy schedules. Complete documents help avoid probate and confusion, and ensure enforceability. Review your plan after major life...
Trust Administration in Illinois: What Happens After Death
When families ask about Trusts, they almost always start with the same question: What is the difference between a Revocable and an Irrevocable Trust, and which do we need? The answer depends on your goals, and choosing incorrectly has consequences that most don't...
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...