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!
Property Sisters: Important Considerations If You Win The Lottery
On February 14, 2023, the winner of the largest lottery prize in United States history was named. If you are fortunate enough to have purchased a winning lottery ticket, it is important to carefully consider how you want to handle your unexpected windfall. Take...
Property Sisters: Weekend Properties
Keeping the vacation home in the family Spring is here and with summer on the horizon, many of you will plan family getaways to rental properties, hotels, and vacation homes. Think of all the fun times together at the beach, walking in the woods, or laughing at the...
Property Sisters: Seven Ways to Avoid Family Fights Over Your Property
Ask a group of friends if they have experienced a family fight over property after a loved one has died, and you will be in for a lively and eye-opening conversation. Far too many families end up fighting, or at least experiencing tension, over a family inheritance....
Estate Planning Issues for the Modern Family
As the name suggests, ABC’s TV show Modern Family depicts the relationships and experiences between a fictional extended family. Throughout the course of the series, the show addresses many issues that families deal with each day. For a close-knit family such as this...
Have You Thought Through Your Retirement Plans?
Beginning your retirement is a great milestone that is worth celebrating. You have put in many years of hard work, and you are now able to focus your energy on the next phase of your life. However, before you begin this next chapter, you need to make sure that you...
Planning for World Travelers
Planning For World Travelers Although all travel requires planning and can involve risk and complications, international travel requires taking extra steps and addressing additional considerations. You will want to take steps to secure your home while you are away, it...
Important Milestones You Can Incorporate in Your Estate Plan
Life is full of contingencies. While some outcomes are relatively certain, other events are more difficult to predict. This uncertainty can create estate planning challenges. Because life changes quickly and sometimes unexpectedly, your estate plan needs to be...
Things You Can Do to Help Prove You Are Mentally Competent When Executing Your Estate Plan
Although we would all like to believe that our family and loved ones will honor our wishes as expressed in our estate plan, contests are more common than you might think. Sometimes, a family member does not receive what they thought they would after a loved one passes...
Terminal Illness: What Compassion Looks Like in Estate Planning
We love it when we have relationships with our clients that last for decades. There are times, however, when life changes spark an understanding of the importance of certain things including Estate Planning. Either way, it frequently happens that we arrive at a time...
Are You Prepared For The Unknown – Even Dementia?
Many people (maybe even you?) think that estate planning is simply planning for death. While that’s important, it’s not enough. The average life span has increased, and long-term care facilities such as assisted living centers and nursing homes are being built at...