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: Home Security Systems and Estate Planning
Physical security is a big part of feeling emotionally, psychologically, and spiritually secure. A home security system can fit nicely into estate planning goals, providing an extra layer of protection when we are gone—both temporarily and permanently. Incorporating a...
Four Things Your Spouse Should Know Before You Die
It is normal for married couples to share almost every aspect of their lives with each other. But when it comes to death, even the closest couples might become tight-lipped about certain topics. According to one study, half of all couples fail to discuss their dying...
Estate Planning Awareness Week: The Importance to You and Your Loved Ones of Having an Estate Plan
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2021...
Property Sisters: It Is True…Remodeling Your Home Could Impact Your Estate Plan
When turning to renovation projects, there are often implications that need to be properly addressed. When Remodeling a Home in a Trust with a Home Equity Loan Homeowners with a proper estate plan often place their property in a revocable living trust (i.e., a living...
Was Your Loved One a Book Lover?
Think Twice Before You Throw Them Out! An individual’s belongings—such as jewelry, furniture, photographs, and books—sometimes slip through the cracks of their estate plan. While certain books may be gifted to a beneficiary in a loved one’s will, a book lover may...
Three Reasons to Avoid Probate
When you pass away, your family may need to sign certain documents as part of a probate process in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in your name only and you...
When Rock Legends Pass Away
The Possible Fates of Meat Loaf’s $40 Million Estate Meat Loaf, whose real name was Michael Lee Aday, passed away earlier this year at the age of seventy-four. The singer behind 1977’s Bat Out of Hell—one of the best-selling albums of all time—experienced ups and...
How do I dispose of my deceased loved one’s controlled substances?
There are so many things to think about when a loved one passes away. What to do with the prescription drugs (or other controlled substances) that are in your loved one’s medicine cabinet is not usually at the top of that list. Yet, to avoid running afoul of laws...
Why You Want to Avoid Intestacy
About two out of three Americans will die without a will. This is known as dying intestate. While the reasons for not having a will vary, the end result is the same for everyone: they do not get to choose who receives their property when they die. Instead, their money...
Bills and Services to Cancel and Keep When a Loved One Dies
A loved one’s passing is challenging on many different levels. In addition to the emotional difficulty of processing someone’s death, there are also the many tasks that must be dealt with, such as going through their various accounts and taking the necessary steps to...