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!
Think Your Estate Plan is Complete?
Estate Planning Awareness: Think Your Estate Plan is Complete? Make Sure You’re Not Missing These Important Points Roughly two-thirds of Americans do not have an estate plan, according to a recent survey from Caring.com.[1] If you are among the minority of US adults...
How to Prepare for Whatever May Come Your Way
DID YOU KNOW? September is Disaster Preparedness Month: How to Prepare for Whatever May Come Your Way The unpredictable can occur at any time: fires, hurricanes, floods, earthquakes, pandemics—you name it. Because September is National Disaster Preparedness Month, we...
Estate Planning: Answering Common Questions of Senior Citizens
According to a study conducted by Caring.com, the percentage of people aged fifty-five and older who have created a Will has fallen from 60 percent to 44 percent since 2019.[1] Although creating or updating your Estate Planning may seem like a daunting task, a proper...
Better to Play it Safe: Proactive Estate Planning and Cognitive Impairment
Most financially savvy individuals begin planning their estate when they’re in peak mental shape. The idea that this might change at some point in the distant future is an unpleasant one, and they would rather go about their Estate Planning as if they’ll be as sharp...
Don’t Have a Lot of Money? Here Are Seven Ways You Can Still Leave Your Family A Great Legacy
Your family can have peace of mind knowing with certainty that they are carrying out your wishes if they have a crystal clear understanding of what those wishes are. Whether or not you have much money, you can leave an important legacy to your family simply by making...
What Estate Planning Awareness Means For You
The third week of October each year is National Estate Planning Awareness Week. Estate Planning is important for everyone regardless of wealth or family status because if you become incapacitated or pass away without an Estate Plan, you are leaving the distribution of...
The Property Sisters: The Benefits of Bloodline Trusts
You probably have a good idea where you want your assets to go after you pass away, first to your spouse and then to your children and named beneficiaries. But if you do not engage in proper estate planning, your wishes may not be fulfilled. What is a Bloodline Trust?...
The Property Sisters: What to Know Before Buying a Home With Your Parents
A record 64 million Americans now live in a multi-generational home, according to a Pew Research Center report, up from 32.2 million in 1950. There are multiple reasons for this shift: the increasing cost of long-term care and, of course, rising housing prices. For...
Estate Planning Considerations for Couples with an Age Gap
With couples of similar ages, planning for the future is naturally a joint effort. However, if you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you. To protect yourself, your...
Domestic Partnership and Estate Planning
Does a Domestic Partner Have the Same Rights as a Spouse When It Comes to Estate Planning? The short answer to whether couples in a domestic partnership have the same rights as married couples when it comes to estate planning is probably not. To a large extent, the...