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!
Homestead Exemptions and Estate Planning
The term homestead may seem like a throwback to pioneer days, but homestead exemption laws are directly relevant to today’s estate planning and can play a valuable role in a modern plan. Almost every state has some form of homestead exemption law primarily focused on...
Stress Test Your Estate Plan
Creating an estate plan is a huge accomplishment. However, your work is not done when the documents have been signed. You must still ensure that the chosen strategy gives you peace of mind and protects the legacy you have worked so hard to build. An estate plan is not...
When Is an Estate Subject to State Death Taxes?
The United States imposes a federal estate tax at death, which is based on the total value of the deceased person’s estate (everything a person owns at the time of their death) and is paid from the estate itself. In addition to the federal estate tax, some states...
Committed, Protected, Prepared: Estate Planning Tips for Unmarried Partners
More couples than ever are building deep, lasting relationships without ever walking down the aisle. Whether by choice, circumstance, or principle, many Americans are opting out of marriage—but not out of commitment. Data indicate that cultural norms regarding...
Estate Planning Facts for the Holiday Season
Every year around the holidays, stores and malls across America are transformed into winter wonderlands, complete with elves, ornaments, artificial snow, and larger-than-life decorations. Many children stare in wide-eyed wonder as they wait to sit on Santa’s lap and...
National Regifting Day: Regifting for Your Future
During the holidays, we usually receive at least one gift that, let’s face it, falls a bit flat. When we were young, it might have been an itchy sweater from Grandma or a toy from Mom and Dad that we had outgrown. As adults, maybe someone got your clothing size wrong...
A Cozy Chat About Your Legacy: Planning for Peace of Mind This Holiday Season
12 Estate Planning Steps to Take This Holiday Season “On the first day of Christmas, my true love gave to me a partridge in a pear tree.” —The Twelve Days of Christmas A partridge in a pear tree? Lords a-leaping? Many of us may know the lyrics to “The Twelve Days of...
Helping Clients Protect What Matters Most: Key Guardian Planning Questions Every Advisor Should Understand
When working with families—particularly those with minor children—discussions about future planning can be sensitive but essential. One of the most overlooked elements of a comprehensive estate plan is guardian nomination: determining who will care for a client’s...
5 Things Advisors Should Know When Guiding New Parents About Wills
For many clients, becoming a parent brings tremendous joy—along with new responsibilities and a deeper sense of planning for the future. It’s also often the first time they begin thinking seriously about what would happen if they were no longer here to care for their...
The Advisor’s Estate Planning Challenge: Test Your Knowledge!
In 2025, what is the total amount of money and property that a person can gift during their lifetime and leave at their death (other than to their spouse) without owing any federal estate tax? $5 million $15 million $13.99 million as much as you want The correct...