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!
Advisors – Wills versus Trusts – Trusts Win
Find Out What a Trust Can Do That a Will Can’t Right now, the estate tax exemption surpasses $10 million (doubled if a client is married), and although it is due to revert back to $5 million (adjusted for inflation) in 2026, many clients believe their revocable trusts...
Wills Versus Trusts
A Quick & Simple Reference Guide Confused about the differences between a will and a trust? If so, you are not alone. While it is always wise to contact experts like us, it is also important to understand the basics. Here is a quick and simple reference guide:...
Revocable Trust Versus Irrevocable Trust
Which Is Best for You? A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted...
Ten Types of Trusts
A Quick Look Considering the myriad of trusts available, creating the right estate plan can seem daunting. However, that is what we, as estate planning attorneys, do every day. We know the laws and will design a plan which addresses your specific situation. Here is a...
Wealth Transfer Strategies to Consider in an Election Year
How might the coming election affect you? I think we can all agree, we have never experienced a year like 2020 with the difficulties presented by COVID-19 and the resulting volatility in the financial and employment markets. As the 2020 presidential and congressional...
Equal Justice Under The Law Connection Between The Following:
Ruth Bader Ginsburg, the United States Supreme Court, and the Lasting Impact on the Practice of Estate Planning Justice Ruth Bader Ginsburg, known by her initials RBG, passed away recently leaving a long legal legacy in her wake. She was the first woman to lie in...
Advisors – Preparing Clients for Possible Post-Election Tax Law Changes
Wealth Transfer Strategies to Consider in an Election Year The 2020 election is almost upon us. The recent past has taught us that trying to predict the results of an election can be futile at best. Still, our clients need timely counsel regarding their wealth...
Important Considerations Before Heading Off For The Winter
As winter approaches, many people travel south to escape the cold. Before you lock your front door and embark on your annual retreat, below are some points to consider. What is happening in your destination state? Because we are still in the midst of a pandemic, it...
A Checklist: What To Do Before Heading South For The Winter
As you prepare for your upcoming travel, make sure to ready yourself and your home, take important security measures, and your estate plan before you depart. Personal Preparation Pack clothing and other personal belongings appropriate for the weather in your...
Advisors – Assisting Clients With Their Winter Travel
As winter approaches, many clients migrate south to escape the cold. If you are meeting with a client before the client departs or after the client has arrived in the destination state, below are some important considerations for discussion. Which state does the...