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!
Assisting Your Clients with Estate Planning: Beyond the Basics for Modern Families
Today’s families take many different forms. Some are blended through divorce and remarriage while others are built through long-term partnerships, adoption, or fostering. Families may include same-sex or opposite-sex couples; married or unmarried partners; or children...
Assisting Your Clients with Estate Planning: The Missing Piece in Their Financial Puzzle
Top 3 Reasons Your Clients May Not Have an Estate Plan—and How You Can Help During your discussions with other advisors or while reading industry publications, you have likely come across startling statistics about the number of Americans without an estate plan. The...
Property Sisters: If You Own Your Property This Way, You May Accidentally Disinherit Your Own Children
Do you own your home, other property, or a financial account with someone else, such as a spouse or an adult child? If so, you might be surprised to learn that a common way of owning property could cause problems for your loved ones in the future. While there are...
Property Sisters: If I Leave Someone My Home, What Do They Really Get?
Your home is likely one of the most valuable assets you own, if not the mostvaluable. Calling it an asset can sound cold. A home is far more than an assortment of materials and possessions. It is also a place to live, gather, create life stories, and share memories....
Estate Planning for New and Expanding Families – Frequently Asked Questions
Question 1: What is a guardian? There are two kinds of guardians: (1) those appointed by a court to care for a minor child when both of the child’s legal parents are unable to do so and (2) those appointed by a court to care for an incapacitated adult who can no...
5 Things Every New Parent Needs to Know About Wills
Congratulations on your new baby! Becoming a parent is an incredible journey filled with joy, love, and a whole lot of sleepless nights. It is also a time when you start thinking about the future in an entirely new way. You want to ensure that your child is always...
Whom Should I Tell About My Estate Plan?
Creating an estate plan is typically a private matter, not something you share in detail with everyone in your life. After all, what you choose to do with your money and property is your business. Your partner might know what is in your plan, especially if you created...
Plan Smart, Live More: Test Your Estate Planning IQ!
In 2025, what is the total amount of money and property you can gift during your lifetime and leave at your death to your loved ones (other than to your spouse) without owing federal estate tax? $5 million $15 million $13.99 million as much as you want The correct...
Treating Children Fairly Does Not Necessarily Mean Equally
Parents generally try to treat all their children fairly. We often assume that fairness means leaving an equal inheritance to each child. However, “fair” does not always mean “equal.” A thoughtful estate plan considers each child’s unique circumstances to create...
Your Family Is Not One-Size-Fits-All; Your Estate Plan Shouldn’t Be, Either
What comes to mind when you think of the typical American family? Today’s families take many different forms: Some are blended through divorce and remarriage while others are built through long-term partnerships, adoption, or fostering. Families may include same-sex...