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!

How Are My Business Documents Relevant to My Estate Plan?

Studies consistently find that only about 25–35 percent of Americans have an estate plan, a shockingly low rate when you consider that, in the absence of a plan, the state—not you or your family—decides what happens to your assets, including your business interests....

How Do I Create an Estate Plan with an Only Child?

Stereotypes surrounding “only child syndrome” have largely been debunked, as recent studies show that only children, on average, develop social skills similar to those of children with siblings.[1] Further, outdated perceptions surrounding only children have shifted...

Estate Planning for the Newly Married

Now is the perfect time to start working on an estate plan. As newlyweds, you are likely in the process of deciding which of your accounts and property (your assets) to combine and how to turn two households into one. You may also be setting up new bank accounts and...

Pros & Cons to Relying on Life Insurance to Provide for Loved Ones

In an estate plan, life insurance can be used as a source of immediate liquidity for beneficiaries by offering a tax-free, lump-sum payment upon the insured’s death. About half of Americans have a life insurance policy. The primary reason people purchase life...

Michael Jackson’s Estate Sells Music to Sony for $600M

Michael Jackson passed away in 2009, but the settling of his estate continues more than 15 years after his death due to a lingering tax dispute with the Internal Revenue Service (IRS) and other legal challenges, including a lawsuit brought by his mother over a deal to...

The Passing of James Earl Jones

“No, I am your father.” These words, uttered by James Earl Jones in his voice-over role as Darth Vader, are indelible in the minds of Star Wars fans. Jones is also well known for voicing Mufasa in The Lion King and a series of cable news promotions in which he...

Property Sisters: 3 Tips for Every New Homeowner

Congratulations on the purchase of your new home! Whether this is your first home or you are upgrading or downsizing from your current home, the purchase of a home is a big event in your life. When major life events occur, it is important that you have a plan in place...