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!
Estate Planning Awareness – The Lesson Plan for Your Estate
In honor of Estate Planning Awareness Week, we are taking this opportunity to make sure you have the foundational estate planning documents to ensure your own successful future. Below are some basic questions and answers about estate planning and how estate planning,...
Does Treating Your Children Fairly Mean Unequal Inheritances
When thinking through their estate plan and how they want their assets(money and property) managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your...
Minimalism May Be Great For Your Stuff and Finances, But Not Your Estate Plan
In a modern world marked by information overload, overflowing inboxes, nonstop notifications, and the constant pressure to accumulate more stuff, minimalism offers a compelling counternarrative. Born from the mid-twentieth century artistic rebellion and revived in the...
The Lifetime QTIP Trust
Estate planning for couples in a second or subsequent marriage can be tricky, especially if their estates are disproportionate. One solution that allows the more affluent spouse to maintain control of their property and wealth and minimize potential estate taxes—while...
Estate Planning for Military Families
Q1. I had a will prepared when I was deployed last time does that mean that I do not need to worry about it anymore? A: Estate planning is not a one-and-done task. Regardless of how long it has been since you had your estate plan prepared, it is always a good idea to...
What Melting Ice Cream Teaches Us About Estate Planning
Do Not Leave Your Loved Ones with a Sticky Mess There is nothing quite like ice cream on a warm summer day served just the way you like it. You are outside, maybe on a shaded bench or strolling down the boardwalk, sun on your face with a light breeze cutting the heat....
Assisting Your Clients: Elevate Your Client’s Financial Security: Mastering Asset Protection Strategies
Insurance Is the First Line of Defense The United States insurance market, worth an estimated $1.7 trillion,underwrites risks that could otherwise devastate individuals, homes, and businesses.[1] Yet clients sometimes view insurance only as a cost instead of an...
Assisting Your Clients: Is a Domestic Asset Protection Trust Right for Your Clients?
Clients today have more ways than ever to generate wealth. Technology, entrepreneurship, global investing, and digital platforms have created new pathways to financial success that did not even exist a generation ago. The landscape of opportunity has never been...
Assisting Your Clients: 5 Easy Tips to Simplify Your Charitable Giving
Share these tips with your client and add value to your relationship. They will appreciate your providing information that they can use! It is always good to remind them that if they will be donating to charities this year–The Internal Revenue Service (IRS) reminds us...
Assisting Your Clients: Surprise! You Cannot Easily Disinherit Your Spouse
Believe it or not, it is not easy to disinherit your spouse in the United States. In many states and the District of Columbia, you cannot intentionally disinherit your spouse unless your spouse agrees to receive nothing from your estate in a prenuptial,...