Property Sisters: Beware of Unequal Contributions When Purchasing a House

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Palos Park Property Sisters, Wills & Trusts

At a time of record home unaffordability, more people are teaming up with friends and relatives to realize the home ownership dream. According to the National Association of Realtors (NAR), more than 75 percent of homes on the market now are too expensive for...

Should You Share Your Estate Planning Details With Loved Ones?

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Wills & Trusts

When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may...

Do Not Leave Your Trust Unprotected: 6 Ways a Trust Protector Can Help You

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Wills & Trusts

Trust protectors are commonly used in the United States. Essentially, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for a long period of time. Trust protectors ensure that trustees maintain the integrity of the...

Decanting: How to Fix a Trust That Is Not Getting Better with Age

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, Life Insurance, News, Wills & Trusts

While many wines get better with age, the same cannot be said for some irrevocable trusts.  Maybe you are the beneficiary of a trust created by your great-grandfather over 70 years ago, and that trust no longer makes sense. Or maybe you created an irrevocable...

5 Good Reasons to Decant a Trust

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, Life Insurance, News, Wills & Trusts

Today, many estate plans contain an irrevocable trust that will continue for the benefit of a spouse’s lifetime and then continue for the benefit of several generations. Because trusts like these are designed to span multiple decades, it is important that they include...

3 Examples of When an Irrevocable Trust Can—and Should—Be Modified

by Eileen Kerlin Walsh | Dec 22, 2023 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Wills & Trusts

Did you know that irrevocable trusts can be modified? If you did not, you are not alone. The name lends itself to that very misconception. However, the truth is that changes in laws, family, trustees, and finances can frustrate the trustmaker’s original intent when...