Estate planning may sound like something you don’t need to think about until you are approaching later stages of your life, or something only the top 1% need to take care of. This is a serious — and common — mistake....more
Many people mistakenly believe they can transfer their home to their children while retaining the right to continue living in it for the rest of their life, and remove a substantial portion of the home’s value from their...more
If Valentine’s Day results in the announcement of an engagement for one of your children, lawyers say it’s time to start thinking about how your own legal affairs are structured.
And while you’re at it, you may need to...more
With the introduction of the American Taxpayer Relief Act of 2012 (Act), the world of estate planning has been injected with a dose of certainty after more than 10 years of uncertainty as to federal estate, gift and...more
In This Issue:
- How to Protect Your Assets as a Business Owner
- Separated But Not Divorced: Don’t Wait to Update Your Estate Plan
- Tales from the Cliff: Estate Planning Policy for 2013 and Beyond
In Estate of Lira (--- Cal.Rptr.3d ----, Cal.App. 2 Dist., December 26, 2012), a California court of appeal considered whether statute allows an attorney who was related by marriage at the time of the drafting of a will, but...more
Many people have the misconception that they cannot update their estate plan or even prepare a new Will if they are separated but not yet divorced from their spouse. This is not true. An estate plan can be updated at any...more
Friday morning, a unanimous Illinois Supreme Court held that in most cases, a tort claim for intentional interference with testamentary expectancy is not subject to the six-month statute of limitations on will contests....more
A relatively quiet Illinois Supreme Court gave little indication of its leanings last week during oral argument in DeHart v. DeHart....more
This afternoon, the Illinois Supreme Court announced that it will file two new civil opinions on Friday morning:
Poris v. Lake Holiday Property Owners Association, No. 113907 – (1) May a property association authorize...more
In Estate of Wilson ( --- Cal.Rptr.3d ----, Cal.App. 1 Dist., December 13, 2012), a California court of appeal considered whether the marriage of a same-sex couple, during the period when same-sex marriages were allowed in...more
Every competent person has the right to decide what happens to their property after they die.
However, the elderly may not completely understand what is involved in making a will or changing an existing one. Unscrupulous...more
Your spouse or partner has just passed away. Coping with the loss of your loved one will be difficult. It is important that you allow yourself time to grieve.
As soon as you’re able, it is also vitally important to...more
Your aunt has just died. She has named you as estate trustee (or executor) of her estate. She has what you would consider to be a modest estate, and you and several other nieces and nephews are the beneficiaries.
In Roberts v. Wilson, the El Paso Court of Appeals ruled that the wife of a beneficiary under a will was entitled to her husband’s interest in real property because he survived his parents and the bequeath did not have a...more
Q&A on Estate Planning, Probate, and Business Formations...more
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