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March 2017 Archives

What is a land trust?

If you are a property owner in Illinois, you have the option of creating a land trust. According to the Illinois Department of Financial & Professional Regulation, a land trust is a legal situation in which you put the deed to the land in someone else’s name while still retaining all basic ownership and usage rights to the property. You can create a trust at any time by filling out a simple legal document that appoints the trustee.

Important elements of a legal will in Illinois

As a resident of Illinois, you have the right to create a will that is going to serve as your last request for how your estate will be handled upon your death. However, we at Donald R. Johannes want you to understand that wills are regulated by the law of the state, so you need to be familiar with the law to ensure the will you create is legal. If it is not legal, it will not be honored.