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October 2019 Archives

Why estate planning should include intangible assets

It is not easy to know what type of legal and financial protections may be necessary for a person in the future. This is one reason why estate planning can be complicated for some Illinois adults. When drafting estate plans and getting important documents executed, a person will find it helpful to think beyond his or her money and health care wishes and also consider digital assets.

Estate planning for unmarried, child-free Illinois residents

More and more individuals are choosing never to marry or to settle down. That doesn't mean they don't spend many happy years doing the things they enjoy, having solid careers and building fulfilling lives. Such Illinois residents should still consider giving thought to estate planning. Having one's personal affairs in order is essential whether one is married or not or whether one has children or not.

Trusts: What do trustees in Illinois actually do?

Most individuals understand what a trust is even though they might not completely understand the dynamics of various trusts, but what about a trustee? What exactly is the role of a trustee in Illinois when it comes to administering trusts? Essentially, a trustee can be a person or an organization holding the legal title of one or more assets for another person, known as the beneficiary. Specifically, a trustee's role is indicative of the type of trust and what is included in that trust.