What Are the Capacity Requirements to Execute Estate Plan Documents in Illinois?

What Are the Capacity Requirements to Execute Estate Plan Documents? If you have a loved one suffering from Alzheimer’s, dementia, or cognitive issues related to a stroke, mental illness, or other disorders, it is important to determine whether that individual has the capacity to execute an estate plan. The documents associated with an estate plan

How Are Heirs Determined in Illinois?

How Are Heirs Determined in Illinois? An heir is someone who is legally entitled to receive property upon a person’s death. Every state gets to decide who the natural heirs of a decedent are, and the states will publish their own laws of descent and distribution outlining heirship.  The laws of descent and distribution are

Is my Will Valid in Other States?

If I Move to Another State is my Will Still Valid?  If you had your Will created in Illinois but plan on moving to another state in the future, there are many things to consider. If your Will was validly executed in Illinois, then other states should honor it. If it was not validly executed

What is the Illinois Estate Tax?

What is the Illinois Estate Tax? Many Illinois residents are surprised to learn that Illinois has an Estate Tax separate from the more familiar Federal Estate Tax. The Illinois Estate Tax provides for a $4,000,000 exemption from tax per estate. If you have more than $4,000,000 in assets, it is important to speak with an

What is a UTMA Account?

What is a UTMA Account?  If you have minor children, you may have heard of a UTMA account. UTMA stands for Uniform Transfer to Minors Act, and it governs how the money of a minor should be handled for the minor’s benefit. The UTMA permits the use of a UTMA account, which is a type