The answer is yes, if you have minor children, you absolutely need a guardian in place in case of your passing. If you have minor children it is imperative that you name family members or very close friends to act as Guardians for you children.
Failure to do so could necessitate a Probate Court becoming involved in the decision making process of who shall be the Guardians. Those named by a Probate Court may or may not be who you would choose; additionally, the court process itself may be a source of family conflict, something no family needs in what is already a very difficult time.
Avoid this heartache for your family by naming your children’s Guardians in your Living Trust, which I am have been creating and maintaining for my clients for 30 years. Please contact me at no risk to discuss how I can help you with your Living Trust.
While there is no legal requirement in Illinois that a Lawyer has to be hired by a home seller, as a practicality it is nearly impossible and certainly ill-advised to represent oneself. There are many documents that need to be drafted, almost all of them fairly complex and detailed. Additionally, the negotiations that often occur […]
When I meet with prospective Estate Planning clients for the first time, it is very common for most people to believe that an effective Estate Plan must be complicated. This is generally not the case. A well drafted document – whether it is a Will or a Living Trust – should be not only legally […]
This unfortunately happens far too often. As people age, sometimes their ability to safeguard their assets diminishes. Fortunately there are laws to protect senior citizens, and each case of potential financial abuse is unique based on the facts at work. Parents, aunts/uncles or close friends who are seniors may often be reluctant to share information […]
If you have a living trust in place, it can probably be amended. It is, however, completely dependent on whether it is what is known as a Revocable Trust. The majority of Trusts are revocable in nature, which is the legal wording used to also indicate that they are amendable, or can be changed. This […]