There is no easy answer to this question in a brief paragraph, but for most people a Living Trust is a better option for long term protection; whether you are single, have a partner, are married, and perhaps also have a child or children. A Living Trust provides greater flexibility for future changes in one’s life to be incorporated in to your Estate Plan; changes such as financial growth, family issues, inheritance, and the like. An initial appointment to explore your Estate Planning needs is free of charge, and this will give us the opportunity to explore what is best in detail. So please contact me to set up an appointment, I look forward to hearing from you.
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 […]