Couples may decide to bring their marriage to an end for all sorts of reasons, such as incompatibility or infidelity. Our law office knows how challenging divorce can be, especially for those with significant assets or kids. However, there are other legal matters that you may need to take into consideration if you are dealing with the end of your marriage. For example, estate plan revision may be necessary for a number of reasons. If you need to make changes to your estate, it is imperative to promptly address any areas of concern and make sure that your estate plan matches your wishes.
You could benefit from having a solid estate plan in place. We are confident in that statement for many reasons, but mostly because we believe planning ahead is a good way for nearly everybody to help their loved ones navigate complex issues. However, there are many ways to deal with estates in Illinois. Many find that the process becomes complicated very quickly. To ease this confusion, we make a point of pairing the right strategies with each client we take on here at Howard and Hardyman LLP.
Illinois residents will approach estate planning with different levels of knowledge and experience. While planning out the future of their estate is a breeze for some people, for others, the steps and terminology involved will seem daunting to figure out. Fortunately, you can rely on the expertise of a qualified estate planner to get you through the process, but pitfalls may remain if you are not careful.
As an Illinois parent, you want to be fair to each of your children when, upon your death, your assets are distributed to them. But as you draft your will, you find problems with giving your children equal shares of what you have. For instance, you may own a sailing ship but two of your children enjoy boating activities. So how can you give your children an equal share of your boat when you possess just one boat? Sometimes it is not possible to equally distribute all of your assets to your children, which can put you in a troublesome situation.
Illinois residents who are preparing their final will and testament should become acquainted with the role of an executor. An executor will be the person in charge of carrying out the will once the testor passes away. The duties of an executor are many and varied, and whoever is picked for the job should be trustworthy and able to carry out the duties of the position.