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Your mortgage, like the rest of your debt, does not simply disappear when you die. If you leave your home that has an outstanding loan to a beneficiary in your will or trust, your beneficiary will inherit not only the property but also the outstanding debt. They may have the right to take over the mortgage and keep the home, or they may choose to sell it and keep the proceeds. A few different scenarios can unfold, however, depending on the mortgage terms and the estate plan i

When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may depend on your unique relationships with loved ones and your family dynamics. Sharing your estate plan with your loved ones can compromise the privacy of your financial and personal information. Some people therefore

You have two primary options for leaving an inheritance to a child. The most straightforward is to give it to them in a single lump sum, with no strings attached. But this might not be the best option for some children. You may be concerned about the child’s ability to handle the money responsibly, fear they will spend it in pursuit of a cause you do not support, want to avoid the need for a court-ordered conservatorship to manage the funds if the children are minors, or have

Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because probate involves the court system, most filings become a  matter of public record. That means your nosy neighbor Nellie can simply go to the courthouse or hop online to learn all about your probate estate, including what is in your will, who will inherit from you and how, as well as information about the accounts an

It has been said that the only thing harder than being an addict is loving one. It can be particularly difficult for a parent to bring a child into the world, full of hopes and dreams about their future, and then watch them spiral down into addiction. Having someone in your life who struggles with substance abuse is never easy, no matter the circumstances, the relationship, or their age. Estate planning often involves dealing with difficult situations. Putting off thinking ab

Your estate plan is one of the most important sets of legal tools you will ever create. An estate plan is designed to protect you, your loved ones, and your money and property. It can minimize taxes and fees and ensure that your loved ones are taken care of. Depending on the estate planning tools you use, it can also keep your personal matters out of the court system and away from prying eyes. However, an estate plan is not a “set it and forget it” set of legal tools. While e

Why Proper Estate Planning Matters More Than Ever If you’re considering your estate planning options in Illinois, there’s an important...

No one likes thinking about death or incapacity, but failing to plan for these inevitable life events can leave your Schaumburg family...

Estate planning isn't just for the wealthy or elderly—it's a crucial step for anyone who wants to protect their family's future and...

Estate planning is about protecting what is important to you. Although much of the traditional estate planning conversation focuses on...

Studies consistently find that only about 25–35 percent of Americans have an estate plan, a shockingly low rate when you consider that,...

With the increased coverage of artificial intelligence (AI) and all of the applications it can have in our everyday lives, some people...

For many, Memorial Day weekend signals the beginning of summer and enjoying warm-weather activities, including backyard barbecues with...

An estate plan that includes a revocable living trust is an excellent way to protect yourself and your loved ones upon your passing or in...

The Federal Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to provide guidelines to the healthcare...

So Your Family Always Gets Along? You Still Need an Estate Plan In many families, everyone gets along, happily gathering for the...

Now is the perfect time to start working on an estate plan. As newlyweds, you are likely in the process of deciding which of your...

Congratulations! Your child is now legally an adult. Your legal authority over your 18-year-old is limited, if not completely...