BLOGS

WHO GETS WHAT?

Great-grandma’s favorite necklace….Grandpa’s monogrammed cuff-links…your favorite family portrait.  Who will inherit these treasured items after you’re gone?  If you have children, chances are that your Will leaves all of your “personal effects” to your children in equal shares as they shall agree, or something along those lines.  If you do not have children, perhaps you wish to leave these things to your nieces or nephews, siblings, or a certain dear friend.  But how will they be distributed?  Who will decide who gets wh...Read More
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MOTHER’S AND FATHER’S DAY

Spring has finally arrived (hopefully to stay for a while!).  And spring means Mother’s Day and Father’s Day are right around the corner.  Maybe you’re a parent.  Even if you don’t have children of your own, maybe there are other people in your life who are like children to you.  Perhaps your parents are no longer here, or maybe you don’t get a chance to see them as often as you would like.  Maybe you have in-laws or others who are like parents to you.  Whatever your “family” looks like, this is the perfect time to consi...Read More
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WHAT IS A FAMILY LETTER?

April is National Letter Writing Month. While letter-writing has largely gone by the wayside with the advent of email, texting and social media, one letter you may want to consider still writing is a so-called “Family Letter.” What is a Family Letter? It is a letter you write to your family, to be read by them after your death or disability. But why write one? If you have already executed, or are considering creating, a Will, a Trust, Powers of Attorney, or any other estate planning documents, you should think about the reactio...Read More
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UNEXPECTED MEDICAL EMERGENCIES

ARE YOU PREPARED FOR THE UNEXPECTED? We all have schedules and appointments to keep. Our days are filled with work and family responsibilities, important meetings, get-togethers with friends and family, and maybe even a little “downtime” here and there, if we’re lucky. We plan our lives, both for the short-term and the long-term. You may think you have it all figured out, that everything is under control and you’re running on auto-pilot to accomplish everything. That is when the unexpected can happen. In all of your planning, ha...Read More
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ESTATE PLANNING UPDATE: NEW TAX LAW

By now, you have probably heard plenty of news coverage about the Tax Cuts and Jobs Act of 2017 (“TCJA”).  The new law includes many changes to individual and corporate tax rates, deductions and other rules.  While there was also much discussion about repealing the federal estate tax, the final tax bill does not repeal estate tax.  Thus, there is still a federal estate tax.  Additionally, the Illinois estate tax remains unchanged. The TCJA doubled the federal estate/gift tax exemption for individuals, from $5 million to $10 milli...Read More
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