BLOGS

IS IT A GOOD IDEA TO MAKE A CHILD THE EXECUTOR OF YOUR ESTATE?

After a person passes away, his or her executor is responsible for managing the estate’s assets, determining what taxes are owed and paying them, distributing any assets to the beneficiaries and determining what debts need to be paid. While working with their Illinois estate planning attorneys, many wonder if they should name one of their children as the executor of their estate. Although this can be beneficial in some situations, parents should make this decision with great care.Qualities to considerAn executor should be honest,...
Twitter Google Linkedin

Navigant’S TOP TEN NEW YEAR’S RESOLUTIONS TO REALLY TAKE CARE OF FAMILY BUSINESS

Most of us make New Year’s resolutions to be a better version of the person we are: thinner, more patient, more organized. This year, how about resolving to take care of family business? Interested? Raise your hand and read the following aloud:Organ Donation: I resolve to make a choice about being an organ donor: Save your family from making hard choices by setting a gift in advance. Specify limitations: no gift, internal organs only, whole body to science. Put donor provisions in a will, sign an anatomical gift declaration and the back...
Twitter Google Linkedin