Trusts were once used almost exclusively by wealthy families as a tool by which the family wealth was passed down through the generations, often without paying substantial taxes on the transfer of wealth. Most of those tax loopholes have long since been removed; however, trusts are more popular than ever. In fact, trusts have evolved […]
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How Can I Protect My Adult Children in My Estate Plan?
As new parents, we worry about what will happen to our child if something happens to us. If you are a parent, you probably spent a considerable amount of time when your children were young developing an estate plan that protected and provided for them in the event of your death. Now that they are […]
Steps to Take If You Suspect Elder Abuse
If you have a parent who is in a nursing home, or is otherwise dependent on caregivers, you probably worry about his/her physical and mental well-being. If you are not the one providing all of your parent’s care, it is completely understandable that you would be concerned about the care that is being provided by […]
Federal Estate Tax Basics
One of the most potentially devastating threats to your estate assets is the federal gift and estate tax. Careful planning can help you decrease, or even eliminate, your estate’s exposure to federal gift and estate taxes. An estate planning attorney at Nash Bean Ford & Brown, LLP explains estate taxes, the lifetime exemption, and how […]
Caring for Yourself If You Are Caring for Someone Else
Caring for a loved one with Alzheimer’s disease is an unselfish and honorable undertaking – and one that can result in your own mental and physical exhaustion if you are not careful. It is very easy to forget your own needs when you are providing care to someone who is suffering the agonizing physical and […]
Does Illinois Impose an Inheritance Tax?
Along with making decisions regarding the distribution of your estate assets, your estate plan calls for other important decisions to be made. For example, the impact taxes will have on your plan should also be taken into consideration. Specifically, you need to know if your beneficiaries will owe taxes on the assets they inherit. To […]
Do I Need a Lawyer to Help Me Administer a Trust?
Were you recently informed that you are the Trustee of a trust? If so, and this is the first time you have served as a Trustee, the prospect of administering a trust may sound daunting. That may cause you to wonder if you need an attorney to help you. A trust administration attorney at Nash […]
Inheritance Planning Steps for the Beginner
Inheritance planning, also referred to as estate planning, is something that every adult should begin early on in life. By starting early in life, you ensure that your assets are protected as they grow and that your loved ones are well cared for in the unlikely event that something happens to you. Of course, if […]
What Happens If I Fail to Name an Executor?
For most people, a Last Will and Testament serves as their primary estate planning document. Along with making decisions regarding how you want your estate assets distributed after your death, you will also need to decide who you want to oversee the administration of your estate when you create your Will. What happens, however, if […]
What You Need to Know about Medicaid
If you are at, or nearing, retirement age, and you have never needed to rely on Medicaid to cover your health care costs, you may know little about the program. If so, now is a good time to change that because there is a particularly good chance that you, or your spouse, will need to […]
