Hedeker Law

When the rich and famous die – often under tragic circumstances – truly epic battles over the estates they leave behind frequently follow. Sadly, some of the best estate planning lessons can be learned from celebrity cautionary tales. Consider the following well-known estate planning mistakes and the lessons we should all take away from the battles that followed as a result of those mistakes. Prince Rogers Nelson:  The Importance of Having an Estate Plan The famous singer known simply as “Prince” died at the relatively young age of 57 back in April of 2016. Along with being shocked at the [Read more…]

Despite acknowledging the need to have an estate plan in place, more than half of all Americans have yet to start on their estate plan. One common explanation for this apparent disparity is that the average person finds the idea of creating an estate plan intimidating. While an estate plan can become extremely complex as both your family and your estate grow, a basic estate plan is not usually as complex and difficult to understand as people frequently envision it will be. Just as you would approach any project, taking the creation of an estate plan one step at a [Read more…]

One of the most common reasons given for not having an estate plan in place is the (mistaken) belief that one is only needed if you have considerable assets. Following that logic, you might assume that anyone who does have substantial assets would have a well thought out plan in place. In reality, however, that is not always the case. In fact, some very well known and well off celebrities have died and left behind estate planning disasters. The rest of us can learn some important lessons from the heartache, conflict, and struggles their loved ones were faced with as [Read more…]

When Richard Pryor passed away in 2005, the world lost one of its funniest – and most controversial – comedians. As is often the case when a large estate is involved, Pryor’s death triggered a family feud that was ignited again recently following comments made about Pryor by Quincy Jones. Whether you agree with the outcome of the litigation or not, the facts and circumstances that led to the litigation provide some valuable estate planning lessons for all of us. Quincy’s Comments The latest round of feuding between Richard Pryor’s widow and his daughter followed comments made by Quincy Jones [Read more…]

Creating a well thought out estate plan is one of the best gifts you can give to yourself and to your loved ones. If you are new to estate planning, however, it is easy to make a mistake. In an effort to prevent you from making one of those mistakes, the Lincolnshire estate planning attorneys at Hedeker Law. Ltd. discuss the top estate planning mistakes. Waiting Too Long to Start Planning One of the biggest misconceptions when it comes to the need for estate planning is the idea that you need to reach a certain point in your life or [Read more…]

For many people, becoming a grandparent is one of the single most exciting, and joyful, moments of their life. Becoming a grandparent also yet another opportunity to influence the life of a child with the advantage of having previous experience. If you are a grandparent who dotes on the grandkids, the odds are good that you will also want to include your grandchildren as beneficiaries in your estate plan. When it comes to gifting to your grandchildren, you may wish to consider the following tips from the Waukegan estate planning attorneys at Hedeker Law, Ltd.: • Gift while you are [Read more…]

For most people, a Last Will and Testament is the first estate planning document they create. That Will may continue to serve as the foundation of their estate plan in the years to come, or it may be replaced as the foundation document by a trust agreement. For some people, a simple Will by itself is sufficient; however, most people find that they need more than just a simple Will at some point. How do you know when you have reached the point where a simple Will is no longer enough? The Lincolnshire estate planning lawyers at Hedeker Law, Ltd., [Read more…]

Older Americans, defined as those age 65 and older, are by far the fastest growing segment of the American population. In fact, experts tell us that by the year 2050, the number of older Americans will exceed the number of younger Americans (age 21 and younger) for the first time in history.  Each year, the month of May is designated as “Older Americans Month” in the U.S. and provides an opportunity to celebrate, get to know, and honor our older family members, friends, and neighbors. It also serves as a reminder to review and revise your estate plan if you [Read more…]

Hopefully, you recognize the need to have a comprehensive estate plan in place as well as the advantages to working with an experienced estate planning attorney during the creation of that plan. What you may not know, however, are the numerous and varied other ways that estate planning lawyers can help you. Learning some of the additional ways in which an estate planning lawyer can help you may be beneficial to you now and/or in the future. Trust Administration A trust is a relationship whereby property is held by one party for the benefit of another. A trust is created [Read more…]

Creating a well thought out estate plan is one of the best gifts you can give to yourself and to your loved ones. If you are new to estate planning, however, it is easy to make a mistake. In an effort to prevent you from making one of those mistakes, the Lincolnshire estate planning attorneys at Hedeker Law. Ltd. discuss the top estate planning mistakes. Waiting Too Long to Start Planning One of the biggest misconceptions when it comes to the need for estate planning is the idea that you need to reach a certain point in your life or [Read more…]