Hedeker Law

Owning a small business has long been part of the American dream. If you have realized that part of your American dream, it undoubtedly took a great deal of hard work and sacrifice to get your business off the ground.  Now you need to make sure your investment is protected. One way to do that is to include business succession planning in your comprehensive estate plan. If you are not familiar with the concept of business succession planning, there is no time like the present to learn. Toward that end, the Vernon Hills estate planning attorneys at Hedeker Law Ltd. [Read more…]

Your Last Will and Testament will likely serve as the cornerstone of your estate plan; however, if you create a more comprehensive plan, you will undoubtedly include additional estate planning tools and strategies. One of the most common of those estate planning tools is a trust agreement. Trusts have become increasingly popular in recent years due, in large part, to the flexible nature of the trust and the numerous estate planning goals that can be achieved using a trust. If you are contemplating the addition of a trust to your estate plan, be sure to avoid making a common mistake [Read more…]

In the United States, over half of all adults do not have an estate plan in place, despite understanding the importance of having a plan. When asked about why they have yet to create their estate plan, one of the most commonly given responses is that the entire concept is intimidating. This is understandable given the fact that most estate planning concepts and terms are not used outside of estate planning. In an effort to introduce you to some of those concepts and terms, the Lincolnshire estate planning lawyers at Hedeker Law, Ltd. put together the following five frequently asked [Read more…]

If you are married, you undoubtedly wish to protect, and provide for, your spouse in your estate plan. To do that, you also need to ensure that your estate assets are protected within your estate plan first. Specifically, you need to be aware of the impact federal gift and estate taxes could have on your estate if you fail to include tax avoidance strategies and tools in your comprehensive estate plan. Protecting and providing for your spouse within your estate plan becomes a bit more complicated when your spouse is a non-citizen. One tool people often use in this situation [Read more…]

If you are concerned about developing Alzheimer’s disease at some point in your life, you are not alone. Over the last several decades, Alzheimer’s disease has rapidly moved into the number six spot in the top 10 causes of death in the United States. What makes Alzheimer’s even scarier is the fact that we have yet to find a cure nor a way to prevent the disease from developing. While there is no foolproof way to know if you will develop the disease, there are some known risk factors. Read on to find out if you have any of those [Read more…]

As both your assets and your family grow, your estate plan should grow with them. You will soon find that a simple Last Will and Testament is not sufficient to meet all of your estate planning needs and goals. One of the most common additions to an estate plan is a trust agreement. The type of trust you establish will depend on your goals and objectives. If you are married to a foreign national, or non-citizen, your estate planning attorney may suggest that you include a Qualified Domestic Trust, or QDOT. Only your Illinois estate planning attorney can help you decide [Read more…]

Not all that long ago, trusts were used almost exclusively by the wealthy because loopholes in the law allowed a trust to be used to transfer wealth without paying taxes on that transfer. Although those loopholes have long since been closed, trusts are now more popular than ever and are routinely found in the estate plan of the average person. If you were recently notified that you are the Trustee of a trust created by a family member or friend, and you have never acted in the role of Trustee before, you probably do not know what is expected of [Read more…]

If you are a senior yourself, or you are the caregiver for someone who is, you need to know as much as possible about elder abuse and neglect because knowledge is power. One type of elder abuse is particularly pervasive in the United States – financial abuse or exploitation. Although financial abuse does not leave physical reminders with a victim, the aftermath of financial exploitation can be devastating, both to a victim and to the victim’s family. In an effort to help you avoid becoming the victim of financial exploitation, the Lincolnshire elder law attorneys have put together some useful [Read more…]

Your estate plan will likely be among the most important set of legal documents you create and execute over the course of your lifetime. When properly drafted, an estate plan can not only create the framework for the distribution of your estate assets when you are gone, but protect and grow those assets during your lifetime as well as ensure that loved ones are provided for in the event that something happens to you. To help ensure that your estate plan is a success, the Lincolnshire estate planning attorneys at Hedeker Law, Ltd. have created the following list of common [Read more…]

Are you one of the millions of Americans who has yet to create an estate plan? If so, you are not alone. Surveys tell us that although most people understand the need to have an estate plan in place, over half of all Americans do not have one. People offer a number of explanations for their lack of an estate plan, most of which boil down to not knowing how or where to start with their estate plan. The Lincolnshire estate planning lawyers at Hedeker Law, Ltd. have seen first-hand the confusion that follows when someone becomes incapacitated or dies [Read more…]