When you hear people talk about the need for inheritance planning or estate planning you may be under the common misperception that you need to have an actual inheritance built up before the need to create a plan arises. In reality, however, inheritance planning should start much earlier than you likely thought. In fact, it is never to early to get started on your inheritance plan because a well thought out plan will do much more than just govern the distribution of the inheritance you will eventually leave behind. A Waukegan inheritance planning attorney at Hedeker Law, Ltd. explains why [Read more…]
Inheritance Planning Goals
If you are one of the millions of Americans who have yet to create an estate plan, there is no time like the present to get started. Like many of your fellow procrastinators, you probably have not started on your plan yet because you don’t know how to get started. Inheritance planning sounds easy enough when you are contemplating your plan; however, it becomes much more complex and confusing when you actually sit down to try and get started. This is one of the many reasons why you should work closely with an experienced inheritance planning attorney when you do [Read more…]
Inheritance Planning Steps
If you are one of the millions of Americans who have yet to get started with inheritance planning, there is no time like the present to get started. Like many of your fellow procrastinators, you probably have not started on your plan yet because you don’t know how to get started. It sounds easy enough in the abstract; however, when you actually sit down and try to put together an inheritance plan, it becomes much more complex and confusing. This is one of the many reasons why you should work closely with an experienced inheritance planning attorney when you do [Read more…]
Inheritance Planning for the Beginner
Whether you have already amassed a fortune, or you are just getting started, you undoubtedly want to be the one to decide who gets your assets if something happens to you. Despite knowing that you need to get started with your inheritance plan, you have not yet done so. If you are like many people, your reason for procrastinating is that you are not sure how to get started. A Waukegan inheritance planning attorney from Hedeker Law, Ltd. offers some tips to help motivate you with your inheritance plan. Do not go the DIY route. In the 21 century, it [Read more…]
How to Handle a Beneficiary with a Drug Problem in Your Estate Plan
For most people, inheritance planning focuses on the distribution of estate assets after death. As such, when you create your plan you will need to decide which assets to gift to which beneficiary. What do you do, however, if you have a beneficiary, who has a drug or alcohol addiction? Is gifting them assets from your estate akin to throwing those assets down the proverbial drain? If the beneficiary in question is your child, completely disinheriting your child may not be an option; however, neither is squandering the assets you spent a lifetime working to acquire an option. The Lincolnshire [Read more…]
When Should Inheritance Planning Start?
Inheritance planning, also referred to more broadly as “estate planning,” is something that everyone should engage in at some point. One of the biggest questions – and biggest misconceptions—relates to exactly when inheritance planning should start. In fact, among the most common mistakes people make is putting off the creation of an inheritance plan because they are under the (mistaken) impression that they do not need one yet. To help you avoid making the same mistake with your estate and your future, the estate planning attorneys at Hedeker Law, Ltd., explain when inheritance planning should begin for everyone. What Is [Read more…]
Waukegan Estate Planning Attorneys Discuss After-Born Children
For many people, one of the primary reasons for creating an estate plan is to provide for loved ones, specifically children, in the event of their death. If you are one of those people, you have probably gone to great lengths to create a Last Will and Testament or trust agreement that is very clear with regard to who your children are and what you wish them to receive from your estate. What happens, however, if you have another child after you execute your Will? What happens if a child of yours is born after your death? Or the biggest [Read more…]
