Linda Strohschein says, “Failing to plan, is a plan to fail.” Planning ahead through the use of a Trust can be complicated, but the time and effort to do them right are more than worth it. With proper planning, you will be confident that you’ve taken the best steps possible to protect what matters the most – your loved ones and your family’s financial security. Call Strohschein Law Group today, 630-377-3241
It’s a useful exercise to make sure that you understand what is in your trust. Other issues, particularly those related to tax issues, will require consulting with Linda Strohschein. We are hosting a free lunch and learn about the different types of trusts and how to best reach your estate planning goals this Thursday, January 23rd. RSVP today!
Probate occurs when…
Probate will be required when the Decedent leaves assets over $100,000 to be collected that does not name a beneficiary, a joint tenant or co-owner. Probate begins any time following death and will last for a minimum of six months. Probate can extend for many years based on the parties and the issues involved.
A trust is an agreement that you have with yourself that sets out the instructions for how your money will be managed both during your lifetime and after your passing. In many cases, individuals will benefit from having a trust, but not everyone needs to have one. However, the more you know about trusts, how they work and what their benefits are, the easier it is to understand if you need one or not. The following are common misconceptions about trusts.
Often times when a relative dies it is not the financial assets that can break a family apart, it is the little things that cause the most animosity. Recently I read an article about an item that had caused…
Digital assets are any file on your computer in a storage drive or website and any online account or membership (John Conner, Texas Tech University School of Law). If you have ever saved a file onto a computer, made an online account, or downloaded a song from iTunes, then you have a digital asset.
Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan; however, estate planning is for everyone, regardless of age or net worth.