Changes and Proposed Changes to the Trust Law for 2025: As of January 1, 2025, several significant amendments to Illinois trust law have come into effect, impacting trustees, beneficiaries, and estate planners. These changes aim to enhance the management and administration of trusts within the state. Trustee Responsibilities for Unclaimed Property Senate Bill 3343 (SB […]
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Probate can seem like a daunting legal maze, but understanding the steps and requirements in Illinois can help simplify the process. Probate is the court-supervised administration of a deceased person’s estate, ensuring debts are paid and assets are distributed to rightful heirs. While some estates may qualify for simplified procedures, most will follow the standard […]
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As the legal and financial landscape evolves, keeping your estate plan up-to-date is crucial for safeguarding your legacy and protecting your loved ones. Recent changes to Illinois laws and federal tax regulations make now the perfect time to review your estate plan. Adapting to Changing Tax Laws Illinois estate tax laws can significantly impact larger […]
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Real estate transactions are significant financial decisions that require careful attention to detail. Whether you’re buying your first home, selling a property, or investing in commercial real estate, even small mistakes can have big consequences. Here’s how to avoid some of the most common pitfalls in Illinois property transactions: Inadequate Due Diligence Buyers and sellers […]
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