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Problems Created When No Will Available

People who have had a serious case of COVID-19 are 66% more likely to engage in estate planning, and 32% of adults under 35 said they wrote a will because of the pandemic.
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What Is a QTIP Trust?

A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust's assets are split up after the surviving spouse dies.
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Why Estate Plans Are So Important

The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
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Gifting Money on Your Deathbed.

One sure-fire way your clients can reduce the size of their taxable estate is to give gifts to loved ones while they’re still alive. But when are ‘deathbed gifts’ considered to be complete for estate and gift tax purposes?
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Less Restrictive Alternatives than Guardianship

Although laws vary from state to state, every state requires that less restrictive alternatives be considered before invoking a guardianship. These might include such vehicles as limited guardianships, powers of attorney or assisted decision-making agreements.
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Estate Planning for the Unexpected

Does a person need a Power of Attorney document if that person already has a Last Will and Testament (‘Will’)? It is a good question.
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Co-Executor won't Abide by Father’s Will?

My father left his house to me and my sister. However, 75% is supposed to be for me and 25% for her. Because she feels that was unfair, she’s fighting with me about selling the house.
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Can Unequal Inheritances Be Fair?

The important thing to acknowledge is that the emotions behind the reasons are not trivial, but are important and should not be dismissed or minimized.
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Retirement and your Special Needs Child

People with children who cannot support themselves need to think well past their own lifetime and figure out how to provide for children after they are gone.
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How To Minimize Your Probate Estate

Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.
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