Blogs

Reporting Requirements for Illinois Non-Profits

If you are a non-profit or a “not for profit” entity, there are a variety of reporting requirements you must make on an annual basis....

Creating a Not-for-Profit Corporation in Illinois

There are many ways that private non-profit entities help and serve our communities. In this article, we will provide a brief overview of the types...

Can Minors Receive an Inheritance in Chicago?

When a person dies, their heirs or beneficiaries may be a minor. However, minors are unable to open a bank account on their own.

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Who can file a claim against an Executor?

Under Illinois law, an individual or business entity may file a lawsuit in probate proceeding. However, the individual or entity must have an actual legal...

Living Wills – What are they and do I need one?

A living will helps a person prepare for a time in which they are suffering from a terminal condition. These conversations are difficult and emotional...

Estate Planning: Intra-Family Loans

Many of our Estate Planning seek methods to help their family members become financially stable. A popular tool to minimize the tax implications, is to...

Probate: What is the Cost?

After a person dies, a probate estate may need to be opened to transfer property. This article will focus on the costs associated with opening...

Transfer on Death Instruments

After a person dies, his or her real property may need to be sold or transferred to a beneficiary of the person’s estate. Real property...

Power of Attorney for Property – An Agent’s Responsibilities

A Power of Attorney for Property document is a very helpful and very effective estate planning tool. You are able to name a person who...

Estate Planning – What is a Will?

In reality, many people think that a will is not necessary unless one has extreme wealth. However, a will can be useful if you have...

The Duty to Account – Illinois Power of Attorney for Property

Your agent will have a variety of duties to ensure that your financial matters and your property are managed properly.

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What are Common Types of Executor Misconduct?

The executor owes a fiduciary duty to the Estate’s beneficiaries. Accordingly, an executor is held to the highest standard of fair dealing and diligence when...