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Estate Planning

Revocable Trusts vs. Irrevocable Trusts | What is the Difference Between a Revocable Trust and an Irrevocable Trust?

How Do Trusts Work?

In this article, we will explain the difference between revocable trusts and irrevocable trusts in Illinois.  We will answer the questions, how do trusts work?, what is the difference between a revocable living trust and an irrevocable trust?, what is a revocable living trust used for?, and what is an irrevocable trust used for?  We will also discuss how irrevocable trusts are used to protect assets from creditors, to plan for long-term care, and to minimize estate tax.

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Can a Revocable Living Trust Avoid Estate Taxes?

How Does Estate Tax Work in Illinois?

In this article, we will explain the difference between revocable trusts and irrevocable trusts in Illinois.  We will answer the questions, how do trusts work?, what is the difference between a revocable living trust and an irrevocable trust?, what is a revocable living trust used for?, and what is an irrevocable trust used for?  We will also discuss how irrevocable trusts are used to protect assets from creditors, to plan for long-term care, and to minimize estate tax.

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What is Required for a Will to Be Valid in Illinois?

What is Required for a Will to Be Valid in Illinois?

In this article we will explain what is required for a will to be valid in Illinois and answer the following questions: “what is a handwritten will?”, “is a handwritten will legal in Illinois?”, and “can I make changes to my will without an attorney?”, “what is a holographic will?”, “is a will executed in a different state legal in Illinois?”, and “why should I use an attorney to prepare my will?”

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