by Lauren Jackson | Jul 8, 2024 | Attorney, Beneficiary, Estate Planning, executor, Joint Trust, Lawyer, Probate, Trusts, Wills
A question during the probate process evolves around what happens to debt after your parents die. Are the children responsible for their parents’ debt? In most cases, children are not personally responsible for parents’ debt when they die. However,...
by Lauren Jackson | Sep 30, 2023 | Attorney, Beneficiaries, Beneficiary, Estate Planning, executor, Guardian, Lawyer, spendthrift trust, Supplemental Needs Trust, Trustee, Trusts
Over the years I have had clients who wish to leave assets or money to a beneficiary who is either on disability or doesn’t have the wherewithal to manage his or her own finances. If you want to leave money to someone, but are worried the beneficiary won’t use or...
by Lauren Jackson | Feb 3, 2021 | Beneficiary, Estate Planning, Revocable living trust, Supplemental Needs Trust
What is the best way to leave assets to minor children? Well, that depends on the testator’s intentions and risk level, but there are a few options and basics to keep in mind: In Illinois, children under age 18 may inherit property, but can’t enter contracts and...
by Lauren Jackson | Jul 4, 2019 | Beneficiary, Estate Planning, Supplemental Needs Trust
If you are parents or grandparents to children who have special needs, you may have a lot of questions regarding what can and should be done to prepare for their continued care after your passing. The biggest question I answer for people is what needs to be done...
by Lauren Jackson | Mar 30, 2019 | Beneficiary, Estate Planning, Probate, Real Estate
Occasionally, I have a case brought to my practice where a homeowner has died and had no known family members to whom the house should transfer. In this case, there are a few different options for how to handle the future ownership of the house. If the homeowner...
by Lauren Jackson | Oct 10, 2018 | Beneficiary, Estate Planning, executor, Probate
An Executor for an estate is the person or entity chosen to carry out final wishes as stipulated in a will. Some of an executor’s responsibilities include: filing the will with the county clerk after the death of the testator, ensuring all debts/claims have been paid,...
