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Buying an existing business can eliminate the initial legwork of establishing a customer base, training employees, and securing start-up funding, but it is not without its own challenges. As a prospective business buyer, part of the challenge is figuring out exactly what you are buying. Read this blog for guidance into buying a business!

A right of occupancy trust allows you to designate a beneficiary to live at your residence or use another piece of real estate for a designated time period or until the beneficiary dies or moves away. However, you must pay close attention to the details associated with the continue utilization of the property. This blog reviews some of the basic information and items to consider and contains a link to a Right to Occupancy Checklist on our website. Call us today to schedule an appointment to incorporate a right of occupancy into your estate plan!

Since there are so many serious questions surround genetic material and its use after a person's death, it is important to consult an experienced attorney who knows your state's genetic material laws and can competently advise you on how those laws affect you and your estate plan. This blog contains some background information to assist you in this process.

In a financial power of attorney, your agent generally has the power to buy and sell property, the power to invest, and powers regarding your retirement benefits. But have you ever thought about the power to gift, the power to make or change your estate plan, or the power to prosecute and defend legal actions. Continue reading to gain a better understanding of the use of these powers in a financial power of attorney.

Want to know more about cryptocurrency and its impact on your estate plan, read this blog!

The fate of your vacation property at your death largely depends on how it is currently owned. And there are many things that you need to consider and address, such as what do you want to happen to the property; can your loved ones afford to keep and maintain the residence; and if more than one person will own it, do those individuals get along. Read this blog for more information about how to address your vacation property in your estate plan.

The farming industry is highly regulated, and navigating the applicable laws and regulations can be far from simple. Those who want to break into the farming business should familiarize themselves with the legal landscape that impacts their operations. Read this blog for a brief summary of legal considerations for farmers and farming operations.

What is a family office and what can it provide to a high-net-worth family. Read this blog for a review of the many benefits of a family office struture.

A spouse's death creates a difficult and demanding time for the surviving partner since the obligation to pay debts does not necessarily go away when a person dies. If the legal duty to pay off a spouse's debt does fall to you, it has implications for your own finances, so you will want to be clear on what the laws are where you live. This blog will provide background information but you really need to contact an estate administration or probate attorney to discuss your individual circumstances.

Review the new laws that took effect on July 1, 2022 for the State of Illinois.

There are a number of considerations that may impact whether your trust can own your business after you die. Read this blog to develop a better understanding and to ensure that you business is distributed the way you want after your death.

If your life or the law has changed since you signed your last will and testament (will) or trust agreement, you need to update your document! Do you know how change are made to wills or trusts? What's the difference between a codicil, amendment and a restatement? Read this blog for answers to those questions and some guidance on when and how to update your estate planning documents.

Estate planning is not just a once in a lifetime event. Your plan is a set of living, breathing documents that can be impacted by many common life events. However, some of those life events can have a dramatic effect on your estate plan. In this blog, we take a look at some common life changes and the impact they may have on your already established estate plan.

For LGBTQ+ Americans, estate planning can be even more important. Despite same-sex marriages being legally recognized since 2015, couples composed of sexual and gender minorities still face estate planning challenges not encountered by other “traditional” same-sex couples. Without a plan, you and your family could be subject to your state’s default or intestate succession law, which may not take into account LGBTQ+ couples’ realities, families, and dynamics. And if your plan was created before 2015, you may need to revise it to ensure that it reflects the latest legal rights granted to married same-sex couples. Read this blog to learn more about the need for an estate plan!

There is no questioning the legacy of one of rock and roll’s biggest icons - Meat Loaf - given his rise to fame, financial "fall" and successful "rebirth". But there are still unanswered legal questions about the fate of Meat Loaf’s estate. Although there is no evidence to suggest that Meat Loaf died intestate (i.e., without a will), we can speculate about his estate plan based on his life, legacy, and available legal instruments. Read this blog for more background on his life, death and legacy.

Even if you do not have a lot of money to leave to your family, you can still leave them a great legacy with seven simple steps. Read this blog to learn more about creating a legacy for your family.

Do you know the valuable estate planning lessons depicted in Disney’s award-winning animated film Encanto? Read this blog to identify the lessons that may apply to your own family circumstances.

Elder abuse can take several forms, such as physical, sexual, emotional, and verbal abuse or caretaker neglect or exploitation. Financial exploitation includes outright theft of money or property, illegal transfers of property, identity theft, and misusing a position of trust, such as through a power of attorney. Read this blog to learn more about financial exploitation of an elderly person to ensure that your loved one does not become a victim.

Camp is a unique experience for both kids and parents. Although the time spent apart can be positive for the parent-child relationship, there are a number of contingencies that families should plan for ahead of time. Read this blog for an overview of things to do to prepare for your child's summer camp this year.

Most of us strive to earn a living to support our families. Stay-at-home parents also work to provide valuable non-monetary contributions to their families everyday. If something were to happen to the stay-at-home parent, how would the family’s needs be met? Read this blog to learn more about the planning you should do now before the worst-case scenario happens to you and your family.

Legal vehicles, such as trusts and LLCs, can be used to manage and protect assets, minimize taxation, and avoid probate. The type of asset will generally determine if a trust or LLC is the best choice; however, you should know that an LLC can be placed in a trust. Read this blog to better understand each type of entity and clear up some common misconceptions about them.

Although there may be a number of good reasons for high-net-worth individuals to create a trust with their children as beneficiaries, the phrase “trust fund baby” immediately brings to mind images of apathetic adults living lavish, substance-abusing lifestyles with no need or desire to work and no purpose or direction in life. Creating a silent trust may be the solution to such nightmarish beneficiary-gone-wrong scenarios.

Naming your child as the recipient of your home in your will does not give them any right to your home while you are still living. However, putting your child’s name on the deed to your home would indeed give them–and their creditors–that ability. Read this blog to develop a better understanding of the differences in these approaches.

Marital assets—including a business—are divided between the parties as part of the divorce process. But determining who the business belongs to and ascertaining its fair market value can be very complex. And, if the business has other owners, a divorce for one owner will probably impact the other owners. To gain more knowledge about issues that need to be addressed when you are a business owner getting a divorce, read this blog.

Don't assume that couples in a domestic partnership have the same rights as married couples when it comes to estate planning! In fact, the state in which you live generally determines a domestic partner's rights. Read this blog to learn more about domestic partnerships and the estate planning issues such partners may face.