Tag Archives: #estatesandtrusts

Navigating the Rule Against Perpetuities in Illinois: Implications for Living Trusts

Estate planning is a meticulous process that requires careful consideration of various legal principles, one of which is the Rule Against Perpetuities. This rule plays a crucial role in determining the validity of provisions within living trusts in the state of Illinois. In this article, we will explore the Rule Against Perpetuities in the context […]

Our Law Firm Represents Clients Seeking Legal Advice in Preparing Estate Documents

🌟 **Secure Your Legacy with Confidence!** 🌟 Are you ready to safeguard your family’s future? Look no further Wator & Associates, P.C., your trusted partner in Illinois for expert estate and trusts documentation. ✨ **Why Choose Us?** 1. **Expertise You Can Trust:** Our team of experienced attorneys specializes in estate planning, ensuring that your wishes […]

The Benefits of Funding Your Estate with Life Insurance

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As an estate planning attorney, I often find that clients have a common misconception: they believe estate planning is solely about the distribution of assets after they pass away. While that is indeed a crucial aspect, it’s equally important to consider how your estate will be funded to meet its obligations and provide for your […]

Understanding the Trust Corpus in a Revocable Living Trust in Illinois

A revocable living trust is a flexible estate planning tool that allows individuals to manage and distribute their assets during their lifetime and upon death. Central to the functioning of a revocable living trust is the concept of the trust corpus, which represents the property and assets held within the trust. In Illinois, the trust […]

🌟 **Unlock Peace of Mind with Expert Estate Planning in Illinois!** 🌟

Are you prepared for life’s uncertainties? Secure your legacy and protect your loved ones with the help of our seasoned Illinois attorney specializing in estate planning! 🔒 Why Choose Us? ✅ **Tailored Solutions**: Our experienced attorneys understand that every individual and family is unique. We provide personalized estate planning services to meet your specific needs […]

Our Firm Assists Clients with Comprehensive Legal Assistance with Trust and Estate Planning

🌟 **Secure Your Legacy with Confidence!** 🌟 Are you ready to safeguard your family’s future? Look no further Wator & Associates, P.C., your trusted partner in Illinois for expert estate and trusts documentation. ✨ **Why Choose Us?** 1. **Expertise You Can Trust:** Our team of experienced attorneys specializes in estate planning, ensuring that your wishes […]

Navigating the Rule Against Perpetuities in Illinois: Implications for Living Trusts

Estate planning is a meticulous process that requires careful consideration of various legal principles, one of which is the Rule Against Perpetuities. This rule plays a crucial role in determining the validity of provisions within living trusts in the state of Illinois. In this article, we will explore the Rule Against Perpetuities in the context […]

Probate Fundamentals – Heir v. Legatee

Some confusion arises in Illinois probate court regarding the difference between an heir and a legatee.   An heir is the person who legally stands to inherit assets in the absence of direction from the decedent.   A legatee is someone the decedent has directed shall receive assets. The usual form of direction noted here […]

Basic Transfer on Death Instrument (TODI) Document Requirements

Pursuant to 755 ILCS 27/40, a TODI must include the following info:   Name(s) of grantor(s) – the people who currently own the real estate;   Name(s) of grantee(s) – the people who will be the beneficial owners once the grantor(s) dies;   Description of the property to be conveyed (address, legal description, PIN number); […]