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December 2017 Archives

Certifying a trust

Assuming the role of trustee at the request of a family member, friend or associate in Mokena is an awesome responsibility. By doing so, you become inextricably linked to all interested parties to the trust through the duration of time that it remains in effect. Many of those that we here at Zapolis & Associates, P.C. have worked with in the past can attest to the fact that such parties will certainly have plenty of questions for you. The first one is likely to be how you can verify that the settlor did indeed create the trust in the first place. 

Determining a trustee's delegation rights

Previous posts on this blog have detailed the duty that trustees in Mokena have to follow prudent investment strategies when managing trust assets. However, understanding exactly what such strategies may be can be difficult for some asked to assume the role of trustee (particularly if they are chosen from among a settlor's family or friends). They may not be familiar with managing an investment portfolio, and thus want to hand that portion of their duties off to more qualified parties. The question then becomes to what extent does the law allow them to do that? 

Powers of attorney in Illinois

Many people may associate incapacitation with dementia and other mental health issues more likely to affect the elderly. However, a stroke often renders people unable to conduct their own affairs. In fact, according to the American Heart Association, it is the number one reason Americans suffer serious, long-term disabilities.

Misconceptions about property ownership and estate planning

You may have heard that there are a variety of ways to leave your estate to your heirs so that you protect your assets from taxes and probate. Many of these hinge on whose name is on the title or account. Choosing the right type of ownership for your circumstances is essential, but keep in mind that what is "common knowledge" may be a misconception.

What is a will contest?

If you are an Illinois resident who has been disinherited by a family member or otherwise are dissatisfied with the provision of someone’s will, you can challenge the authenticity of the will in court. This is called a will contest. As FindLaw explains, however, contesting a will is rarely successful. Up to 99 percent of American wills go through probate with no problems and no challenges.

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Zapolis & Associates, P.C.
9991 191st Street
Mokena, IL 60448

Phone: 708-390-8936
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