If you are an Illinois resident whose spouse, adult child or other loved one seems to have difficulty making decisions about the conduct of his or her own life, (s)he may be a candidate for a guardianship. As the Illinois Guardianship & Advocacy Commission explains, the courts often appoint a guardian, i.e., a substitute decision maker, for someone suffering from a physical, mental or developmental disability or deterioration.
How can I choose the best trustee?
Trusts are an essential estate planning tool. One important element of a trust is selecting the trustee, who is the person responsible for managing your affairs after you're gone. As a result, it's crucial that you select a person who can capably fulfill this role. AARP explains what to look for when seeking a trustee in Illinois.
Estate planning scams to look out for
If you're creating an estate plan in Illinois, being taken advantage of is probably the last thing on your mind. Unfortunately, it does happen and if you aren't aware of common tricks and scams you could fall victim (and lose quite a bit of money in the process). Forbes offers the following information on a few of the more recent scams and how you can steer clear of them.
5 tips for trustees
Being a trustee comes with many responsibilities. You may have concerns about it being overwhelming. As a trustee, you have a legal duty to carry out the terms of the trust. While acting as a trustee is not for everyone, there are some guidelines you can follow to make it easier.
