A health care proxy is a person you appoint to make important medical decisions when you're no longer able, usually due to incapacity brought on by injury or illness. Even if you have documents in place stating your wishes, these may be disputed by your family. Because decisions related to your medical care are so crucial, Forbes offers the following guidance.
As resident in Illinois, you may be considering setting up a trust, but you're also likely wondering what your options are. Today, we'll take a look at a few types of trusts so you can better determine which would be best for you.
A trust can be an excellent addition to your estate plan. You have two basic choices: revocable or irrevocable. The names pretty much explain what they are. You can change revocable trusts, but you cannot change irrevocable trusts. While revocable trusts are often the best choice, there are some situations, according to US News and World Report, where irrevocable trusts are the best choice.
If you're currently estate planning in Illinois, you probably know how important these documents are. While it's crucial you have an estate plan in place, it's also important that you take the proper steps to avoid common mistakes, which can render things like wills and trusts invalid. U.S. News & World Report offers the following advice in this case.