It sounds like a scenario from a nightmare. Your children are ready to gain access to the assets in your trust after you die, only to discover that the trust is empty. That means the assets you intended to pass on to your children without a problem will instead go through probate. To avoid having this nightmare occur, Illinois residents should be aware of the steps they must take when they form their trusts.
What are some tips for grandparents raising grandchildren?
For various reasons, grandparents may end up with custody of their grandchildren. It can be a challenge to transition back into a parental role, especially for older people. CreatingaFamily.com offers the following tips to ensure grandparents can care for kids while also properly caring for themselves.
3 methods of reducing estate tax
When you put together an estate plan, odds are, one of your goals is to leave as much of your legacy behind for your family and loved ones as you possibly can. Regrettably, however, estate taxes, or the taxes assessed against an heir’s inherited amount from an estate, can eat up a substantial portion of what you wish to leave behind.
The negative effects of domestic violence on children
When children in Illinois are part of a family where there is domestic violence, they are undoubtedly affected in ways that could influence how they respond and react to certain triggers for the remainder of their lives. Understanding the negative effects of such violence on children is critical to realize the dire need of getting them help before it is too late.
