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What Is Estate Planning And Why Is It Important?
You work hard for your estate and it is important to develop a plan so that your property is passed on to the people that you care about. Estate planning is crucial to assuring your assets go where you want them to. Without a proper plan, your assets can be handed over to someone unintended and your loved ones can be tasked with the challenge of determining how to split your property. What Is An Estate? A common misconception is that estate planning only benefits wealthy...
Are Wills And Trusts The Same Thing?
If you have property, financial assets, or children, it is important to make sure that you create a legal plan for your estate. Two processes you can take to make sure your intentions come to fruition are creating wills and trusts. Wills and trusts are legal documents created with the required assistance of attorneys that direct how your property will be handled. Though there are many similarities, wills and trusts have key distinctions that are important to understand before you begin estate...
5 Common Probate Questions
Get Answers From An Experienced Probate Attorney Probate is a complicated process that not many are aware of. In fact, many people who find themselves in the middle of a complex probate case know nothing about it. It can be hard to find information on the subject. With the help of an experienced attorney like Mark Schottler, residents of Cook County and the greater Chicago area can get answers on probate. 1. What Is Probate? Probate is a somewhat lengthy process in which a court decides how...
How Long Does The Probate Process Take?
A common question about probate is “how long does the probate process take?” What most estate planning lawyers will tell you is that there is no simple answer. The process is different for every estate.While every case is different, participants in a probate case should expect the case to last at least a year and possibly longer. Illinois probate law gives creditors of the estate six months to file a claim after the probate estate is open and published notice is given. This allows for...
How To Avoid Probate?
When it comes to preparing for the end of your life, things can get a bit convoluted. There’s a misconception that if you have a will, it must be honored. Unfortunately this isn’t the case. If the will is proven not valid, or the will is contested, your last wishes might be disregarded. As a result, your assets could be subject to probate. If you’re in the process of creating a last will and testament, you might be asking “how can I avoid probate?” Schottler & Associates can help. What Is...
