Big “Life Changes” Often Mean Big “Estate Plan Changes”

Cari Rincker Estate Planning Leave a Comment

Many people who put together an estate plan do so when they start a family – assuming they put an estate plan together at all during their lifetime. While putting an estate plan together is a good thing to do, many people make few updates once the plan has been created, despite other key life events happening over the years. …

Share this Article

Don’t Rest Easy: Reopening a Closed Estate in Illinois

Cari Rincker Estate Planning, probate Leave a Comment

When a loved one passes away, navigating the probate process can be daunting and exhausting.  Once the estate has been distributed and probate is closed, it would be nice to rest easy knowing that “what’s done is done;” however, it is important to understand that there are a few circumstances where a closed estate can be reopened again in Illinois. …

Share this Article

Escape From a Bad Trust: 5 Strong Reasons to Decant Your Trust

Cari Rincker Estate Planning Leave a Comment

When a bottle of wine is decanted, it’s poured from one container into another. When a trust is decanted, trust assets are poured from an old trust into a new trust with more favorable terms. Why Should a Trust Be Decanted? Trusts are decanted to escape from a bad trust and provide beneficiaries with more favorable trust provisions and benefits. …

Share this Article

What Is the Difference between a Trust and an LLC?

Cari Rincker Business Law, Estate Planning Leave a Comment

Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to choose between the two. In fact, an LLC can be placed in …

Share this Article

Do It Now: Name a Guardian for Your Minor Child(ren)

Cari Rincker Estate Planning Leave a Comment

We know it’s hard. Thinking about someone else raising your children can stop you in your tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you – your children’s guardian could be a relative you despise or even a stranger you’ve never …

Share this Article

Not Just Death and Taxes: 5 Essential Legal Documents You Need for Incapacity Planning

Cari Rincker Estate Planning Leave a Comment

Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself. What happens without an incapacity plan? Without a comprehensive incapacity plan in place, your family will have …

Share this Article

Important Questions to Ask When Investing in a Vacation Property

Cari Rincker Estate Planning Leave a Comment

According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These homes are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and your loved ones. Following are some important …

Share this Article

How to Choose a Trustee

Rincker Law Estate Planning Leave a Comment

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs—collect income, pay bills and taxes, save and invest for the future, buy and sell property, provide for your loved ones, keep accurate records, and generally keep things organized and in good order. Key Takeaways  You can …

Share this Article

Integrating Community Property Trust Into Your Estate Planning

Cari Rincker Estate Planning Leave a Comment

A well-crafted estate plan is comprised of many individual parts, and careful, trust-based estate planning is the best way to ensure the highest possible quality of life for you and your loved ones. One way couples can make get the most mileage out of their estate plans is through community property trusts. This is a special type of trust that …

Share this Article

How Trusts Have Helped Athletes

Rincker Law Estate Planning Leave a Comment

Estate planning is not just about what happens when you die. Proper estate planning takes into consideration all aspects of your life and how to protect your accounts and property so that you can receive the maximum use and enjoyment during your life as well as protect whatever you choose to leave to your loved ones upon your death. A …

Share this Article

3 Reasons You Want to Avoid Probate

Cari Rincker Estate Planning Leave a Comment

When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does not avoid probate. Instead, a …

Share this Article

Who Should I Choose to Be Successor Trustee

Rincker Law Estate Planning Leave a Comment

When you create a living trust, you must name a successor trustee to take over for you if you are unable to act due to incapacity or death. It is crucial that this decision be given careful consideration and that the right person be selected for the job. Role of Successor Trustee If you become unable to manage your financial …

Share this Article