What Is a ‘Residuary’ Estate?

What Is a ‘Residuary’ Estate

In simple terms, a residuary estate is any part of your estate that hasn’t been distributed to your heirs through a last will and testament.

Is an Estate Plan Battle Looming?

Is an Estate Plan Battle Looming

If you own any property at all, you probably know about estate planning. You can decide what happens to your assets after you die, of course.

Why Is It Important to have an Estate Plan?

Why Is It Important to have an Estate Plan

The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.

Can Unequal Inheritances Be Fair?

Can Unequal Inheritances Be Fair

The vital thing to acknowledge is that the emotions behind the reasons are not trivial but are essential and should not be dismissed or minimized.

Do You Want to Be an Executor?

Do You Want to Be an Executor

Only you know your capacity and willingness to serve, or the degree of need expressed by the person asking you. However, it should help to know first that if you do decide to accept, there can be help out there and second there are standard procedures and practices you can follow.