I have three beloved border collies (ages two to five) and I’ve been recently diagnosed with 3rd-stage lung cancer. Should I include care for my dogs in my trust just in case I pass before they do? I ask because my sister in Scottsdale told me that if I did nothing, the dogs would be euthanized a few weeks after my death.
That is a lovely consideration for your furry family members. Illinois does allow a trust for domestic or pet animals. It’s covered under the Pet Trust Act (760 ILCS 5/15.2). (more…)
Initially, the nominated agent for your Power of Attorney for Healthcare, Power of Attorney for Property and the Executor of your Estate do not have to be the same person. You may choose to identify the same person if in fact you rely on one person to make all of these decisions. It is not uncommon for a trusted person to serve in all three capacities. Common examples include: spouse; partner; child or parent to be named in all three capacities. (more…)
Ron Webb is presenting to the Illinois Federation of Teachers on March 3, 2016 on Estate Planning. He will discuss wills, powers of attorney probate, how to avoid probate, joint tenancy, trusts, Illinois estate tax, and the IRA Inheritance Protection Trust.