Blog Medium Without Sidebar

On behalf of Jill Metz Most people are at least generally aware of the importance of estate planning. Typically, when one thinks about estate planning, it brings to mind someone executing a last will and testament so their worldly possessions can pass as they desire to their intended beneficiaries. Somewhat more rarely does estate planning bring to mind a reverse mortgage. However, there is a type of reverse mortgage-known as the private reverse mortgage-that definitely falls into the category of estate planning. The traditional reverse mortgage, famously hawked on television by Fred Thompson and Henry “The Fonz” Winkler, was designed... Read More

Illinois’ new law allowing same-sex marriage has brought equality — and unique family law issues — to the state. The Illinois Freedom of Religion and Marriage Fairness Act went into effect in the beginning of June. According to Equality Illinois, over 5,000 same-sex couples have since tied the knot and become entitled to the same rights and obligations as married heterosexual couples in the state. Among other provisions, the new law allows civil unions to be converted to marriages and provides that all laws in the state that refer to marriage or related terms now apply to same-sex couples who... Read More

Publicity surrounding actor Philip Seymour Hoffman’s death has sparked awareness about the importance of creating an estate plan. The death of Oscar-winning actor Philip Seymour Hoffman has brought widespread media attention since his passing this past February. News outlets everywhere profiled the details surrounding his death and now many are talking about his estate plan. Recent revelations about his wishes bring to light two very important reasons why everyone should create an estate plan or will. The possibility of a sudden passing Life is one big chance. And unless an individual suffers from a terminal illness, most people simply do not know... Read More

Same-sex couples can now take advantage of state and federal tax benefits. The Pew Research Center reports that over 70,000 same-sex couples have legally married following the repeal of key provisions of the federal Defense of Marriage Act (DOMA) in 2013. Since that time, several states – Illinois among them – have legalized the marriage of gay and lesbian couples. With the overturn of Section Three of DOMA, same-sex couples across the country can take advantage of a slew of new federal rights and privileges. Of these, some of the most economically valuable deal with federal estate and gift taxes.... Read More

Before you leave for a vacation, take the time to review and update your estate plan’s beneficiary designations, incapacity documents and insurance coverage. Now that the weather has turned warm, many are eagerly planning their summer vacations. Few people include “review estate plans” on their “to do” list prior to departing, but it should be an important part of each person’s pre-travel routine because of the possibility of death, illness or accident while traveling. You should focus on a few key areas of your estate plan when reviewing it before travel. Beneficiary designations One of the most important things to... Read More