Blogs From the Plan Forward Legal Team
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The CLARITY Act: What It Is and Why It Matters for Your Estate Plan
The CLARITY Act is one of the most significant cryptocurrency bills Congress has considered in years. Its purpose is straightforward: create clearer rules for digital assets by defining how cryptocurrencies and other blockchain-based assets should be regulated in the United States. For years, investors, businesses, and even federal agencies have debated which digital assets should…
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What’s the Difference Between an Estate Plan and a Will
So you’ve heard you should have an estate plan. Isn’t that basically the same thing as having a will? No, it isn’t. A will can be a really good start, but an estate plan is concerned with more than just what happens when you die. Estate planning is about making important legal decisions that will…
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Common Estate Planning Documents To Know
Estate planning is about more than just what happens to your property when you die. Common estate planning documents let you appoint people to handle your affairs if you become disabled, communicate your wishes regarding medical treatment, and nominate guardians for minor children. A comprehensive estate plan protects your family now and into the future.…
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From Tenants in Common to Joint Survivorship: How One Couple’s Deed Tells the Story of Marriage Equality
Sometimes, history shows up in unexpected places. Not in a museum. Not in a textbook. Sometimes, it appears in a handwritten note on a property deed. Recently, we met with a couple who had purchased their home together in Illinois in 2000. As we reviewed their documents, one detail immediately stood out. Written by hand…
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Why Same Sex Couples Need An Estate Plan
Why Same Sex Couples Need An Estate Plan Same sex couples need estate plans just like opposite sex couples need estate plans. Proper planning ensures that the appropriate legal documents are in place to guarantee a person’s wishes will be carried out in the event of incapacitation or death. Although same-sex couples in all 50…
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How Does Survivorship Insurance Affect Estate Planning?
When you’ve worked hard and accumulated wealth, you want as much as possible to go to the people and places that are important to you. Survivorship, or second-to-die, insurance is a tool families can use as part of their estate plan to ensure cash is available to cover expenses or provide for beneficiaries. For married…
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How To Handle Power Of Attorney Abuse
Powers of attorney (POA) are created so that a trusted individual is available to make legal decisions for a person who is no longer able to act for themselves. The agent appointed under a power of attorney is legally required to carry out their responsibilities with the utmost good faith. However, not all agents abide…
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Limited Power Of Attorney Meaning
A power of attorney (POA) is a legal document that allows an individual to appoint another person to act on their behalf if they are unable or unwilling to act for themselves. Having a valid power of attorney means authorized actions may be taken on your behalf without the need for court intervention. Powers of…
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What Is A Living Will?
A living will in Illinois is a type of advance directive. It allows you to advise an attending health care provider of your wishes about receiving life-sustaining treatment if you have a terminal medical condition and you lack the capacity to decide. If you execute a valid living will, your health care provider must abide…