Blogs From the Plan Forward Legal Team
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What Happens To Your Student Loans If You Die?
Student loans and death. Words that don’t often go together, yet families are often left dealing with them. If you’re here because you’ve recently lost a loved one and are wondering what happens to their remaining student loans, let us offer our condolences. You may be here because you have student loans and you want…
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Transfer of Property Without a Will After Death
After a loss, having to sort out a loved one’s home, bank accounts, and personal belongings while also grieving can feel overwhelming. One of the most common questions families ask is simple and urgent: What happens to property if there is no will? This guide walks through what “transfer of property without a will” means…
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Pros and Cons of a Beneficiary Trust
There are many different kinds of trusts, the separate legal entities set up to hold assets. A specific kind, a beneficiary trust, is explicitly established to hold and manage assets for the direct financial benefit of one or more named heirs. Trusts are essential estate planning tools used to protect wealth, preserve privacy, and minimize…
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3 Big Estate Planning Challenges for the LGBTQ+ Community
Estate planning is often framed as paperwork about money. In reality, it is about something much more personal. It is about who gets to speak for you, who is protected, and whether the people you love are recognized when it matters most. For many LGBTQ+ individuals and families, the legal system does not automatically reflect…
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Can You Keep A Parent’s Low Interest Mortgage After They Die?
For many families, the biggest fear after inheriting a home is not what happens to the mortgage. It is the interest rate. Parents who refinanced or purchased before the COVID-era rate increases often have mortgage rates that are dramatically lower than what is available today. When heirs hear the word refinance, they immediately worry that…
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Death and Mortgages: What Happens To A Mortgage When You Die?
The mortgage does not go away when someone dies. Even though ownership of the home can transfer to a surviving spouse, heir, or trust beneficiary, the mortgage lien stays attached to the property. In most cases, families end up choosing one of three outcomes: they keep paying and keep the home, they assume or refinance…
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What is a Property Memorandum and Do You Need One?
Like many people, your focus on the legacy you leave behind after death may fall on larger assets, like property and financial accounts. Wills and trusts are exceptional legal documents for expressing your wishes regarding asset distribution. However, disregarding the distribution of your personal effects may leave family members with the emotional challenge of deciding…
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How Long After Death Do You Have to Transfer Property?
Making timely, complex legal decisions when you lose a loved one can be overwhelming. Still, state law requires you to swiftly act to initiate probate and address the estate. Let Plan Forward Legal assist you through the property transfer process with efficiency and care after losing someone you care for. A Chicago estate planning attorney…
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How Much Does An Estate Planning Lawyer Cost In Illinois?
Many of us have an aversion to doing things we know we should, but that we anticipate will cause us financial discomfort. Estate planning is one of those should-do tasks that is easy to put off because we tell ourselves (among other excuses) it’s going to be expensive. Preparing an estate plan tailored to your…