Benefits of a Revocable Trust

The Benefits of a Revocable Trust are numerous.  Also known as a “Living Trust,” a Revocable Trust is formed by a grantor during his lifetime, and becomes irrevocable upon the death of the grantor.  The typical revocable trust consists of all or more of the grantor’s property, whth the trustee keeping the property and assets invested, and . . . → Read More: Benefits of a Revocable Trust

Fiduciary Relationship – Significance

While a fiduciary relationship is created under a Power of Attorney, or between a trustee and a beneficiary, certain circumstances may exist between an individual and another which will result in a finding of the existence of a fiduciary relationship without a formal agency.

Relevant factors to consider in determining whether a fiduciary relationship exists are:

The degree . . . → Read More: Fiduciary Relationship – Significance

Undue Influence – Will Contest

Undue Influence:  The use of undue influence on a testator is a major cause of a subsequent will contest.   Elderly individuals, who live alone and lack caring friends and family nearby, are particulary susceptible to undue influence by someone who is less than ethical and motivated by money and greed.

If there is a fiduciary relationship between . . . → Read More: Undue Influence – Will Contest

Lack of Testamentary Capacity – Illinois Will Contest

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A finding of a Lack of Testamentary Capacity at the time of the execution of a will can be the basis for a successful will contest.  In Illinois, there is a presumption that the testator possessed testamentary capacity at the time the will was executed, if the will is properly executed (signed) in . . . → Read More: Lack of Testamentary Capacity – Illinois Will Contest

Contesting a Will

A will contest is an action to set aside a will that has been admitted to probate.  This action, which may be filed by any interested party, allows for an opportunity to investigate the circumstances related to:

Execution of the will (properly witnessed, with testator of sound mind and acknowledging the signing);
The capacity of the testator
Other factors . . . → Read More: Contesting a Will

Contested Decedent’s Estate Issues

In the State of Illinois, a probate estate is required if the decedent died leaving assets in excess of $100,000, or owned real estate.  A decedent who dies without having a will, leaves an intestate estate.  A decedent who dies with a Will, leaves a testate estate.  Each type of estate poses different challenges for the . . . → Read More: Contested Decedent’s Estate Issues