Estate Planning

RSS Link

While a client who has capacity can clearly file a divorce action, what happens when the client has capacity issues?

This is becoming more common as we see older adults divorcing, especially those in second marriages whose adult children do not get along. A case can be dismissed where the person filing does not have capacity to see.[1] “It is an accepted principle of law that an action cannot be maintained by one who has no capacity to

…
Continue Reading Who Can File and Maintain a Divorce When a Client is Incapacitated?

For many successful professionals, estate planning feels like something you complete once and check off your list. You sign a will, create a trust, and assume everything will pass according to the plan you carefully designed.
But one overlooked detail can quietly undo even the most sophisticated estate plan.
Beneficiary designations.
For high-earning professionals and families in Libertyville and across Lake County, beneficiary forms attached to retirement accounts, life insurance policies, and certain investment accounts often control who receives

…
Continue Reading Beneficiary Designations vs. Your Estate Plan: The Costly Mistake Many High-Earners Make

On July 3, 2025, Congress passed the One Big Beautiful Bill Act (“OBBBA”). This legislation was officially signed into law on July 4, 2025, and makes permanent a number of provisions first introduced in the 2017 Tax Cuts and Jobs Act (TCJA). Below are some of the highlights from the OBBBA as they pertain to estate planning and personal tax strategies.
Gift and Estate Tax Exemption
Under the TCJA, the estate and gift tax exemption amounts were increased, with

…
Continue Reading Tax Changes Under the OBBBA Relevant to Estate Planning

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, by President Trump. OBBBA represents a significant recalibration of the federal tax framework with direct and lasting consequences for estate planning.

At its core, OBBBA extends or makes permanent many of the tax cuts originally enacted under the Tax Cuts and Jobs Act of 2017 (TCJA), but stopping there misses the point. OBBBA not only locks in the TCJA’s framework – it adds additional

…
Continue Reading The Impact of the One Big Beautiful Bill Act on Estate Planning

Valentine’s Day is often celebrated with flowers and fine dining, but the ultimate expression of commitment is ensuring your partner’s future is secure. Whether you are navigating the complexities of a family business, managing significant real estate holdings, or protecting the interests of a blended family, strategic estate planning for couples ensures your legacy remains intact and your wishes are legally enforceable.
At Lexern Law Group, we specialize in helping couples in Illinois and Wisconsin navigate these sensitive

…
Continue Reading Strategic Estate Planning for Couples in 2026

It is February 2026. Tax season is underway, and like most people, you are gathering W-2s, 1099s, and receipts, trying to make sure nothing important is missing before your return is filed.

Every What many people do not realize is that this same stack of tax documents also provides one of the clearest snapshots of their financial life they will see all year. From an estate planning perspective, that snapshot is invaluable.has its own rhythm, milestones and turning points.
Continue Reading More than a Refund: The Strategic Link Between Tax Season and Estate Planning

Integrated estate & business planning is often the missing link for high-achieving individuals who have mastered their craft but haven’t yet bulletproofed their legacy. As a licensed professional or a successful business owner, you dedicate your life to building, protecting, and growing valuable assets—whether that’s a thriving medical practice, a boutique consultancy, or a multi-unit enterprise. You excel at foresight within your field, but have you applied that same rigorous strategy to the interconnected futures of your personal wealth

…
Continue Reading Why Integrated Estate & Business Planning Works

Estate planning for high-earning professionals may seem straight forward as you enter higher tax brackets, but the reality is there may be more protections that need to be in place. High-earning professionals often assume they’re “too young,” “too busy,” or “well covered” when it comes to estate planning. In reality, higher income brings higher complexity — and more risk if planning is delayed.
If you’re a physician, dentist, attorney, business owner, executive, or licensed professional earning a substantial income,

…
Continue Reading Estate Planning for High-Earning Professionals

If you’re a Russian-speaking entrepreneur building your business in the U.S., you already know you’re balancing more than most—new laws, new systems, new risks. Estate planning isn’t just paperwork; it’s protection for everything you’ve worked so hard to create.
Если вы русскоязычный предприниматель в США, вы уже знаете, что вам приходится разбираться в новых законах, правилах и рисках. Планирование наследства — это не просто документы, а защита вашего бизнеса, семьи и будущего.

Why Estate Planning Matters for Russian-Speaking Entrepreneurs

…
Continue Reading Estate Planning for Russian-Speaking Entrepreneurs in the U.S.

Choosing between an LLC and an S-Corporation isn’t just a tax decision — it’s a family protection decision. The business structure you choose affects liability, control, taxes, succession planning, and even whether your business ends up tangled in probate.
If you’re a local small or mid-size business owner, understanding these differences can help you safeguard what you’ve built and protect the people you love.

LLC vs. S-Corp: Quick Comparison Chart

Feature
LLC
S-Corporation

Liability Protection
Strong limited liability for

…
Continue Reading LLC vs. S-Corp for Small Business Owners: Which Protects Your Family Better?

This year has been a busy one for me, and I’m not alone. Every elder law and special needs attorney I know is busy. The demand for our services is always increasing, the supply of our time ever scarce. Admittedly, being too busy is a good problem to have – but a problem nonetheless. A Packed Agenda is a Wellness Problem When your calendar looks like the master caution panel on
Apollo 13, it’s stressful. It takes time away

…
Continue Reading Saying No to New Clients: How Elder Law Attorneys Manage Their Workloads

A Guide from HQ Law

When a loved one passes away, families often face not only emotional hardship but also financial uncertainty. One of the most common questions we hear at HQ Law is:
“How do I know whether my loved one had a life insurance policy?”
In many cases, life insurance policies go unclaimed simply because survivors don’t know they exist. And even when a policy is located, beneficiaries may face a denied or delayed claim.

This guide…
Continue Reading How to Find a Lost Life Insurance Policy — And What to Do If Your Claim Is Denied 

If you’re a business owner in Illinois preparing for a sale, here’s a question most people don’t think to ask:
“Is my estate plan ready for this transaction?”
And the honest answer is usually: not yet.
Selling a company — especially a family-owned business — isn’t just a financial transaction. It’s a major estate planning event. If your estate plan isn’t aligned with the sale, you could unintentionally create tax problems, delay closing, or leave your family stuck in

…
Continue Reading What Business Owners in Illinois Must Fix in Their Estate Plan Before They Sell

Estate planning for dentists doesn’t need to be complicated. What happens to your dental practice—and your wealth—when you decide to sell or retire?

For Illinois dentists, selling a dental practice isn’t just a business decision—it’s a key moment in your estate and tax planning. The sale can impact your retirement, your family’s future, and even your liability exposure long after you hang up your white coat. Whether you’re selling to an associate, merging with a larger group, or transitioning

…
Continue Reading Estate Planning for Dentists Selling Their Practice in Illinois

It’s Halloween—a season of ghosts, goblins, and spooky surprises. But one of the scariest things you can leave behind for your family isn’t a haunted house. It’s your digital ghosts—unprotected online accounts, lost passwords, and forgotten assets that come back to haunt your loved ones.

What Are Digital Ghosts?

  • A Facebook account that can’t be closed or memorialized.
  • A crypto wallet that disappears without the key.
  • Online bills or subscriptions no one knows about.
  • Photos, music, or videos locked

…
Continue Reading The Digital Ghosts You Leave Behind

Imagine this: your family tries to log into your email or PayPal account after you pass away, but they’re blocked. Without proper planning, your digital assets could be locked forever, no matter how valuable they are.
That’s why legal tools matter.

The Problem with “Just Sharing Passwords”
Handing over a password list may sound easy, but it’s not legally recognized. In fact, it could violate privacy laws or user agreements. To ensure your digital assets are handled properly, you

…
Continue Reading Avoiding Digital Nightmares: Legal Tools for Digital Estate Planning