Probate & Estate Planning

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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 

Divorce marks the closing of one chapter, and the beginning of another. Amid the legal paperwork, emotional transitions, and shifting routines, updating your estate plan may not be on your priority list. But that’s exactly why it deserves your attention now, because it’s a chance to take control and build clarity into your new life.

In Wisconsin, the law provides some built-in protections. Once a divorce (or annulment) becomes final, many references to an ex-spouse in wills, trusts, or…
Continue Reading Starting Fresh: Turning Post-Divorce Estate Planning into Peace of Mind

When a loved one passes away in Illinois, their estate often needs to go through a legal process called probate. Probate ensures that debts are paid, taxes are filed, and assets are distributed according to the person’s will or, if there is no will, under Illinois intestacy laws. At the center of this process is the executor—sometimes called a “personal representative.”
But what exactly does an executor do? Let’s break down their responsibilities.

Who Can Be an Executor in

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Continue Reading What Is the Role of an Executor in Illinois Probate?

Probate is the court-supervised process of settling a person’s estate after they pass away. While probate helps ensure assets are distributed properly, it doesn’t always move quickly. Families are often surprised by how long the process can take — and how many bumps can appear along the way.
If you’re preparing to handle an estate in Illinois, here are some of the most common delays in probate and tips to minimize them.

Common Delays in Probate
1. Missing or

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Continue Reading Common Delays in Probate & How to Avoid Them

When it comes to estate planning, many people believe that if they don’t write a will, everything will “just work out.” Unfortunately, that’s not how it works in Illinois—or anywhere else. Dying without a will (also called dying intestate) can leave your loved ones with legal headaches, financial burdens, and even family conflict.

To help clear things up, let’s bust three common myths about what happens if you pass away without a will.
Myth #1: “My spouse will

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Continue Reading 3 Myths About Dying Without a Will

When it comes to estate planning, many people think a will is all they need. But if you want to truly protect your assets, avoid probate, and make things easier for your loved ones, a revocable living trust might be the better option. In this post, we’ll walk through what a revocable living trust is, how it works, and why it’s such a valuable tool for protecting your legacy.

What Is a Revocable Living Trust?
A revocable living trust

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Continue Reading How to Protect Your Assets with a Revocable Living Trust

Losing a loved one is hard enough—facing a probate mess afterward can make it even harder.
That’s exactly what happened to the Meyers family right here in Libertyville, Illinois. After their father passed away, the family believed he had a will—but no one could find it. What followed was months of confusion, stress, and court filings, all while trying to grieve. As a probate attorney in Libertyville, Illinois, our firm helps families through the probate process so you can

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Continue Reading Real Stories from a Probate Attorney in Libertyville, Illinois

It is a common misconception believed by many that having a will avoids probate. Not only is it false, it really could not be further from the truth. Rather, a will is a tool that is often used during the probate process and has no power outside of it. For those who seek to avoid probate, it is important to understand these two related concepts—and the planning tools that exist to distribute your assets as you see most fitting.

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Continue Reading Common Misconceptions in Estate Planning: Wills Avoid Probate

If your estate is less than $13.99 million dollars in assets, and you pass away, then under the current federal tax laws, the beneficiaries owe no federal estate tax. This limit of $13.99 million is called the “federal estate tax exemption.” The federal estate tax exemption is often called an “exemption,” but it is more accurately identified as the unified credit, which is a tax credit rather than an exemption. When you make gifts, the law calculates a hypothetical…
Continue Reading Rising Above the Sunset: The Big Beautiful Bill’s Proposed Changes to Federal Estate Tax

If you’ve lost a loved one or are planning for the future, understanding the probate process in Illinois is essential. Whether you live in Lake County or anywhere in the state, probate can be a complicated legal process that adds stress during an already difficult time. In this post, we’ll walk through the basics of probate in Illinois, what it involves, and how proper estate planning can help you minimize—or even avoid—it.

What Is the Probate Process in Illinois?

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Continue Reading What You Need to Know About the Probate Process in Illinois

Probate is the legal process through which a deceased person’s assets that are not otherwise distributed by operation of law are distributed and their debts are settled. In Wisconsin, like in other states, the probate process ensures that the wishes of the deceased are respected, while also providing a legal mechanism for creditors to claim what they are owed. It involves a Court-supervised procedure that can vary in complexity based on the size and nature of the deceased person’s…
Continue Reading Wisconsin Probate Basics

When a loved one passes away, settling their estate is often a necessary yet overwhelming task. While it’s natural to want a quick resolution during such an emotional time, the process of settling an estate can take longer than expected. Here, we’ll walk through the factors that affect how long it may take to settle an estate and provide insights on what you can expect along the way.
Factors That Affect The Timeframe to Settle an Estate
Every estate

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Continue Reading How Long Does It Take to Settle an Estate?

Digital Estate Planning: Protect Your Loved Ones
In today’s digital age, our online lives have become an integral part of our personal and financial well-being. Unfortunately, many people overlook the importance of planning for their digital assets in their estate plans. This oversight can lead to significant challenges for executors and heirs, including increased costs and delays in estate administration.
Understanding Your Digital Footprint
Your digital footprint encompasses a wide range of online accounts and services, from email and

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Continue Reading Digital Estate Planning: Protect Your Loved Ones

Global communication network concept. Worldwide business.

In an increasingly digital age, our lives are intricately woven into the fabric of the online world. From financial accounts to cherished memories captured on social media, our digital footprint holds a significant part of our legacy. Yet, many individuals overlook the importance of including digital assets in their estate planning. Let’s explore why safeguarding your digital assets is crucial and how to ensure they are part of your comprehensive estate plan.

1. Understanding Digital Assets:

Digital assets encompass

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Continue Reading Preserving Your Digital Assets

On November 1, 2023, the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits.  Almost all of the limits shown below have increased from last year.

 

Qualified Plan Limit
Cost-of-Living Adjustments

401(k) and 403(b) elective deferral limit

2023 – $22,500

2024 – $23,000

$200,000 compensation limit

2023 – $330,000

2024 – $345,000

$160,000 defined benefit limit

2023 – $265,000

2024 – $275,000

$40,000 defined contribution limit

2023 – $66,000

2024 – $69,000

$80,000 definition…
Continue Reading 2024 Qualified Plan Cost of Living Increases, 2024 Social Security Taxable Wage Base

The United States Attorney’s Office from the Southern District of Ohio recently issued a press release that highlights how elderly individuals suffering from dementia may be vulnerable to financial abuse. The press release can be found here.

As the release explains, the attorney defrauded his client—an elderly woman in her 80s—over the course of seven years, between 2012 and 2019. The attorney’s law license was revoked in 2015. The attorney stole the funds using a myriad of methods,

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Continue Reading Ex-Attorney Convicted of Stealing More Than $800,000 from Elderly Victim with Dementia