If you’re a busy professional, business owner, or high-net-worth individual in Libertyville, Illinois, protecting your hard-earned assets is crucial. Setting up a revocable living trust in Libertyville IL is one of the smartest ways to safeguard your estate while keeping control over your future.
Whether you’re in Lake Forest, Vernon Hills, or right here in Libertyville, a living trust can help you avoid probate, protect your privacy, and make life easier for your family.
What Is a Revocable Living
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Lexern Law Group, Ltd. Blogs
Latest from Lexern Law Group, Ltd.
I Found Cash In My Dad’s Closet- Here’s What You Should Know
When my father passed away a few years ago, my family and I gathered at his home to start the difficult process of sorting through his belongings. Between the photo albums, old love letters to my mom, and vintage Cubs memorabilia, we found something no one expected — a shoebox filled with cash.
At first, we laughed. Then we looked at each other and asked, Wait… what do we do with this?
If you’ve ever been in this situation
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Why Estate Planning Isn’t Just for Retirement – It’s for Right Now
Too many high-earning professionals and business owners think of estate planning as something to do “someday”—after retirement, after the kids are grown, after things slow down. But life doesn’t always wait for the perfect moment. Whether you’re running a practice, growing a business, or building generational wealth, the decisions you make today will shape what happens if life takes an unexpected turn. Estate planning isn’t about preparing for the end—it’s about protecting what you’ve built while you’re still here
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How to Build Generational Wealth (Without Winning the Lottery)
When I was a kid, my grandparents had a phrase they loved to throw around: “Shirtsleeves to shirtsleeves in three generations.” At the time, I figured it was just one of those old-timey sayings like “Don’t count your chickens before they hatch” or “Don’t touch the thermostat.” But as an estate planning attorney in Lake County, Illinois, I see the truth of it every day. Wealth is hard to build—and even harder to keep.
So, how do you make
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What Happens Without an Estate Plan?
You’ve worked hard to build a life of success and security for your family. But without an estate plan, everything you’ve built could be left vulnerable—leading to stress, legal battles, and uncertainty for the people you love most.
What Happens Without an Estate Plan?
Imagine this: A successful business owner suddenly passes away, leaving behind a thriving company and substantial assets—but no estate plan. His grieving family is left scrambling. Legal fees pile up, probate drags on for months
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When Should You Get a Will?
A will is one of the most important legal documents you can have, yet many people delay creating one. If you have significant assets, a blended family, or a professional license, having a comprehensive estate plan is essential to protect your legacy and your loved ones. Here’s when you should consider getting a will.
When Should You Get a Will?
1. You’ve Accumulated Significant Wealth
If you have a high net worth, your estate may be subject to federal
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Estate Planning Mistakes That Cost High Earners Millions – And How to Avoid Them
For high-net-worth individuals, estate planning is more than just drafting a will—it’s a strategic process that ensures your wealth is preserved, protected, and passed on according to your wishes. Unfortunately, even the wealthiest individuals make costly estate planning mistakes that can lead to unnecessary taxes, legal disputes, and financial losses for their heirs. Here are some of the most common estate planning mistakes high earners make and how to avoid them.
1. Failing to Update Your Estate Plan
Estate
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Spring Cleaning Your Estate Plan
As the flowers bloom and the days grow longer, many of us take this time to refresh our homes, clear out clutter, and start anew. But spring cleaning shouldn’t just apply to your home—it’s also the perfect opportunity to review and update your estate plan. Just like maintaining your property, ensuring that your estate plan is up to date can provide peace of mind and protect your loved ones.
Why Spring is the Perfect Time to Review Your Estate
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Things Your Kids Don’t Want to Inherit
As a high-net-worth individual, you’ve worked hard to build wealth and acquire valuable assets. But have you ever stopped to consider whether your children actually want to inherit everything you plan to leave behind? While sentimental items and financial security are often appreciated, many heirs find themselves overwhelmed by burdensome assets, outdated possessions, and complicated estate matters.
Here’s a modern approach to estate planning that ensures your wealth is passed down in a way that benefits—not burdens—your loved ones.
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Show Your Love This Valentine’s Day with Estate Planning
Valentine’s Day is all about showing love to those who matter most to you. While flowers and chocolates are classic tokens of affection, consider going the extra mile this year by planning for your loved ones’ future through comprehensive estate planning.
As a trusted estate planning attorney serving Libertyville, IL, and the greater Lake County area, our firm has seen how a well-crafted estate plan can provide peace of mind and long-lasting security for families. This Valentine’s Day, let’s
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Essential Estate Planning Documents for Illinois Residents
Estate planning is vital for everyone, regardless of age or financial status. Illinois law clearly outlines key documents that residents should have in place to protect their assets and ensure their wishes are honored. Proactively creating these documents can save your loved ones significant stress and confusion in the future.
Essential Estate Planning Documents for Illinois Residents
1. Last Will and Testament
A Last Will and Testament allows you to outline how your assets will be distributed after your
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Stay Up to Date on New Laws in Illinois for 2025
As of January 1, 2025, more than 300 new laws have taken effect in Illinois, impacting various aspects of daily life, business regulations, and consumer protections. From digital driver’s licenses to salary transparency, these changes may affect individuals, businesses, and professionals across the state. Below is a summary of some of the most notable new laws and their implications.
New Laws in Illinois for 2025
Digital Driver’s Licenses
Illinois residents may soon have the option to carry a digital
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A Guide to Storing Your Estate Planning Documents
Creating a comprehensive estate plan is a vital step toward ensuring your wishes are carried out and your loved ones are taken care of after you’re gone. However, equally important is knowing how and where to store these critical documents. Proper storage and accessibility are key to effective estate planning. Here are three steps to ensure your estate planning documents are secure and available when needed.
Step 1: Organize Your Estate Planning Documents
The first step is to gather
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2025 Estate Planning: Post Election Changes
Learn what you need to know about 2025 estate planning and how to position your legacy for the future. The 2024 election has ushered in a pivotal moment for estate planning, especially for high-net-worth individuals. With significant tax changes on the horizon, now is the time to revisit and refine your estate plan to ensure it aligns with the evolving financial landscape. The anticipated continuation of favorable tax policies presents an opportunity to preserve and transfer wealth efficiently, but
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Illinois Employment Law Changes for 2025
Navigating the ever-changing landscape of employment and business law is a constant challenge for business owners. Staying compliant isn’t just about avoiding legal pitfalls; it’s about fostering a fair and productive work environment that attracts and retains top talent. Illinois has seen significant legislative activity in this area, with several new laws taking effect or on the horizon. This post will provide a concise overview of these changes, equipping you with the knowledge you need to protect your business.
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Legacy Estate Planning: Lighting the Way for the Future
As the holiday season brings family and loved ones together, it also offers an opportunity to reflect on the values, memories, and traditions that define your legacy. While holiday lights brighten our homes and hearts, estate planning can illuminate the path to securing your family’s future and ensuring your wishes are carried out.
Here are a few steps to consider as you plan your legacy during this season of giving:
1. Gather Together: Open the Conversation
Just as families
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