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Estate Planning – Aurora IL – Batavia Il – Kane County
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    • Drendel & Jansons Law Group
    • Attorneys
  • Estate Planning
    • Estate Tax Planning
    • Health Care Directives
    • Miscellaneous Estate Planning Tools
    • Powers of Attorney
    • Succession Planning
    • Trusts
    • Wills
  • Estate Administration
    • Guardianship Estate Administration
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    • Small Estate Administration
    • Trust Estate Administration
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Category Archives: Estate Planning

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What is the Difference Between a Trust and a Will?

Estate Planning, Trust, WillBy Drendel & JansonsJanuary 29, 2021Leave a comment

One of the most common questions, and an area of much misunderstanding, involves the difference between a Trust and a Will. I have not addressed the subject in some time, so doing so again seems appropriate. I will begin with an explanation of Wills since people seem to have a better idea of the concept…

How Well Can You Answer Some Common Estate Planning Questions?

Estate PlanningBy Drendel & JansonsNovember 23, 20202 Comments

The Internet has opened up the world for do-it-yourselfers, including the option do your own estate planning.  People have saved a tremendous amount of money by “Googling it” and finding how-to videos and instructions on all kinds of things. From alternatives to medicine that promise relief from ailment and good health to do-it-yourself Will kits,…

Probate by the Numbers

Estate Planning, ProbateBy Drendel & JansonsOctober 12, 2020Leave a comment

Anyone who is thinking about estate planning thinks (or should be thinking) about probate. Probate is the term that generally describes the administration of an estate of a deceased person. Probate is also the process for administrating the estate of a deceased person that is established in the State Probate Act.  That process is handled…

How to Handle Gifts or Loans to Children in a Will or Trust

Estate Planning, Last Will & Testament, TrustsBy Drendel & JansonsJune 10, 2020Leave a comment

Most people help their children when their children need help, even when they are adults. Sometimes that means making “loans” to them. You should think about how to handle gifts or loans to children in a Will or Trust. Your family will thank you for it! Imagine that your son’s car breaks down, and he…

The Difference Between Irrevocable Trusts and Revocable Trusts

Estate Planning, Living TrustBy Drendel & JansonsMay 26, 2020Leave a comment

Trusts are very robust and handy estate planning tools. If you are not familiar with trusts, perhaps you should read some articles that explain what trusts are (See Trusts Compared to Corporations; The Benefits of Living Trusts; and Avoiding Probate is a Matter of Trust) Even if you are familiar with trusts, the difference between…

The New Illinois Trust Code – Accounting

Estate Planning, Living Trust, UncategorizedBy Drendel & JansonsFebruary 6, 2020Leave a comment

Some significant changes affecting trusts have come to Illinois with the New Year. Effective January 1, 2020, the Illinois Trust Code replaced the Illinois Trusts and Trustees Act. One of the biggest areas of change involves the duty of a trustee to provide an accounting. One of the hallmarks of the fiduciary duty that applies…

The Dangerous Rocks under the Waters of Joint Bank Accounts

Estate PlanningBy Drendel & JansonsJune 19, 2019Leave a comment

I’ve seen it time and time again. A client comes in who has added a son, or a daughter, or a grandchild, or a niece or nephew, or someone else to the client’s bank account… or that is the client’s plan. It seems like a good idea. It gives another person access to the bank…

Getting the Pieces of Your Estate Planning in Place

Estate PlanningBy Drendel & JansonsApril 17, 2019Leave a comment

Fear of Estate Planning, as in doing a Will or Trust (or both) is a common malady. Everyone knows they should do something, but few people know exactly what that something is they should be doing. Fear of the unknown often keeps people from doing what they know they should do. That “something” we should…

Holiday Humbug? Bah…Death is an Old, Old Story

Estate Planning, Trust, WillBy Drendel & JansonsDecember 20, 2018Leave a comment

If you are getting together with your family members this holiday season it may not seem like a great time to talk about dying, but actually it is! Hollywood has combined death and holidays for years. Well, truth be told, Dickens started it. A Christmas Carol is a look at the world without Scrooge, and…

Think About Long-Term Care Insurance

Elder Care, Estate PlanningBy Drendel & JansonsOctober 8, 20181 Comment

In 2003, experts estimate that an estimated 37 million individuals will need some form of long-term care by 2050.[1] According to the AARP, approximately 65% of seniors will need some form of long-term care during their lives;[2] of those, 35% will enter a nursing home at some point.[3] Whether it is home health agencies, nursing…

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