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Inherited IRAs Are Not Protected Unless…….
May 11

Inherited IRAs Are Not Protected Unless…….

In the past, creditor protection was afforded to your IRA and to the beneficiaries that would inherit your IRA, such as your children.  However, in June…

First Party and Third Party- The  2 Types of Special Needs Trusts
May 07

First Party and Third Party- The 2 Types of Special Needs Trusts

A Special Needs Trust (“SNT”) or Supplemental Needs Trust is a certain type of trust which can be used for goods and services that governmental programs will…

Asset Protection is Less Complicated Than You Think
Apr 17

Asset Protection is Less Complicated Than You Think

When clients think about Asset Protection Off-shore trusts or some elaborate scheme of trusts and other entities usually come to mind.  However, there are several vehicles that…

IRAs and Creditors
Oct 22

IRAs and Creditors

In general, IRAs, 401(k)s and pensions are exempt from the account owner’s creditors under Illinois law. They cannot be seized or garnished by creditors. In an…

What Happens if I Die without a Will or a Trust?
Jan 29

What Happens if I Die without a Will or a Trust?

If you die without a Will or Trust, your assets will be divided up based on the intestacy laws of the state where you live at…

Asset Protection for Illinois Homes and Life Insurance
Jun 27

Asset Protection for Illinois Homes and Life Insurance

Illinois laws provide asset protection for homes and life insurance policies. The protection provided to a home, whether it is a house, a condominium or other…

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