The Palley Law Office Post
Read informative articles on wills, trusts, estate planning and probate.
- How to Avoid Probate in Illinois
When someone dies, the process of settling their estate in Illinois often involves the court-supervised system known as probate. During probate, a court oversees the payment of debts, the validation of a will (if any), and the distribution of assets to heirs. Avoid probate and you avoid this expensive and lengthy process. While probate can offer… Read more: How to Avoid Probate in Illinois - Empower Your Legacy: Give Back With Estate Planning
As Thanksgiving approaches and Giving Tuesday follows, many of us feel inspired to give back to our community. It’s a season of gratitude and generosity. One meaningful way to give back is by incorporating charitable giving in your estate plan. Not only does this allow you to support the causes you care about, but it can also offer… Read more: Empower Your Legacy: Give Back With Estate Planning - How Much Does It Cost to Set Up a Trust in Chicago?
If you’re considering creating a trust, one of your first questions is probably: How much does it cost to set up a trust in Chicago? The answer can vary depending on your situation, but at Palley Law Office, I make it simple by providing clear, upfront pricing. Unlike many firms that ask you to “call for a quote,” I… Read more: How Much Does It Cost to Set Up a Trust in Chicago? - Can You Get Power of Attorney When Someone Is Incapacitated?
Families often ask: “How do I get power of attorney when my loved one is already incapacitated?” The short answer is that you can’t — once a person can’t understand or sign documents, it’s too late to grant power of attorney. In Illinois, different legal processes apply. Understanding these rules helps families avoid costly delays and ensures… Read more: Can You Get Power of Attorney When Someone Is Incapacitated? - How Long Does Probate Take? What You Need to Know
Discover how long probate takes in Illinois, what factors influence the timeline, and strategies to simplify probate and protect loved ones. As with all content on this website, this article is educational in nature, and is not to be relied upon as legal advice. Consult an attorney for counsel specific to your circumstances. Understanding the… Read more: How Long Does Probate Take? What You Need to Know - Probate Fees vs. Trust Setup Costs: What You Need to Know
When planning your estate, one of the biggest questions is whether to rely on a will or create a living trust. Both options help direct how your assets are passed on, but the financial impact can be very different. Probate fees in Illinois often surprise families, while trust setup costs can feel like a bigger upfront investment.… Read more: Probate Fees vs. Trust Setup Costs: What You Need to Know - The High Cost of Not Having an Estate Plan
Many people assume that estate planning is something they can put off—or that it’s only necessary for the uber-wealthy. But the reality is that not having an estate plan carries significant costs, both financial and emotional. These costs can affect your family’s financial security, cause unnecessary stress, and in some cases, permanently damage relationships. Let’s look… Read more: The High Cost of Not Having an Estate Plan - Learn how to protect and pass on cryptocurrency in your estate plan.
Cryptocurrency has become a mainstream investment class. Not just tech enthusiasts, but everyday investors and families increasingly look to Bitcoin, Ethereum and other digital assets to diversify their wealth. Cryptocurrency estate planning is a must for holders of digital assets. Unlike traditional assets—such as real estate, bank accounts, or securities—cryptocurrency presents unique challenges when it… Read more: Learn how to protect and pass on cryptocurrency in your estate plan. - Estate Planning for Parents in Illinois: Protecting Minor Children
As parents, we naturally spend a lot of time thinking about our children’s future — their health, education, and opportunities. But one area many families overlook is what happens if children are left without parents before they’re adults. Who would raise them? How would their inheritance be managed? In Illinois, estate planning isn’t just about… Read more: Estate Planning for Parents in Illinois: Protecting Minor Children - Vernon Martin – Appraising Foreign Real Estate for U.S. Estates
In this post my friend and University of Chicago classmate, Vernon Martin, provides insights into the work he does for American clients with estates that have overseas real estate holdings. Vernon Martin has more than four decades of commercial appraisal experience and has appraised properties on six continents. A former chief commercial appraiser at three… Read more: Vernon Martin – Appraising Foreign Real Estate for U.S. Estates