Palley Law Office Blog
Read informative blog posts on wills, trusts, estate planning and probate.
- Can a Trust Own Cryptocurrency in Illinois?Yes. In many circumstances, a trust can own cryptocurrency just as it can own bank accounts, brokerage accounts, real estate, and other property. However, ownership is only part of the analysis. For many cryptocurrency owners, the more important questions involve access, administration, and how digital assets will be managed if the owner becomes incapacitated or… Read more: Can a Trust Own Cryptocurrency in Illinois?
- How to Move Cryptocurrency Into a Trust: A Step-by-Step Checklist for Continuity of AccessCryptocurrency can be one of the easiest assets to lose after death or incapacity. Unlike a bank account, crypto may not be recoverable if no one knows where it is held, how it is accessed, or who has legal authority to manage it. A trust can help, but only if the legal documents, custody plan,… Read more: How to Move Cryptocurrency Into a Trust: A Step-by-Step Checklist for Continuity of Access
- I’ve Got a Simple Estate – Do I Really Need Estate Planning?
It is a question many people quietly ask themselves: Is estate planning really necessary? After all, I won’t be around, and I don’t want to think about it. Meeting with an attorney, making decisions about wills or trusts, signing documents, and paying legal fees can feel like just one more unpleasant obligation to take on.… Read more: I’ve Got a Simple Estate – Do I Really Need Estate Planning? - How to Avoid Probate in IllinoisWhen someone dies, the process of settling their estate in Illinois often involves the court-supervised system known as probate. This post discusses how to avoid probate by planning ahead. Avoiding probate means avoiding the probate court overseeing the management of the estate and the delays, attorney fees and filing expenses that come along with that.… Read more: How to Avoid Probate in Illinois
- Pay it Forward – Charitable Giving and Estate PlanningAs 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… Read more: Pay it Forward – Charitable Giving and Estate Planning
- How Long Does Probate Take? What You Need to KnowHow long does probate take in Illinois? Discover 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… Read more: How Long Does Probate Take? What You Need to Know
- Probate Fees vs. Trust Setup Costs: What You Need to KnowWhen 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 expenses in Illinois are substantial. The cost of a living trust is usually much lower.… Read more: Probate Fees vs. Trust Setup Costs: What You Need to Know
- The High Cost of Not Having an Estate PlanMany people assume that estate planning is something they can put off—or that it’s only necessary for the wealthy. But the reality is that the cost of not having an estate plan is significant, in both financial and emotional terms. These costs can affect your family’s financial security, cause unnecessary stress, and in some cases,… 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.
- How to Care for Minor Children in Your Estate PlanAs 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? This article discusses important things to consider… Read more: How to Care for Minor Children in Your Estate Plan