Many people focus their estate planning efforts on what will happen after their death, but this focus can leave their plan incomplete. If illness or injuries leave you unable to manage your own affairs, powers of attorney could be key to protecting your financial...
MADISON COUNTY ILLINOIS ESTATE PLANNING BLOG
Learn the basics of designing an estate plan
Creating an estate plan is an oversight for many people. Others avoid it simply because of the difficulties it presents over thinking about death – either our own or those of family members. A recent survey shows that only 42% of American adults currently have a will...
What is a special needs trust and why might you need one?
There are many components to think about when you are creating your estate plan. One of these is trusts, which help you to transfer assets to your loved ones without them having to use the will and probate court to get this done. If you decide that you are going to...
Talk to your family about your estate plan
Having an estate plan is a must for all adults, but some might not discuss the contents of the plan with anyone. This can leave your loved ones confused and wondering what you were thinking when you created the plan. A better option is to have at least a brief...
Why do I need a health care power of attorney?
So you drafted your will and funded a small trust for the grandkids' college expenses. You are relieved that your estate planning duties are now complete. But not so fast! You forgot one very important document.No estate plan is complete without a signed heath care...
Adults over 50 should have medical care plans in place
Around 45 percent of people who are 55 or older don't have an estate plan in place. This puts their family members in a precarious position because they might not know what their loved one wants. Instead of leaving their final days and the disposition of their assets...
3 reasons to work with an estate-planning attorney
You have probably heard that it is possible to plan your own estate using will kits or other do-it-yourself techniques. The truth is that it is possible to establish your estate and to maintain it that way, but the likelihood is that there will be mistakes and that...
The majority of Americans don’t even have a will
A will is the most basic part of any estate plan. It forms the foundation of that plan, dividing assets and leaving them to specific heirs. It should, theoretically, get coupled with things like a legal power of attorney, an advance directive and a medical power of...
If you have children, you need to consider estate planning now
Far too many people put off estate planning until they have to confront a reminder of their own mortality. Whether it is the death of a parent or a major medical event, it can take dramatic life experiences to inspire most people to plan for the end of their life....
Why you should avoid do-it-yourself wills
When it is time to draft your will, you might be tempted to just grab a do-it-yourself kit and try to handle things at home. This usually isn't a good idea because it is difficult to condense complex estate planning objectives into a simple document like the ones...
