Our Estate Planning Blog
For older adults without children, the question of who will step in to help manage their finances or make medical decisions for them can be a source of stress.
Most people spend a lot of time planning for the financial side of retirement. However, once retired, there are a few estate planning tasks to do. Your life has likely changed since the first time your estate plan was done, says the article “5 Estate Planning Changes To Make After Retirement” from Go Banking Rates. Get ready for the next phase of your life with an update to your estate plan. This is especially true with the SECURE 2.0 Act measures coming into effect this year. Retirees need to address new rules regarding catch-up contributions, required minimum distributions (RMDs), Roth…
Families often assume that because their adult children get along, have good judgment, and respect one another, they will simply “figure things out” after their parents pass away. Unfortunately, this belief can lead to unnecessary conflict, financial imbalance, and legal problems—especially when a family business or farm is involved. As a will and trust lawyer in Naperville, I routinely see the consequences of failing to put a formal plan in place.
In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
Are you worried about what might happen to your accounts and investments if you become disabled or incapacitated?
A living will is a legal document that allows you to specify the kind of care you’d like to receive in end-of-life situations. This is different from an advance healthcare directive, though either one can be an important part of an estate plan.
Speak to your local Naperville estate planning attorney to make a living will as soon as possible.
What should you do to plan for an emergency where you were incapacitated and not able to make your own healthcare decisions?
Unique aspects of the coronavirus pandemic may cause you to re-evaluate some elements of your current estate plan.
The coronavirus pandemic is causing confusion for families of those who need to go to the hospital for care for suspected COVIS-19 infections.