Estate Planning

National Healthcare Decision Day 2013

Posted on: April 16th, 2013
April 16th is National Health Care Decision Day. Advanced Health Care Directives and Living Wills are key components in any effect Estate Plan. If you do not have these documents in place we strongly encourage you to use today to remember to do so. Also, if you have documents in place are they current and up to date? In July of 2011, the State of Illinois made major changes to the Statutory State Health Care Power of Attorney. If your documents are dated before then you may want to consider updating them as well....

Treating Children Fairly Does Not Necessarily Mean Equally

Posted on: April 8th, 2013
Most parents want to treat their children fairly in their estate planning, and many assume that means having their children inherit equally. But fair does not necessarily mean equal. There may be special circumstances to consider....

What and When Should You Tell Your Children About Their Inheritance?

Posted on: April 1st, 2013
Not many parents like to talk to their children about their wealth. How much money people have is usually considered a private matter, something it's not polite to talk about. But not talking to children about how much they may inherit can leave them unprepared to handle even a modest amount...

How To Leave Assets to Minor Children

Posted on: March 25th, 2013
Every parent wants to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles and other relatives often want to leave some of their assets to young children, too. But good intentions and poor planning often have unintended results....

How To Leave Assets to Adult Children

Posted on: March 17th, 2013
When considering how to leave assets to adult children, the first step is to decide how much each one should receive. Most parents want to treat their children fairly, but this doesn't necessarily mean they should receive equal shares of the estate. For example, it may be desirable to give more to a child who is a teacher than to one who has a successful business, or to compensate a child who has been a primary caregiver....

The Many Needs for Life Insurance in Our Lives

Posted on: March 11th, 2013
The main reasons most people have life insurance are to pay final expenses (medical, funeral, burial, etc.), replace an income stream and/or create wealth for our dependents after we die. Life insurance can also play an important role in business, estate planning and charitable giving....