Getting Started with Estate Planning
Do you really need estate planning? Of course you do! Estate planning is the only way to take control of what happens if you are seriously injured or pass away. Your family needs the peace of mind that comes from knowing that you’ve planned for the unexpected.
Estate Planning 101 — A Tutorial
This tutorial is designed to give you the basics of Estate Planning in Illinois. The lessons are in plain English, with no legalese, and cover a variety of topics from why Estate Planning is important to strategies to reduce estate taxes.
About John
I am committed to using my experience and expertise to help my clients overcome the obstacles to creating the peace of mind that comes from having an estate plan, based on their special circumstances and concerns.
Working together to achieve your family’s peace of mind.
Now is the best time to take the first step and to take control of your life and your estate planning. I’ve helped many clients move forward, and I’ve seen the sense of relief and accomplishment which comes from signing their estate planning documents. I want to work with you to create an individualized plan which will make your family more secure and put you in control if tragedy strikes.
What if I Don’t Have a Will?
What happens if I die and I haven’t done any estate planning? Well, the State of Illinois has a “default” Will for you (called dying “intestate”). The problem is that almost no one would distribute their assets the way that Illinois requires. Without a Will, you’ve lost control of how your family is protected.
Advance Care Directive Regarding Dementia
It’s a tragedy that the medical industry hasn’t made significant progress in the treatment of dementia. Similarly, the legal system has failed to address the complexity involved when dealing with dementia in our health care documents. I have developed an Advanced Care Directive that provides meaningful options for those afflicted with Alzheimer’s or other dementia.
How Do I Protect My Estate Planning Documents?
Congratulations! You’ve spent the time and effort to prepare and finalize your estate planning documents. But, there’s more work to be done. You need to safeguard your documents and ensure that they’re available when needed.
Don’t Lose the Tax Break for Charitable Gifts
If you’re taking Required Minimum Distributions from your IRA, and if you’re making donations to charity, then you can CUT YOUR INCOME TAXES FOR 2018!
How do I calculate the RMD for my IRA account?
Well, you turned 70 a little while ago, and the time has finally come. After decades of making contributions to your IRA accounts, and watching them grow in value tax-free, your financial advisor is saying that you must start taking distributions from these retirement accounts (whether you need the funds or not).
It’s Time to Protect Yourself: Illinois Sets the Rules about Digital Assets.
Act now to assure access to your digital assets if catastrophe strikes. Otherwise, your digital assets and accounts may be lost to your family and loved ones forever.
Pre-Divorce Planning in Illinois
An important, but usually overlooked, aspect of pre-divorce planning is modifying your estate planning documents to correspond with your current situation. The failure to do so can have disastrous results.
We love them like family!
Of course, whenever we say this, we’re talking about our pets. Our pets are totally dependent on us for their survival. They don’t have a safety net if you die or become incapacitated. If you don’t provide for them, your pets will suffer the consequences.
Is it Time to Review Your Estate Plan?
Your estate planning documents were not designed to be “carved in stone.” As our lives progress, invariably there are changes in our circumstances or changes in the law. These changes may require that you need a corresponding change in your estate plan.
Do I need a DNR?
I wrapped up a meeting with a woman who has been my client for many years. Her life had changed, and we revised her will, revocable trust, and powers of attorney. As she left the office, one more question came to her “Do I need a DNR?”
Inherited IRAs Need Protection
The United States Supreme Court recently decided that an “inherited IRA” was not protected under the Bankrupcy Code and could be used to pay the debts of the beneficiary of the IRA.
How to explain your wishes about Life-Sustaining Treatments
Most people have thought about how they would like to die or how they would react if their death was imminent. Many find it difficult to talk about their views and to explain their choices to their loved ones and doctors.
There’s a NEW Power of Attorney for Health Care for 2016
One of the most important documents that anyone can sign is a Power of Attorney for Health Care. It allows you to choose a person to speak for you, if you cannot express your wishes regarding your medical decisions.
