The typical estate planning structure for married couples, of leaving everything to each other and then to the children after the second spouse dies, should be different for second marriages, especially when children from first marriages are involved. While it’s unlikely the second-marriage couple will knowingly plan on disinheriting children belonging to each other, not […]
Common Estate Planning Mistake #7: Failing to include enough powers in a Power of Attorney for Property
Not all Power of Attorney for Property documents are created equal. Some may give authorization for an agent to pay your bills, while others may give authorization for your agent to do more complex things such as setting up a trust for you to protect your assets. In this Elder Law and Estate Planning Minute, […]
Prepaid Funeral Arrangements: The Benefits of Pre-Planning
Planning ahead and prearranging your own funeral, burial or cremation services may not only offer relief to your family in a time of mourning, but may also help in preserving assets while determining eligibility for government assistance to help pay for your care. In this Elder Law Minute, Wes Coulson, Illinois Elder Law Attorney, discusses […]
When it comes to Long Term Care – When you run out of money, you run out of options
Long Term Care in a nursing home can present a wealth of issues, one of which being financial. With proper planning, the money you may have accessible to you when or if that time comes, will help create more available options for you. In this Elder Law Minute, Wes Coulson, Illinois Elder Law Attorney, explains how planning […]
Common Estate Planning Mistake #6: Trying to ‘Do it Yourself’
There can be a false sense of security with ‘do it yourself’ estate planning. While the estate plan may seem strong at the time, it may not prove to be beneficial down the road when unforseen or other possible situations that can occur in life aren’t considered. Consulting with an attorney is the best way to gain a true […]
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