No one can predict the future. That is why it pays to be as prepared as possible, especially regarding the estate planning process. Many people, no doubt including some in Illinois, procrastinate when it comes to planning their estates because they simply do not want to think about their own mortality. Others, however, understand the benefits of executing a thorough plan early in their adult lives.
There are certain things in life that many people, including some in Illinois, would rather avoid, such as going to the dentist. Even when what is being avoided is good for the person in question, he or she might have personal reasons for not wanting to do it. This is often true where estate planning is concerned.
Many Illinois residents have executed estate plans and regularly update them. Others resist the estate planning process for various reasons, such as those who simply do not like to think about their own mortality. It is worthwhile, however, to learn more about the helpful documents one can include in an estate plan, such as a durable power of attorney.
Many Illinois residents worry about becoming incapacitated or not being able to act independently when it comes to financial or health care matters. This is one of many reasons a lot of people grant a power of attorney. It is definitely something to consider, particularly if a person wishes to designate someone to make financial decisions and transactions on his or her behalf.
When an Illinois couple makes plans to marry, there may not seem to be enough hours in the day to get everything done before the big event. Where will the wedding take place? Who will be invited? How much money will they spend and where will they live after they are married? In addition to these topics, couples who want to start married life off on the right foot should include discussions about estate planning in their pre-wedding preparations.
Many Illinois readers who see this post are among hundreds, if not thousands of others, who have been hesitant to think about a topic that is applicable to everyone. Dying is an inevitable part of every life journey. Because many people do not like to think about their own mortality, they procrastinate when it comes to the estate planning process.
Many people in Illinois and elsewhere avoid thinking about the fact that their time on earth is limited. They like to take life as it comes and do not like to think about their own mortality. Others, however, understand that every person's life eventually comes to an end, and they also know that they can use the estate planning process to protect what they've worked so hard to acquire and also help provide future support for their loved ones.
Many Illinois residents are old enough to remember Apollo 11 and the excitement that rang throughout the country when former astronaut, Buzz Aldrin and his team members walked on the moon for the first time. Aldrin recently told a reporter that although he recalls what is was like to gaze at the moon in anticipation of such an event, it is all behind him now. Aldrin acquired many assets through the years and sadly, he, his sons and a former business manager became entangled in an estate planning dispute.
Many Illinois residents want to protect their assets and provide for their loved ones after they die or in the event that they become incapacitated. However, many err when it comes to estate planning because they think that once they sign their documents, they do not have to give their plans another thought. In reality, careful planning should always include periodic review of an existing plan.
A two-part series recently aired on Home Box Office that has upset the Michael Jackson estate. The music icon's drug-overdose death rocked the world in 2009. Some time later, the estate sold its stake in EMI Music Publishing to Sony, which generated $400 million to the estate in 2018. The recent subscription channel series has prompted estate litigation, with Jackson's estate filing a lawsuit against HBO.