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Posts tagged "Estate Planning and Administration"

Is it time to talk with your parents about estate planning?

Many Illinois residents are adult children of aging parents. In some households, elderly parents live with a son or daughter. There are also older parents who are able to maintain independent lifestyles, and some who have transitioned into semi or fully-assisted living facilities. As parents age, estate planning often becomes a big concern.

Estate planning is useful for wealthy estates

Getting certain affairs in order can have its difficulties. When it comes to estate planning, Illinois residents have a lot to go through and organize in efforts to make their wishes known. Though it may seem like a challenging task, it is one that is often worth the effort.

Issues that warrant estate planning updates

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.

No need to fear the estate planning process

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.

Estate planning: What is a durable power of attorney?

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.

Financial power of attorney: How does it work?

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.

Wedding bells soon to ring? Don't forget estate planning talks

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.

Estate planning: It's never too soon to start

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.

Estate planning may be beneficial for these reasons

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.

Review of former astronaut Buzz Aldrin's estate planning dispute

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.

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