The loss of a loved one is never easy. Nothing, however, can prepare you for the pain of losing your mother. No matter how old you are, nor how long and happy a life your mother lived, your mother’s death will be followed by a period of grief and loss. If your mother named you as the Executor of her estate, you must find a way to set aside your grief long enough to get started on probating her estate. Fortunately, help is available. The attorneys at Nash, Nash, Bean & Ford, LLP can help you … [Read more...]
Estate Planning Attorneys Discuss Options for Distributing Your Estate
One of the most common reasons for creating an estate plan is to ensure that estate assets are distributed according to the creator’s wishes. If you are ready to get started on your estate plan, you will need to make a number of decisions related to the distribution of your estate assets. In order to make informed decisions about who to leave your estate assets to and how to effectuate the transfer of those assets, you need to know as much as possible about the available options. To help you … [Read more...]
Living Trust Attorneys Explain How a Trust Can Help with Incapacity Planning
When you think about the need for estate planning, you likely envision a plan that will protect and provide for loved ones in the event of your death. Your eventual death, however, should not be the only focus of your estate plan. The possibility of your incapacity should also be covered in your comprehensive estate plan. While there are a number of estate planning tools and strategies that can be used to plan for incapacity, a living trust is one of the most popular of those tools. The trust … [Read more...]
Will Medicaid Cover at Home Care?
In the United States, the average life expectancy has almost doubled over the last century. While advances in medicine and science now allow us to live much longer, a way to stop the natural aging process has yet to be discovered. The combination of a longer life expectancy coupled with the physical and mental effects of the natural aging process increase the likelihood that you will need nursing home care or in-home care at some point during your retirement years. Like most seniors, you … [Read more...]
Hidden Dangers in DIY Wills
If you have yet to create your estate plan, you may be tempted to try taking a shortcut by turning to easily located online legal forms such as Do It Yourself (DIY) Wills, trusts, or other estate planning documents. After all, using a DIY Will should save you both time and money and finally get your estate plan started, right? It may seem that way to you; however, in the end your loved ones may pay the price for your shortcut because of the hidden dangers in DIY Wills. To help you understand … [Read more...]
How Can a Trust Help with Incapacity Planning?
When you think about the need for estate planning, you likely envision a plan that will protect and provide for loved ones in the event of your death. Your eventual death, however, should not be the only focus of your estate plan. The possibility of your incapacity should also be covered in your comprehensive estate plan. While there are a number of estate planning tools and strategies that can be used to plan for incapacity, a living trust is one of the most popular of those tools. The … [Read more...]
Explaining Federal Gift and Estate Taxes
When you think about estate planning you probably focus those thoughts on the distribution of your estate assets after your death to your loved ones. In order for there to be assets left to distribute, however, you must also make protecting your assets part of your comprehensive estate planning efforts. Some of the threats to your assets are obvious, such as creditors; however, there are other potential threats that you may not have considered. Federal gift and estate taxes, for example, could … [Read more...]
Tips for Protecting Your Older Loved Ones
As we age, so do our parents and other older loved ones. At some point, your older loved ones will likely need more care than you can provide on a daily basis. That means entrusting the care of your loved one to a stranger. Understandably, you may be reluctant to trust anyone else to care for your loved one, particularly given the number of horror stories we hear on an almost daily basis about nursing home neglect and elder abuse. Sadly, it is often family members who are the perpetrators of … [Read more...]
What Happens If You Die without a Will in Illinois
Most people recognize the need to have at least a basic estate plan in place. Despite acknowledging that one is necessary, over half of all Americans have not even executed a basic Last Will and Testament. One reason many people have yet to execute a Will is that they believe that, in their case, it isn’t necessary. A common misconception is that you don’t need a Will unless you have a large, valuable estate that you plan to leave behind. The truth, however, is that almost everyone can benefit … [Read more...]
Are Your Assets Safe?
When you contemplate your estate plan, you probably focus on how you wish your assets to be distributed when you are gone. This is certainly an important aspect of estate planning; however, it may not even be the most important aspect. In order to have assets left to pass down to loved ones when you are gone, you must protect the assets you have while you are here. With that in mind, attorneys at Nash, Nash, Bean & Ford, LLP point out some of the less recognized potential threats to your … [Read more...]
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