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Principled Advocacy For Families And Individuals With Disabilities And The Professionals Who Serve Them
For families caring for a loved one with a disability, estate planning often involves more than just deciding who will inherit what. If that person receives government benefits, an inheritance could potentially affect their eligibility for those benefits. A special...
When you’re planning for a disabled loved one’s future, even a well-intentioned gift can create problems and affect their eligibility for means-tested government benefits like Supplemental Security Income (SSI) and Medicaid. An Illinois ABLE account offers a way to...
An irrevocable trust can be a powerful estate planning tool. However, it’s not the right choice for everyone. Unlike a revocable living trust, an irrevocable trust generally can’t be changed or revoked simply because the trust’s creator (grantor) later changed their...
Putting together an estate plan is an important step towards caring for your loved ones. In addition to designating the distribution of assets, the conversations that come with putting together your plan can also lead to a better understanding of your financial...
Having an estate plan in place is not nearly as common as many people imagine. According to some reports, roughly 1/3 of Americans have made an estate plan, while the other 2/3 have not. This means that, on average, most Americans do not have a plan at all. The...
A diagnosis of dementia, Alzheimer’s disease or another condition affecting a person’s mental abilities does not necessarily mean that an Illinois resident can no longer make a will. What matters is whether the person still has the mental capacity required to...
What happens to your estate after you pass away? The outcome of your estate can be determined by your will. However, you may not want to draft a will. This can lead to issues for your loved ones. Dying without a will is called dying intestate. Here is what you should...
Estate planning is about more than deciding who receives your assets. If you live in Illinois, it should also include careful planning to reduce unnecessary estate taxes and preserve more of your wealth for your family. Because Illinois has its own estate tax rules,...
When you create an estate plan, one of the most common questions is whether you need a trust. In Chicago and throughout Illinois, trusts can offer important benefits, but they are not required for everyone. The right choice depends on your goals, your assets and how...
There are three key issues to address when establishing a special needs trust. Choosing the right trustee or successor trustee is important. Ensuring there is adequate funding for the trust is also a top priority. Establishing a reasonable structure for the trust is...
