It’s a scenario most people don’t want to think about: they can no longer care for themselves. This is called incapacity. Incapacity may come about post-accident or if you develop a debilitating disease, such as cancer or Alzheimer’s. A comprehensive estate plan needs to include planning ahead for … [Read more...] about Planning Ahead For Incapacity
What is a Health Care Directive?
Nobody wants to think about what will happen to them if they become sick, incapacitated, or die. However, advanced care planning is an important part of life. An accident, injury, or unexpected diagnosis can cause people to need to use their health care directives. Without one, it is possible that … [Read more...] about What is a Health Care Directive?
Common Choices for Chicago Gift Planning
When it comes to making final decisions for what to do with your estate, many people want to leave behind an impact on the world. Finding a way to donate assets to your favorite charity, cause, or institution is one way that many people choose to give back. Here are some of the things to know about … [Read more...] about Common Choices for Chicago Gift Planning
Understanding Grantor Retained Annuity Trust (GRAT)
Estate planners who want to maximize their estate for their beneficiaries but reduce their estate for tax purposes have a wide range of tools to choose from. Trusts are one of the many ways to transfer money from an estate into separate mediums for the beneficiaries. Although we've discussed … [Read more...] about Understanding Grantor Retained Annuity Trust (GRAT)
Educational Trusts for Grandchildren
Estate planning can encompass a wide range of instruments that can preserve wealth and provide your grandchildren with an education that will serve them well in the future. But just leaving them a large sum of money in your will that you’ve earmarked for “education” may not be the best idea. … [Read more...] about Educational Trusts for Grandchildren
