In the process of estate planning, you may want to ensure that your spouse, children, or other beneficiaries receive what you intend them to have. Unfortunately, if your medical needs require you to enter a long-term medical facility, anything over $2,000 will be subject to use in paying for your … [Read more...]
Giving To Charity After Tax Reform
The Tax Reform Act passed in December 2017 radically changed the rules for itemized deductions. This has affected charitable giving in a significant way. First, the act restricted state and local tax deductions to $10,000 total. Second, it increased the standard deduction for a single person to … [Read more...]
Setting up Healthcare Directives in Glenview, IL
No matter what age you are, there may come a time when you are unable to make your own decisions about your healthcare. This is particularly true when you are in an emergency situation, such as a car accident or other unexpected situation where you are at the mercy of another person’s … [Read more...]
What Happens If The Beneficiary Of An Educational Trust Doesn’t Go To College?
Providing for your children, grandchildren or other young relative’s education is another way to provide for your family after you’re gone, as well as create another trust for your estate plan. These trusts aren’t traditional trust funds, but a 529 college savings plan to be used for educational … [Read more...]
What Information Do You Need To Begin Forming An Estate Plan?
The first step of forming your estate plan involves one thing: getting started. You may be avoiding it because you feel overwhelmed. But like any big project, you have to start somewhere. In the end, you’ll have a thorough, complete estate plan that will protect your interests, follow your wishes, … [Read more...]