Why Is It Important to have an Estate Plan?

Why Is It Important to have an Estate Plan

The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.

Ask Mom if She has a Will

Ask Mom if She has a Will

My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.

Is ABLE Account the Same as Special Needs Trust?

Is ABLE Account the Same as Special Needs Trust

Because of astronomical costs of care and support—often more than $100,000 per year—most individuals with disabilities will need government assistance, such as Supplemental Security Income and Medicaid.

What a Family Caregiver Needs to Know

What a Family Caregiver Needs to Know

If you’re a caregiver, part of your job may be to keep track of your loved one’s legal affairs. You probably know — or are learning — that it’s a big responsibility.

How Do Special Needs Trusts Work?

How Do Special Needs Trusts Work

Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility.

What Is Better, a Trust or a Will?

What Is Better, a Trust or a Will?

Preparing an estate plan for managing and distributing your assets in the case of death is one of the most important steps you could take to protect and provide for loved ones.

How Does a Trust Fund Work?

How Does a Trust Fund Work

Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.

How Do I Plan with a Special Needs Child?

Planning for special needs child

For parents who have a child with special needs, planning for their loved one’s life after they themselves are gone can be overwhelming. Breaking the process down into manageable parts and working with specialized professionals and companies can help.