Mar 24, 2014
By Attorney Rick Law of the Estate Planning Center at Law Elder Law in Aurora, Illinois.
When thinking about estate plans, most people imagine only a will, and their will reads like this: “When I die, I leave everything to my sweetheart. If my sweetheart dies before me, then I leave everything equally to my wonderful children.”
When the wills were created, the two sweethearts were probably healthy and vigorous and didn’t think about long-term care and $8,000-per-month nursing home beds.
Sweetheart wills may have worked in the not-so-olden days when people died quickly. But today, 70 percent of us will suffer from a long and slow decline before our deaths.
Sweetheart wills often result in unexpected consequences when one of the sweethearts needs long term care.
If you’re ready to start getting your estate in order and secure your assets for the “worst-case” scenario, please give our office a call at 630-585-5200 or 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney for the past 3 years by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Conveniently located off I-88 across from the Aurora Premium Outlet Mall.
My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!
Tom G., Naperville, IL