It is a new year, and for many in Illinois, that means looking ahead to the future. We at Mockaitis Law remind you that making plans for the future also includes deciding what happens to your property after your death. If you have yet to take any estate planning steps, now is the time to start.
It can be difficult to see your parents age and decline, mentally as well as physically. You always saw your parents as examples of strength and wisdom. As Illinois residents age, many will develop physical and cognitive conditions that can make them more vulnerable to abuse.
It is not uncommon for people in Illinois to get married after having been married previously whether the prior marriages ended due to death or divorce. In many of these new marriages, at least one spouse has children from their prior marriage and this is where things can become complicated very quickly, especially when looking ahead to inheritances and estate planning.
Many people in the Oswego area work hard to provide for their families and build a legacy they can pass on to them when they die. They spend so much time acquiring their wealth that they fail to take measures to protect it upon their death. According to the AARP, the percentage of individuals who have estate plans is 40.