You’re leaving to go on vacation, either with or without the kids, and you realize you never got around to doing your estate planning. What if something happens? What should be a happy, exciting departure, can quickly turn into a stressful one. You don’t have time to assess your long term goals— you need the basics in a hurry! We can help. Read on to see what documents you should have in place to cover the basics. Then, enjoy your vacation knowing that you have covered the basics and upon your return,make another appointment so that together we can fully evaluate” your circumstances and your goals in regard to your long range planning needs.
Under this document, you name a trusted individual to act as your agent. Your agent will have the authority to act on your behalf in situations where you are incapacitated either temporarily or permanently. The document will express your preferences in regard to organ donation and life support, which will serve as a guide to the appointed agent. Medical doctors and hospitals will look to the appointed agent to make decisions concerning medical treatment and care. Every adult should have a current Power of Attorney for Healthcare.
Under this document, you name a trusted individual to act as your agent. Your agent will have the authority to act on your behalf in regard to financial matters. That authority can, but is not always, limited to times when you are unable to take care of your own affairs. Your agent will be able to pay your bills, manage your finances, investments, real estate and other property on your behalf. The powers can be as broad or limited as you are comfortable with. Every adult should consider having a current Power of Attorney for Property.
Plan for the unthinkable! If something happens to you, who will take care of and raise your children? What will happen to your property? Leaving guardianship unplanned and minor children as direct beneficiaries of your assets can have devastating results for an already grieving family. Every Will allows you to choose the persons that will continue raising your children to adulthood. Including a contingent trust in your Will ensures that your assets are managed and distributed in a manner that is in the best interests of your children.
Semmelman & Semmelman, Ltd.
900 North Shore Drive
Lake Bluff, IL 60044
Semmelman & Semmelman, Ltd. serves clients in Illinois such as Lake Bluff, Lake Forest, Libertyville, Vernon Hills, Highland Park, Mundelein, Gurnee, Grayslake, Wadsworth, Ingleside, Antioch, Wauconda, Lake Zurich and the rest of Lake County.
Regional Nicknames: Lake County, Illinois
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