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Estate Planning Frequently Asked Questions

Experienced Naperville Living Trust and Estate Planning Lawyer

Wills, Trusts, and Powers of Attorneys in Naperville and Plainfield

This article will address frequently asked questions regarding the estate planning legal process in Illinois. We will explore estate planning questions. The first question is the following:

Naperville and Plainfield Estate Planning Attorneys

Wills & Revocable Living Trust in Plainfield, Oswego and Romeoville

What is an Estate Plan?

An estate plan is a plan that is a holistic solution to your life or death issues dealing with issues such as who should inherit your property upon your death or who should be your power of attorney in case of an incapacity. An estate plan is the process of setting up a smooth process of your assets in case of a death or incapacity. Generally, an estate plan consists of a Will or Revocable Living Trust.

Role of a Real Estate Attorney During The Closing Process

Experienced Residential Real Estate Attorney in South Naperville and Oswego

Real Estate Purchase Agreement 6.1 Attorney in Illinois

The role of a real estate attorney is important in Illinois. Generally, there are four major roles of service providers during the real estate closing process. These four (4) real estate service providers are the following:

  • Realtor
  • Mortgage Broker or Mortgage Lender
  • Home Inspector
  • Real Estate Attorney

How to Protect Parent’s Assets From High Cost of Nursing Home Care?

Naperville and Plainfield Estate Planning and Elder Law Attorneys

If you are considering your estate plan and are thinking about nursing home care you advanced planning is critical. Robertson Legal Group, LLC serves families, seniors, and the elder in and around the South Naperville, Oswego, Aurora, Bolingbrook, and Romeoville areas. Our office is located in South Naperville near 95th Street and Route 59.

How Can I Afford The Cost Of Nursing Home Care?

Pay for it privately. You can make sure that you have enough of your own funds to afford the cost with no other resources.

Long term care insurance. This insurance begins covering the insured once it is triggered generally when the insured can no longer perform usual daily tasks. The policy pays out a certain dollar amount each day or month depending on the policy. An example So it could cost you 200 dollars a day in a long-term care facility and your insurance could only be covering 120 dollars per day. This leaves with an additional 80 dollars to pay a day, which needs to be paid with an alternative method.

Transferring assets into an estate instrument (Trust). Having a trust to hold and manage your assets are always an option. However, a knowledgeable estate planning attorney will need to advise you as to your eligibility with Medicaid. There is a five (5) year look back rule so this type of asset protection and estate planning requires the skill of an experienced estate planning lawyer.

Buyer’s Real Estate Closings 101: Duties of Attorney

South Naperville, Oswego, and Plainfield Real Estate Closing Attorney

The majority of a Buyer’s Attorney’s work is done before the closing. These duties include:

  • Negotiating, drafting, and reviewing your real estate contract;
  • Possibly helping the client obtain financing;
  • Dealing with the lender and real estate broker to make sure that all requirements of the loan are met;
  • Discuss tax consequences of the purchase;
  • Possibly ordering and reviewing title (usually the seller’s attorney);
  • Negotiating either repairs or credits for repairs after the home inspection; and
  • Possibly reviewing bylaws, minutes and other documents if the property is a Condominium or Home Owners Association.

Why You Need Special Needs Language in A Last Will and Testament and Special Needs Trusts

NAPERVILLE AND OSWEGO ESTATE PLANNING BY ROBERTSON LEGAL GROUP LLC ESTATE PLANNING ATTORNEYS

When making plans for your family and your estate there are many facets to consider to ensure that your loved ones are protected after you are gone. One of the most sensitive and complex areas of estate planning is making sure that your estate plan adequately protects a loved one that is currently disabled or who may become disabled later in life.

The reason that aspects of an estate plan can become complicated is because disabled adult beneficiaries who would otherwise be eligible for benefits from Social Security or Medicaid may be disqualified due to an improperly structured estate plan.

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