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Don’t wait until it’s too late….draft your estate plan

Whether you want to think about it or not, there comes a time in everyone’s life when it is too late to complete an estate plan. Waiting until the last minute, or until a significant life event occurs, can lead to complications and potential limitations. Being an attorney who handles end-of-life directives, I see this all too often.  So, let us explore some of these scenarios and the simple ways to avoid them.

The obvious answer to the question “when is it too late to implement an estate plan?” is if you die before getting it done.  I have yet to meet the person who can predict the future and when they will die.  I understand that life is busy, stressful, and most people do not want to talk about their demise, however; if you are an adult with a family, sometimes you need to have tough conversations.  A great way to think about it is this: if you do not want to talk to an attorney about it while you are alive, your family will have to do it after you pass, and it won’t be a short conversation.  The Illinois probate process guarantees the distribution of your assets will be complicated and expensive.  After having sat on the other side of the table from family going through the probate court process, I can tell you from experience that your family will thank you if you help them avoid probate court.

About the Author
Lauren Jackson
Posted - 02/16/2024 | Illinois