Time may have gone by quickly as you grew from a child to an adult. Now, you may find that your parents are aging, and you want to take good care of them.
One way to ensure your parents are cared for in the manner they wanted, and that their wishes following their death are followed, is through good estate planning.
If your parents die without a will or trust, their estate will be passed on to heirs per state laws of intestate succession. This basically means state statute decides who is to inherit, which may or may not be what your parents would have chosen.
If your parents execute a will, they can pass their assets on to whoever they choose. Moreover, if your parents execute a trust, they can also include directions on how their trust assets are to be distributed.
When your parents are on life support, many difficult decisions will need to be made.
These topics can all be addressed by your parents in an advance medical directive. This document outlines what end-of-life preferences your parents have, leaving out the guesswork during what can be a difficult time.
It may be that your parent becomes incapacitated for a while before they pass away. They could fall into a coma or develop dementia or Alzheimer’s.
In these situations, they will need someone to make health care decisions on their behalf and manage their finances. Through a medical power of attorney, your parents can designate who they want to make health care decisions on their behalf if they become incapacitated.
Through a financial power of attorney, your parents can designate a person to manage their finances if they become incapacitated.
If you need any help regarding your estate or other legal matters please reach out to us directly here and schedule a call with one of our paralegals on our scheduling page here.
As a blog exclusive, we also have some free estate planning resources for you! View our life planning guide and our estate planning checklist below to either begin your estate planning or check to be sure you're up-to-date on your documents.
If you need help with estate planning or any other legal concerns, we are here for you. Don't hesitate to contact our firm directly for assistance. Our dedicated team is ready to provide support and guidance to you and your loved ones during important life transitions.
Whether you're ready to schedule a strategy session to discuss your specific needs or if you're interested in exploring our wide range of complimentary guides and additional resources, we encourage you to get in touch with us.
With licensed attorneys and offices located in both Illinois and Missouri, we are well-equipped to serve clients in these regions. Reach out to us today and let us leverage our expertise and care to guide you through the legal process.
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Mt. Vernon
1115 Harrison St. Mt. Vernon, IL 62864
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Edwardsville
217 South Main Street, Edwardsville, IL 62025
618.659.4499
East Alton
1 Terminal Dr. East Alton, IL 62024
618.258.4800
Wentzville
511 W. Pearce Blvd. Wentzville, MO 63385
636.332.5555
Swansea
7a Park Place Swansea, IL 62226
618.239.4430
Chesterfield
13321 N. Outer 40 Road, Ste. 700, Chesterfield, MO
636.332.5555
Creve Coeur
12747 Olive Blvd., #300, St. Louis, MO
636.332.5555
Mt. Vernon
1115 Harrison St, Mt. Vernon IL
618.242.0200
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