Sunday, May 9 is Mother’s Day, a holiday honoring motherhood and the contribution mothers make to our families and to society. Moms are often the caretakers of the family, making sure everyone is protected and taken care of. But who’s taking care of mom? This mother’s day, ensure mom is protected. This mother’s day, choose a gift that will provide mom with peace of mind. Estate planning and end-of-life planning are difficult conversations to have with a parent, but your mother will appreciate knowing you care and want to protect her future.
Breakfast in bed and a bouquet of flowers are nice – but this Mother’s Day, give mom peace of mind and protect her future. Estate planning is a gift that lasts a lifetime. Estate planning is not only creating a will. A comprehensive estate plan protects your mom today, and in the future. Moms are used to planning for the unexpected. But unfortunately, too often women fail to plan for a future when they cannot care for their families. No one plans to die young or unexpectedly – but it happens. Estate planning can help women take control of their future and protect themselves and their families in case of their unexpected death or if they become incapacitated.
Women have longer lifespans and lower earning power, and women have more to lose and put their families at risk if they are financially unprepared. This mother’s day, gift mom a consultation with an experienced estate planning attorney who can help her protect her future and her family.
1. Health Care Proxy
If you become incapacitated, who do you trust to make your health care decisions? If you don’t appoint a health care proxy, the courts will assign someone to make your medical decisions – and it may not be a person you trust. A Healthcare Power of Attorney is a durable power of attorney, a legal device that allows one person to indefinitely make decisions on behalf of another.
2. Medical Power of Attorney
A Medical POA is a Durable Power of Attorney for Health Care is a signed, witnessed legal document where someone designates an agent to make health care decisions if they are temporarily or permanently unable to make such medical decisions. A durable power of attorney for health care lasts indefinitely and the person granting the POA authority typically retains the power to revoke it.
3. Living Will
Creating a living will allows you to specify your medical wishes and ensure that your family members understand your health care choices. It is a signed, witnessed legal document that informs your health care provider of your wishes to withhold or withdraw medical intervention and end-of-life or healthcare decisions if you are in a terminal condition or are unable to make decisions about your medical treatment.
A trust can protect your assets from the cost and stress of probate court and takes effect as soon as you create it. Depending on your wishes, your beneficiaries can receive your assets immediately, in the future, or after your death. The assets of a trust can continue to be given to your heirs for years, even generations.
If someone can no longer make their own decisions, the court can appoint a guardian. Guardianship is a legal term that refers to the legal right to make decisions for someone else. Illinois law gives courts the flexibility to tailor guardianship to meet the needs and capabilities of disabled persons.
Estate planning will make your mother’s life easier if the unexpected should happen. It will also give your family peace of mind that they didn’t have before; something that every mom deserves.
Women have unique concerns in estate planning due to longer lifespans and lower earning power, women have more to lose if they are financially unprepared. Prepare for the future by contacting an experienced estate planning attorney at Estate & Probate Legal Group in Lombard Illinois at 630-864-5835.