The death, disability and isolation caused by COVID-19 highlighted the need for parents and children to assess whether they have appropriate authority to care for the other’s financial and other needs if one is suffering from a medical disability or following their death. As parents age they often need financial and legal protection and advice, and want the comfort of knowing that their affairs are in order on their death. Parents need to clearly convey their wishes regarding their care and their estate, especially if there are children with special needs.
Your family’s lawyer should be able to address your concerns or refer you to a lawyer who can. Trusts, Powers of Attorney and other documents enable financial and other life decisions to be made by designated persons when you are unable or uncomfortable doing so. Wills, Trusts and other documents can ensure that your estate is distributed as you wish. Health care directives can enable your medical records to be shared with those who you want to consult or make care decisions when you cannot.
Not addressing these issues ahead of time can result in legal proceedings, delays, unnecessary expense and family strife. The COVID-19 pandemic is no excuse to delay as our estate planning attorneys can work remotely and any meeting can be conducted pursuant to all safety precautions.
Please call Rick Tarulis, Eric Wilen or Douglas Tibble to arrange an appointment.
This Brief is designed to provide our friends and clients with information regarding the various subject matters covered, it is not designed to take place of legal, accounting or other professional advice. If expert assistance is required, the services of a competent professional should be sought. This memorandum may constitute advertising under the rules regulating Illinois attorneys.
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