Some people -- most people, perhaps, in both Illinois and across the country -- harbor a few fundamental misconceptions concerning the topic of estate planning and administration.
Here's one: It's only applicable for individuals who are relatively advanced in age.
Here's another, from the perspective of comparatively younger generations: Yes, it will likely make sense for me some day, but only when I'm far more financially stable than is currently the case.
And then there's this, posed in the form of a query often posed by those reflecting on estate planning: Doesn't it apply only to the safeguarding of wealth and its transfer to successive generations?
The Illinois law firm of Donald R. Johannes has been educating and diligently representing estate planning clients for many decades, responding to broad-based concerns and helping individuals and families from all walks of life promote their planning objectives in an optimal manner.
In doing so, our firm routinely points out the wide utility of sound planning across a broad universe of considerations. Yes, estate-related concerns are often -- and properly -- focused upon asset preservation and inheritances, but they also encompass things like lawful tax avoidance, the drafting of wills and various trusts, gifting, planning needs where children are involved, charitable giving, the special needs of loved ones, health care concerns and myriad other matters.
And it is often the case that early planning far more adequately addresses and promotes important objectives than does getting off to a late start.
A well-considered, carefully crafted and periodically revisited estate plan can go far toward ensuring a family's peace of mind and safeguarding the interests of loved ones into the future.
Our objective at Donald R. Johannes, Attorney at Law, is to promote those aims for all our clients. We welcome contacts to the firm and the opportunity to apply our proven advocacy on behalf of every client who needs our help.