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November 2019 Archives

The benefits of life insurance in Illinois estate planning

There are some things that can bode very well when it comes to an estate plan. Illinois residents thinking about their estate planning decisions might want to know how life insurance can play a part in those plans. Life insurance, for one, is exempt from taxes, so when there is a sizable financial gain for beneficiaries, a testator may wish to give life insurance some important consideration. Life insurance policies can actually be used in creative ways in estate plans.

Long term care planning necessary for unforseen events

Many have said that getting older is a privilege. But advancing age may come with the need for extra care and that costs money. The need for long term care planning for Illinois residents has never been more crucial since more than half of those aged 65 or older will have long term care costs. Statistics from the U.S. Department of Health and Human Services' Administration on Aging show that men will need help in old age for more than two years, while that number is nearly four years for women.