Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Conveniently located off I-88 across from the Aurora Premium Outlet Mall. Call 630-585-5200 or 800-310-3100 for your free consultation now!
By Attorney Rick Law, Senior Estate Planner and Elder Law Attorney in West Suburban Aurora, IL
Often, as we meet with clients, it becomes clear to us that they are concerned about what will happen to their vulnerable loved ones.
They may be worried about their adult child who has been physically or mentally disabled since birth. It may be a child with severe learning disabilities that they care for and support while trying to help their child be as independent as possible.
It may be a child who was perfectly healthy at birth but in later years developed a disability such as MS, or became disabled as a result of an accident and is now in need of extra care and support.
Or, it may be a child that is in an abusive relationship, or the child that has never been able to handle money. It may be a child that had (or still has) an addiction.
Whatever the reason, these parents or parent see that they have a vulnerable adult child who will need continuing care and support.
But our client can also be an adult child who has been caring for his or her parent, but now that child is ill.
I recently met with a daughter who had been battling cancer and knew she would lose her battle in the very near future. Her mother was able to live independently at home, with her daughter’s assistance. The daughter wanted to make sure that her mother’s special needs were taken care of, but did not want money left outright to her mother for fear of financial abuse, creditors, predators and the high cost of a nursing home if that level of care became necessary.
And in some cases, our client has no children but has a beloved pet and is concerned that no one will care for the pet after their death.
We have developed within our firm several trusts that are designed to care for the vulnerable loved ones that our clients may be leaving behind. Those clients understand that they cannot leave money to these individuals outright, since the beneficiaries cannot handle money well and would inevitably be taken advantage of and left unprotected.
Our trusts provide peace of mind for our clients, with the knowledge that their loved ones will be cared for and not exploited.
If you’re ready to start getting your estate in order and secure your assets for your loved ones, please give our office a call at 630-585-5200 or 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Rick L. Law