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When you purchase a vehicle you don't just buy it and forget about it. You invest in periodic maintenance to prevent problems. You should do the same with your estate plan to prevent possible catastrophic failure. Life is not static. Life happens. The facts in your life change over the course of time. Thus, you should update you estate plan every few years ... or sooner as the facts of your life change.

Life Care Planning, Estate Protection, Disability,
VA & Medicaid Assistance Lawyers

When Good Estate Plans Go Bad


Blog Category:
4/12/2010
Richard J. Habiger, J.D.
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Dodge CaravanThink of your life as a trip. To get where you are going with less effort, you purchase a car. You spend a lot of time figuring out the make and model. Then you buy it and drive it off the lot and forget about it... right?

Nope! To get the best results out of your car, a major purchase, you change your car's oil every 3000 miles. You also invest in maintenance and preventative care throughout the life of your vehicle. If you do not do this you are likely to suffer catastrophic failure at an inconvenient time, or worse.

An estate plan is analogous to your car, since it transports people and things you care about powered by a lifetime of dreams, work, and assets. Great plans, like great cars, should come with a dedicated service staff to provide diagnostics and service before they are needed urgently.

Ask yourself, how do you know that your plan is current? Do you Sleep Well at Night? A glaring example of this uncertainty is that soon, with the change in the Illinois law implementing the Deficit Reduction Act retroactively to February 8, 2006, many families and spouses face potential estate planning disaster.

HAELO is here to help you or your loved one to develop a good plan that will avoid the impending disaster.

Now you know what we do for our clients. Call 618-549-4529 or, toll-free, 800-336-4529. Or email us at staff@HabigerElderLaw.com.



Category: General


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