Please join Law Hesselbaum in welcoming our new addition!
Partner Faviola Ramirez and her husband Erik are thrilled to announce that Elizabeth Grace has joined their family. Big brother Walter loves his new role and is teaching his baby sister a thing or two about dinos. They just celebrated their first Easter as a family of four and couldn’t be happier.
We are often asked how often estate plans should be updated. The answer depends on what’s going on in your life!
Life changes, like a new child or grandchild, a new spouse, finally purchasing that vacation home that you’ve been planning for years, receiving an inheritance, or just having more assets now than you did at the time you created your original estate plan, are all reasons to have your estate plan reviewed.
Or the person you chose to be your trustee or agent under your Power of Attorney has moved farther away, or maybe you changed your mind about who you named as your agents or beneficiaries.
You may want to add charitable donations to your estate plan. And, if the value of your estate is nearing or over $4,000,000, you may need to do an updated estate plan with tax planning for the Illinois Estate Tax.
Your estate plan should be reviewed if there’s a divorce or a medical diagnosis, either for you or your beneficiaries.
If it has been more than a decade since you made your original estate plan, you definitely should have a review!
Remember that your estate plan is not written in stone! It should grow and change with your life and your family.
If something has changed in your life, please call our office at 630-585-5200. We are here to help with life’s transitions!
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