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The Driving Talk: How to Talk to Your Elderly Parents About Driving
Adult children face many difficult conversations with their parents, but the hardest may be how to talk to their elderly parents about driving. Before approaching this sensitive topic, it's best to understand what driving means to them -- and it goes much deeper than...
Bills, Debts and Taxes: Will your debts die with you?
So, who pays your debts when you’re gone? Your spouse? Your kids? What happens when someone dies, leaving debts and not enough money to pay them? The Good News About What Happens to Debts When You Die Here’s the good news: No one else is required to pay your debts, as...
How to Choose an Excellent Estate Planning Attorney
A recent survey on estate planning showed that 53% of respondents said it's difficult to find an advisor they trust. We understand how hard it is to choose an estate planning attorney. After years of working with many, many clients, we feel pretty good about knowing...
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IRAs: The Best Time to Pay Your Taxes
"When is the second best time to pay your taxes?" Many of our clients have retirement accounts, such as an IRA, 401(k) or a 403(b). These accounts take careful planning. Why? Because the accounts typically have never been taxed, and how you plan for them will...
7 Questions to Ask In Order to Do Effective IRA Planning
IRA planning can be tricky. In order to make sure you plan as best as you can, you should discuss the following questions with your attorney and other advisors: 1. Will you need the IRA funds during your life? If not, you may want to convert to a Roth or use the RMD's...
Estate Planning is Like… Dave’s Favorite Sweatshirt
I have a piece of clothing we simply call "my favorite sweatshirt." I think it's about 20 years old. I may have had it when I graduated from law school in 1995. If not, I got it shortly after that. (The picture to the left is from 1998.) We have a family friend who...
How much is that estate plan in the window?
Asking how much an estate plan will cost is one of the last questions you should be asking when considering an estate plan. As an estate planning attorney, I often get asked the question, "Well, how much does it cost?" But we can't answer that question without...
What You Need to Know About Caregiving By 50, 60, 70
One of the best things about Edwards Group is the fact that so many of our clients become like family, so there is a lot of give and take. They learn things through our email newsletters, along with our extensive website and free workshops, but did you know that our...
Take Action Now: Update Your Beneficiary Designations
It is vitally important that you review all your beneficiary designations (life insurance, 401(k)s, etc.) every 2 years, or sooner in cases of births, deaths, marriages, divorce, job changes or retirement. Download our beneficiary designation form here. Read on to see...
3 Reasons the Majority of People Don’t Have a Will
It's vital that you do not take the ostrich approach to estate planning. A recent survey released by Rocket Lawyer found that 51% of Americans ages 55-64 don't have wills! That's a lot of people with their head stuck in the sand hoping things will just work out when...
Are Reverse Mortgages EVER Okay?
Reverse mortgages should only be used as a last resort. You know the old saying, "If it seems to good to be true, then it probably is." Well, it seems that saying could easily apply to the reverse mortgage industry. Because of that, if you are considering one, you...
Updated Dollar Amounts in 2015
Social Security and VA pension numbers will change in 2015, with Medicaid numbers staying the same in Illinois. Here's what you can expect: VA Pensions and Social Security will increase by 1.7% in 2015 Effective December 31, 2014 (but not seen in your checks until...
10 Non-financial Planning Issues You Should Consider
Effective planning doesn't just involve money... We tend to do things a little differently around here. After years of doing planning the traditional way (and seeing ways that the process could be improved), I started my own firm. Not only is it important for me to...