Hedeker Law

When you create your initial estate plan the focus will likely be on the distribution of your estate assets in the event of your unexpected death. As you mature, and your assets grow, you will likely want to add additional components to your estate plan to reflect the changes in your life and priorities. For example, if you now have a moderate to large estate, you need to start thinking about protecting your estate assets from a variety of potential threats. After all, if you fail to protect your estate assets during your lifetime there won’t be any left to [Read more…]

Like most people, you may prefer not to think about the likelihood of needing nursing home care for you, or a spouse, at some point down the road. The reality, however, is that the longer you live the higher the odds are that you will eventually require nursing home care. If the time comes that you (or a spouse) do need the type of care only found in a nursing home, are you prepared for nursing home costs? Because if you fail to plan ahead, it could put your nest egg at risk if you end up turning to Medicaid [Read more…]

Were you recently informed that you are the Executor of the estate of a recently deceased loved one? If so, and you have never served as an Executor before, you are likely wondering where to start. Navigating the Illinois probate process can be complicated, particularly when you are also grieving the loss of a loved one. Although the probate process is never exactly the same for any two estates, there are some common steps in the process. Ideally, you should retain the assistance of an experienced Illinois estate planning attorney to help you probate the estate; however, it may also [Read more…]

Owning a small business is a dream come true for many people. If you are one of those people, you have a number of important decisions to make before your dream of owning a business can be realized. One of the most important of those decisions is which type of legal entity to choose for your business. There are three primary legal entities – sole proprietorship, partnership, and corporation – from which you may choose; however, there are also a number of hybrids as well. One of the more popular hybrids people choose for the legal structure of their company [Read more…]

Sadly, the problem of elder abuse is not a new problem in the United States. What is new, however, are the methods people are trying to use to catch the abusers. If you have a parent, or other elderly loved one, that is in long-term care or being cared for by in-home health aids, you probably worry on a consistent basis about the level of care and compassion your loved one is receiving. You undoubtedly stop by as frequently as possible to try and ensure that your loved one is being properly cared for; however, you can’t be there 24 [Read more…]

Like many people, you may have made it through the majority of your working years without ever needing to turn to Medicaid for help with your healthcare expenses because you have been fortunate enough to be covered by employer sponsored or private health insurance coverage. As such, you may know nothing more than the basics about the Medicaid program. More importantly, you may not know why you would ever need Medicaid, much less need a Medicaid lawyer. This, however, is one of those situations where what you do not know could hurt you because there is a very good chance [Read more…]

Ideally, you should start saving for your retirement as soon as you begin your first “real” job. As you get closer to retirement age, you will undoubtedly start looking forward to leaving the stress and pressure of the work world behind you. You may even want to speed up the clock so you can reach retirement age sooner. Although we typically refer to “retirement age” as age 65, the truth is that the age at which you decide to retire is not set in stone.  If you are tired of the “rat race,” and are ready to get out, you [Read more…]

You have probably heard from well-meaning friends and family members about the importance of retirement planning. Knowing how important it is to start planning for your retirement, isn’t the same as knowing when you need to start planning. Is there are ideal time in your life when retirement planning should begin? When is it too late to start planning? For your retirement planning to be effective, you need to know when and how to start planning. Why Is Retirement Planning So Important? Thanks to advances in science and medicine over the last century, the average American now lives almost twice [Read more…]

Once upon a time, the average person could depend Social Security and a pension from their employer to see them comfortably through their retirement years. Those years are long gone. With the future of the Social Security system in question, and monthly payments that cannot come close to covering living expenses, today’s workers should not depend on Social Security exclusively to fund their retirement. Add to that the fact that very few employers offer pension plans to their employees these days and it should be no surprise that more and more people are choosing to start an Individual Retirement Account [Read more…]

If you are at, or near, retirement age, and you have never before needed to qualify for Medicaid benefits, you may be wondering why people are always talking about “Medicaid planning?” Why would you need to include Medicaid planning in your overall estate plan? Along the same lines, why would you ever need a Medicaid attorney if you have never before been a Medicaid recipient? These questions are understandable if you know very little about Medicaid for the aged and why qualifying for Medicaid may be both necessary, and difficult, at some point in your near future. What Is Medicaid? [Read more…]