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DuPage County estate planning attorneysHome health aides, private duty nurses, and other paid caregivers can make a tremendous impact on the lives of the elderly or disabled individuals in their care. From helping with medical needs to transporting patients to and from doctors’ appointments to simply providing companionship, these caregivers are a valuable source of support. For many people, these caregivers are more like family members than hired help. If you have a special, non-related caregiver who goes above and beyond to make your life better, you may be considering leaving him or her an inheritance. Special laws dictate rules regarding inheritance to non-related caregivers in Illinois, so it is important to discuss your inheritance plans with an estate planning attorney to make sure your wishes will be followed.

Illinois Law Regarding Inheritance Left to Non-Related Caregivers

Unfortunately, elder financial abuse is a major problem in Illinois and throughout the United States. Some caregivers will use deceit or psychological manipulation to influence an elderly or disabled person into changing their estate plans so the plans benefit the caregiver. Because of the prevalence of elder financial abuse, Illinois lawmakers recently amended the Illinois Probate Act of 1975 to include special rules regarding inheritances left to non-relative caregivers. According to the law, a property transfer of more than $20,000 is automatically presumed to be fraudulent during any challenges to a will or trust. This means that if you leave your caregiver property valued at more than $20,000 and someone disputes the validity of your will or trust in court, it is possible that your caregiver will not receive this inheritance.

What to Do If You Wish to Leave a Large Inheritance to a Non-Family Caregiver

You worked hard to accumulate the assets you own and you deserve to choose who those assets are passed down to upon your death. If you have decided that you would like to include your caregiver in your estate plans, speak to a lawyer. Your attorney will be able to help you transfer your property to the caregiver in a way that does not cause unnecessary legal problems in the future. Once you have made your estate plans, it may be a good idea to share these plans with your family. It is less likely that your plans will be contested if your surviving loved ones are not surprised by the contents of your will or other estate planning documents upon your death.

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Posted on in Estate Planning

Lombard estate planning attorneyFor most people, the primary goal of estate planning is make sure that their wishes are carried out regarding their assets and property upon their death. Wills, trusts, and other instruments can help you do so, but the real challenge, in many cases, is figuring out exactly what you want for the future of your estate. An estate planning attorney cannot make such decisions for you, but we can give you some things to think about in making your choices.

Include a Variety of Heirs

Too often, people make the mistake of naming their spouse as the sole beneficiary of their estate. What if he or she outlives you? What will happen your estate plan then? You may also be tempted to leave everything you own to one of your children. As you develop your will, you must remember that you are looking toward the future, and the future is always full of uncertainty. If you choose a single beneficiary and something happens to him or her, the disposition of your estate could depend on that person’s estate planning decisions instead of your own.

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inheritance, prenuptial agreement, Illinois Family Law AttorneyWhile many may view prenuptial agreements as necessary only for the rich and famous who stand to lose millions in divorce, the reality is much different. In fact, many marriage and financial experts recommend such agreements for all couples, especially those entering a second or subsequent marriage. In addition to outlining what is to happen with marital property in the event of death or divorce, can also be used to identify your own personal assets prior to marriage and establish a plan for their disposition as well.

Heirlooms and Inheritances

Consider a fairly specific, but not terribly uncommon scenario: For several generations, your family has passed down an item of both physical and sentimental value to the oldest child. This item previously belonged to your father, to his mother before him, and to her father before her. You inherited the asset prior to your marriage and long before you ever had children. Since the heirloom is an inheritance, and since it was acquired before marriage, it is not considered marital property by law. However, a prenuptial agreement can help you solidify the item’s status as personal property, retaining your ability to pass it down to your oldest child regardless of the state of your marriage.

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