Newsletter

Coulson Elder Law is pleased to provide you with important, timely information on the considerations of Estate planning, Asset protection, Special Needs Planning and more.

After the death of a spouse, or even after a divorce, it's important to look at and update, if necessary, any beneficiary designations you may have. Too often we see people lulled into a false sense of security by thinking their Will, which may very well cover what happens when each spouse dies first or second, will take care of everything. While this may be true for things that are ...

A Living Trust is an important estate planning document that offers many advantages, including keeping your estate out of probate after you die. However, does a Living Trust protect your assets from long-term care costs? This question gets asked quite frequently and the answer is simply, no it does not. In this Elder Law Minute, Wes Coulson, Illinois Elder Law attorney, discusses Living Trusts, their advantages and why having an asset preservation plan ...

Something that is often overlooked, when going through a divorce, is seeking an estate planning attorney to make the appropriate changes to your estate plan. Until your divorce is final you are still married, which could lead to a multitude of assumptions by the law if something happened to you. Ask yourself this question: Would you want the person who you are parting ways with to be in charge of all ...

There are various reasons a person may choose to disinherit a child from their estate. Maybe they no longer have an association with the child. Or, maybe the child doesn't need an inheritance and, maybe, another child does. Choosing to disinherit a child is a personal choice that many families may, at some point, face. So, how do you go about doing it? The common misperception is that you can effectively disinherit a ...

We live in a digital age. Our bank accounts; investment accounts; credit card accounts; accounts with Amazon, Joss & Main and all the other online stores, have digital access and passwords. And, if you haven’t planned for your digital assets and your passwords, there’s a hole in your estate plan. Don’t assume that unless it says so, somebody with power of attorney can get access to those things. Don’t assume that ...

Making charitable gifts or bequests to religious or other non-profit organizations is a generous gesture and an excellent way of making a difference. But, there can be a right way to do it and a not so right way to do it, in terms of getting the most of your donation while still preserving your assets. In this Estate Planning Minute, Wes Coulson, Illinois Elder Law attorney, discusses another common estate planning mistake and the ...