In looking at your ability to work SSA will not consider the following. (1) Your inability to get work; (2) Lack of work in your local area; (3) The hiring practices of employers; (4) Technological changes in the industry in which you have worked; (5) Cyclical...
Peoria Estate Planning, Elder Law and Disability Blog
At what age should children and grandchildren receive their inheritance?
Trusts will generally provide that assets will remain in trust until the beneficiary reaches a particular age. It might 21 or maybe 22 if you think the beneficiary will have completed their education by that age. Maybe age 25? You can set whatever age you want and...
Have you funded your revocable trust?
I have persons call my office to review and change their estate planning documents. More and more persons are using revocable trusts as their primary estate planning a tool for a lot of very good reasons. What happens though when you create the trust but never get...
When should I update my Trust or Will?–lesson 1
When should I update my Trust or Will? All revocable living trusts and all wills should be reviewed every few years. So what should I be looking at if my beneficiaries are still the same? Do I still have the best person named to be my Executor or my Successor Trustee....
Divorced –Now what should I do –Estate Planning
Recently divorced? 💔 Are you concerned your ex may be in control because of a POA for health Care and/or Property. What about estate planning? A new will? A new trust? Make sure you get your paperwork changed! If you’re just now going through the motions of divorce...
What to expect during the probate process
In Illinois, when a person dies, his or her estate may need to go through a legal proceeding known as probate. The probate process can be somewhat complex and confusing. There is simply a lot to do before beneficiaries can access their inheritance. There is a great...
“I’ve chosen an executor for my will – is there anything I can do to make the process easier for them once I’m gone❓”
YES! . . First, make sure the person you’ve chosen is made fully aware that you picked them for this very important role. . Next, give them the information they’ll need to succeed. 🔹 Location of the will/trust 🔹 Contact information of your estate planning...
What Are Activities of Daily Living (ADLs)?
“My Mom lives by herself, but she can’t get herself out of bed and she needs help with that. Will Medicaid cover help with that one issue❓. Medicaid looks at six daily activities of daily living (ADLs) to decide what level of help the applicant will receive...
When Parents Refuse Help!
“Mom is becoming forgetful and I’m worried...” “Dad fell in the shower and nobody is there to help him, he’s all alone...” “I want to get help for my parents but they refuse help...” . Sound familiar❓ . If you’re concerned about your aging parent and they FLAT OUT...
Making Gifts and Medicaid Eligibility
“My accountant told me that I can gift each of my kids $15k without getting taxed. But will it hurt my chances of getting Medicaid?” . Yes, it will cause a HUGE problem! . . This is where most people get confused between tax rules and Medicaid rules. When you apply...
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The Law Office of William C. Wombacher
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Peoria, IL 61602
416 Main Street Suite 700
Peoria, IL 61602
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