|
Let us handle the hard stuff.
ELDER LAW • ESTATE PLANNING • WILLS & TRUSTS • GUARDIANSHIP & PROBATE LITIGATION
| |
|
Fall Colors and Busy Bees
Welcome to our fall newsletter. It seems that fall is such a busy time for everyone. That's when we say goodbye to a warm summer (and stop complaining about how hot it is) and start working on all the things that we've not quite tackled on our to-do lists. Just like the 400+ species of bees in Northern Illinois, we are (metaphorically) preparing for winter, adding to our honey reserves, and protecting our hives from poor weather and bad things.
At Generation Law, we've also been busy helping our clients and others, by raising money for Alzheimer's while running way too far, helping one of our clients to rename a college to help train future pharmacists, educating fellow lawyers, and going out on the speaking circuit to get out the word on families' end-of-life choices, as well as changes to power of attorney laws.
Warm regards,
| |
SEPTEMBER & OCTOBER'S NEWS TO KNOW | | |
What is the Probate Process and How Does it Work? | |
Many people are afraid of the mysterious Probate process. Here we will describe the nuts and bolts on how the process actually works in practice.
Generally, the probate process only applies to “probate” assets. A probate asset is any asset that is not held in joint tenancy with someone else, in a trust or have a beneficiary or pay on death/transfer on death designation. Typically, probate assets are an asset that someone holds in their own name and no on else’s name.
| |  |
Ensuring Your Child's Well-being: The Importance of Powers of Attorney After 18 | |
As your children and grandchildren grow and get ready to go off to college (or return to college), a significant shift occurs in their legal status. They become adults in the eyes of the law, gaining the autonomy to make their own decisions and manage their own affairs. As we go through changes in life, we need to be aware of potential medical challenges and decision-making in case of unforeseen circumstances.
| | | |
|
|
This voluntary and free government plan can help you manage prescription costs by spreading them out over the remaining calendar year. It can be especially beneficial if you typically have your highest drug cost at the beginning of the year.
Once signed up, you do not pay for your prescriptions at the pharmacy, instead you'll receive a monthly bill for your prescriptions from your health plan.
Want to learn more? Watch the video or click here for more information.
| | |
|
UIC Pharmacy College Renamed in Honor of Generous Retzky Family Donation
Herbert and Carol Retzky’s $36 million gift to the UIC College of Pharmacy has led to the college's renaming and a significant boost in resources. This generous donation will fund merit-based scholarships and career development initiatives for pharmacy students for generations to come. This College trains one in three pharmacists in Illinois. It is the #1 Pharmacy program in Illinois and #15 in the Nation. The Retzkys were longtime supporters of the college and had previously donated millions to the institution now named the Herbert M. and Carol H. Retzky College of Pharmacy.
The Retzkys were clients of Generation Law, and Ben's expertise and guidance were instrumental in ensuring that the Retzkys' wishes were carried out and that their legacy would have a lasting impact within the field of pharmacy.
Read more about the Retzkys and their donation here.
|
|
|
Ben Neiburger is Featured Guest Speaker at "Wills, Trusts, and More"
On Wednesday, September 11th, Bank Financial hosted an estate planning seminar featuring guest speaker Ben Neiburger. The event focused on the importance of creating a comprehensive estate plan to safeguard your family's financial future and to ensure your personal wishes are fulfilled.
Ben provided valuable insights into the benefits of estate planning, common mistakes people make, and strategies to avoid probate. Attendees learned about the crucial role of wills, trusts, and life insurance in estate planning. Additionally, the seminar addressed strategies for minimizing taxes and planning for incapacity, including healthcare directives.
| |
|
Melissa Johnson in Leadership at the DCBA
Melissa was appointed Vice Chair of the DuPage County Bar Association's Elder Law Section. The DuPage County Bar Association (DCBA) serves DuPage County attorneys, judges, and citizens in providing legal education, business development, and networking opportunities designed to enhance and benefit its membership and community.
The DCBA has 21 subject matter "sections", one of which is in Elder Law. The Elder Law Section educates members on related current issues and relevant topics over its six to eight meetings during the year. One of the duties of the Vice Chair is to help arrange speakers and design topics for the meeting.
| |
|
DCBA Golf Outing
On August 29, 2024, Dirk Bromberek and Melissa Johnson attended the DuPage County Bar Association Golf event at the Cantigny Golf Club along with 86 other golfing attorneys. While scoring better than their peers, Melissa and Dirk networked with other attorneys and judges increasing Generation Law's profile in the community.
| |
|
2nd Annual Litigationpalooza
Generation Law is hosting the 2nd annual Litigationpalooza on October 18, 2024, a National Academy of Elder Law Attorneys (NAELA) Illinois chapter event aimed at getting guardianship, trust and probate litigators together to talk shop and solve problems.
This program is quite unique in legal circles since it helps attorneys share practical knowledge with each other and network in an informal setting - instead of on opposite sides of court cases, giving speeches to each other. Building on the success of last year's programs, more than 40 attorneys will be attending this year.
| |
|
Legal Considerations in End-of-Life Planning
On September 26, 2024, Ben Neiburger gave a presentation to the Oak Park/Western Suburbs Action Team of the Illinois End-of-Life Options Coalition on the use of powers of attorney and advanced directives at the end of life. Ben discussed current Medical Aid in Dying legislation in Illinois (which did not pass this year) and how that intersects with the use of healthcare powers of attorney and living wills at end of life.
The handout from the presentation can be found here.
| |
|
Ben Neiburger Heads Panel on the New Power of Attorney Act
On October 2, 2024, Ben Neiburger was on a panel for the DuPage County Estate Planning Council to discuss the power of attorney legislation, that Ben wrote and which the Illinois Legislature passed this year. The legislation will be effective on January 1, 2025 and will make it easier to for financial institutions to accept powers of attorney for disabled individuals.
Ben appeared with four attorneys from the legal department of CIBC Bank USA to explain the practical application of this legislation to the 75 attending lawyers, bankers, financial planners, and other related professionals in attendance.
| |
|
Get Your College Kid’s POA Done
If you have a child heading off to college, make sure to put “power of attorney” on your to-do list. That way, if they have a medical emergency, you can act as their agent and protect their medical and financial well-being – and we’re here to make it simple.
Generation Law charges a flat fee of $300 per set of POAs per child, and we’ll have everything prepped for you to sign in person or remotely. Trust us: It’s way easier than trying to track down extra-long twin sheets.
Give us a call at 630-783-1766 or drop us an email to Info@GenerationLaw.com to get started.
| |
|
Legal Questions?
Not sure where to start? Have questions for us?
We can help!
Call 630-782-1766 for questions, or visit our website to submit your questions online. We’ll publish the most commonly asked questions (and provide answers) in a future newsletter.
| |
Get social with us
for all the caregiver essentials: planning tips, checklists and a few laughs
| |
IMPORTANT DISCLAIMER: This email newsletter does not create an attorney-client relationship. It does not contain legal advice for you or anyone else (so don’t act on anything we say unless you speak with an attorney first). It does contain facts and stories we think you might be interested in. We tried to keep this short because we really like you.
|
| | | |
