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Grant Park Legal Advisors, LLC Blog

Tuesday, November 13, 2018

“Think” About Estate Planning

“You better think (think)
Think about what you're trying to do to me
Think (think, think)
Let your mind go, let yourself be free”

When the late, great Aretha Franklin penned this power ballad of the 1960s she made sure she held the right to collect royalties from it. She also demanded to be paid in cash before many performances. Her business savvy helped her amass a fortune worth an estimated $80 million.

But she made one big mistake that is going to cost her children a lot of money — she thought about making an estate plan, but never followed through.

People who wonder how this could have happen point out that she knew she was terminally ill. They also marvel at her fortune and her hard work and talent. Surely she of all people should have had the motivation to make an estate plan.

But it is not that simple. Contemplating your own mortality is not easy, no matter how smart you are, how sick you are, or how wealthy you are. We understand this, and that is why our firm goes the extra mile to make the estate planning process as quick and simple as possible for our clients.

We start by discussing our clients goals. Some people are motivated to provide a lasting legacy for their children and grandchildren. Others want to avoid paying one cent more to Uncle Sam than he rightfully deserves. And still others just want to minimize the bureaucratic hoops their loved ones have to jump through after they are gone. No matter what has motivated a client to get an estate plan, we take their ideas and run with them. We know it is difficult to even get up the courage to make an appointment and walk through our doors, so we try to anticipate our clients’ needs and make a custom estate plan that is simple, easy to understand, and custom designed to suit specific needs.

We also emphasize that estate planning is not just about planning for one’s death. A good plan will also include an advance medical directive and a power of attorney authorization. These documents protect our clients while they are still alive by giving the power to make decisions about their healthcare and finances to someone they trust should they become incapacitated.

Thinking about estate planning is not fun, but it is the best way to “Let your mind go, let yourself be free.”

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307 N. Michigan Avenue, Suite 820, Chicago, IL 60601
| Phone: 312-392-0310
18700 S. Wolf Road, 250, Mokena, IL 60448
| Phone: 815-412-9377

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