Tuesday, September 11, 2012

Why Estate Planning Matters Now

We can look back at our journey to multigenerational living and working, as we have been written about the last few months.  It’s easier with hindsight… 

First, we thought Priscilla and her husband should move to a small lot near Patricia’s subdivision house, so future grandchildren could walk to Grammy and Grandpa’s easily, and Patricia’s family could help with home maintenance and other pesky chores the retired are too busy to do easily.  That didn’t work out due to high costs and our preference for open space and Priscilla’s home. 

Then we thought Patricia could move to Minooka and easily stop by at Priscilla’s on the way to and from a new office in Plainfield every day.  We bought the Minooka lot, but we could not find a suitable Plainfield office for an affordable price. 

Last, we decided to build an addition onto Priscilla’s house for both office and Patricia’s family.  And we did do that.  But it was not the end of planning.  Things had to work ‘on the ground’ daily and also so that after the death of the first generation, the next generation will have a way forward without losing our home and possibly our family’s peace at the same time we lose the first generation. 

Our situation illustrates the reason why future planning for families multi-generationally (what is often called estate planning) is so important.  Life goes on, and we care about how it goes, whether we are the ones who leave or those who remain. 

Wills and trusts set up planning that matters to all generations.  To consider your own family’s plans, please call our office at (815) 436-1996 for an appointment.  ©2012 Gruber Law Office, Ltd.


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