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630-377-3241 455 Dunham Road, Suite 200, St. Charles, IL 60174
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April 19, 2017

Aging Drivers and the Law

For better or for worse, our current culture is very car-dependant; in many places, cars are the only convenient link to the outside world. Unfortunately, as people age, driving can become more difficult and more dangerous. The elderly drive less,…

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March 8, 2017

Things to Remember at Tax Time

      Tax day, which is April 18th in 2017, is approaching and it is time to begin crossing T's and dotting I's in preparation for paying taxes. As tax time draws near, you want to make sure you file…

Court Approves Use of Short-Term Annuities for Medicaid Planning

A lesson learned in Pennsylvania declares immediate annuities must still meet a number of stringent requirements to be accepted as legitimate by Medicaid authorities. Families considering them should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group. This is an FYI for you to think about what long term care planning can put in place for you before you transfer assets to afford it. Call us today (630) 377-3241

Incentives to Keep Working While You Collect Social Security

In general, it is better to wait as long as possible before taking Social Security benefits, but sometimes it is necessary to start taking benefits early. However, if you are able to continue working while receiving benefits, you may be able to increase your overall benefit. For more information on how work affects Social Security call Strohschein Law Group. We help clients everyday plan for the future. (630) 377-3241

Woman’s Efforts to Change Will Without Professional Assistance Backfire

Just as making a will without the help of a qualified attorney can be dangerous, trying to change an existing will on your own can fail as well. A recent court decision in Minnesota serves as a cautionary reminder to anyone thinking of altering their estate plan on their own. Strohschein Law Group is here to protect what matters and just a phone call away to save you money and potential heart ache.

Incentive Trusts: Ensuring That an Inheritance Will Be Well Spent

Many parents or grandparents with sizable amounts of money to pass on to their heirs are apprehensive about the effect it may have on their children or grandchildren. In some instances, they fear that the recipients will misspend the funds on drugs, fancy cars or failing businesses. In other cases, the fear is simply that their children will lose their drive to achieve and overcome barriers that may present themselves if there's no financial necessity to do so. But some parents set up what are known as “incentive trusts,” which get very specific in their instructions to trustees to ensure that the trust funds support what the trust's creators view as positive behavior and discourage unproductive activities. Read more...
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September 28, 2015

Who Will Inherit Whitney Houston’s Fortune Following Bobbi Kristina’s Death — and What Are the Lessons?

As it turned out, Houston may have given Bobbi Kristina more money than she could cope with at such a young age. The trustees of the trust – Bobbi’s aunt and grandmother – certainly thought so because they filed court papers to change the will to delay the windfall to Bobbi Kristina, but the trustees later withdrew the request, no doubt realizing that courts invariably follow the terms of a will. But we’ve seen worse. At least Houston did have a plan that didn’t give everything to Bobbi, even though $2 million at age 21 was probably too much. The morals of the story are to update your estate plan when life changes happen and to think long and hard about what effect inherited money will have on a child and on those close to her.
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September 21, 2015

Know Your Options Before Signing Up for Medicare

As you get ready to turn 65, you may be inundated with information about Medicare. All this information is confusing, but it is important to do your research before choosing your plan. If you aren’t fully informed, you could end up making mistakes that will cost you down the road, particularly when it comes to how "Medicare Advantage" and "Medigap" plans interact.
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