At Quad City Life Planning, we understand that planning for the future can feel overwhelming. That’s why we’ve put together answers to the most common questions clients in Moline, IL, ask us about life planning, estate planning, probate, and elder law. If you don’t see your question here, feel free to reach out directly—we’re here to help. Call us today at (309) 764-2577 to schedule your consultation.
General Life Planning Questions
What is the difference between life planning and estate planning?
Estate planning traditionally focused on “death planning,” or what happens to your possessions after you pass. Life planning is broader—it prepares you for life events such as disability, long-term care, and legacy planning, in addition to estate planning after death.
When should I start life planning?
It’s never too early to start. Young adults can benefit from powers of attorney, families can plan for guardianship, and retirees can protect assets and plan their legacy. Life planning adapts to your stage of life.
How often should I update my plan?
We recommend reviewing your plan every few years, or whenever you experience a major life change—marriage, children, retirement, or a new property purchase. Our Home Run Club membership ensures your plan is kept up to date.
Wills, Trusts, and Estate Plans
Do I need a will if I already have a trust?
Yes. Even with a trust, a will can serve as a safety net to handle assets not included in the trust. Together, they provide comprehensive coverage.
What’s the difference between a will and a trust?
A will outlines your wishes and must go through probate, while a trust allows assets to be managed and distributed privately, often without probate. Trusts also offer greater flexibility and protection.
What’s included in a complete estate plan?
A full estate plan typically includes a will, one or more trusts, powers of attorney, a living will, and documents for healthcare directives. We customize every plan based on your needs.
Powers of Attorney and Disability Planning
Why do I need a power of attorney?
A power of attorney ensures someone you trust can make financial or healthcare decisions if you are unable to. Without one, your family may need to seek guardianship through the courts, which can be stressful and time-consuming.
Who should I choose as my power of attorney?
Ideally, someone you trust completely—often a spouse, adult child, or close family member. We’ll guide you in choosing someone reliable and explain the responsibilities involved.
How does disability planning help me?
Disability planning ensures your medical care and finances are handled according to your wishes if you become incapacitated. It provides peace of mind for both you and your family.
Guardianships and Conservatorships
What is the difference between a guardianship and a conservatorship?
A guardianship typically grants authority to make personal and healthcare decisions for someone, while a conservatorship usually gives authority over financial matters. The exact definitions can vary by state, but both provide legal authority to care for someone unable to manage on their own.
When is a guardianship or conservatorship needed?
These are often necessary when an adult becomes unable to care for themselves due to disability, illness, or aging, and no prior life plan was in place.
Do you provide ongoing support after guardianship is established?
Yes. We’re here to guide families even after guardianship or conservatorship is granted, answering questions and helping ensure responsibilities are managed correctly.
Probate and Trust Administration
What is probate, and will my family need to go through it?
Probate is the legal process of validating a will, paying debts, and distributing assets. Whether your estate goes through probate depends on how your assets are structured. Proper life planning can minimize or even avoid probate.
How does trust administration work?
Trust administration is the process of carrying out the instructions in a trust. We assist trustees in managing assets, handling paperwork, and ensuring distributions are made properly and legally.
How can you help make probate less stressful?
We guide families through each step, handle legal documents, and provide support during what is often an emotional time. Our goal is to make the process smooth and efficient.
Elder Law and Long-Term Care
What does elder law include?
Elder law covers Medicaid planning, asset protection, and preparing for long-term care. It ensures seniors can receive the care they need without losing everything they’ve worked for.
How does Medicaid planning work?
We help structure your finances and assets in a way that may allow you to qualify for Medicaid assistance while still protecting your estate. Every case is unique, and we customize solutions for your situation.
How can elder law services protect my family?
By planning early, you can preserve assets, reduce financial stress, and ensure your loved ones receive the support and care they deserve.
Still have questions? Call (309) 764-2577 for personalized answers.