Estate Planning Is About Ensuring Quality of Life, Not Passing Away

Palos Heights, IL - Spring and summer always seem like the perfect time to get organized. We clean out cabinets, recycle things we don’t use, and put everything back in a neat and orderly fashion so we can find necessary items quickly and easily. Being organized saves time, money and aggravation.

Stephen Sutera, attorney at law and Of Counsel at Huck Bouma, P.C., is a huge fan of organization, especially when it comes to planning for the future. Sutera focuses his practice in estate planning , estate administration and elder law and is a current Board member of Pathlights in Palos Heights. When a client asks about creating an estate plan, Sutera combines organizational tools into the plan.

“Estate planning,” he says, “is not about passing away. It’s about living your life the way you want to, getting the quality of care you want in a crisis and having your wishes respected. Being organized, knowing where to find your stuff, picking the right people to be there for you are all really helpful in making your planning work.”

On June 8^th, Pathlights is presenting “Estate Planning Workshop” at the Tinley Park Public Library with Michael J. Maslanka, attorney at law, with Sacks, Goreczny, Maslanka & Costello, P.C. On August 14^th, Sutera will present an Estate Planning Workshop at the Homewood Public Library. These educational events will help participants understand the role estate planning has in ensuring quality of life. Pathlights helps older adults in the South and Southwest suburbs, guiding them along the path of aging with resources, services, support and education.

Sutera says that perhaps the most important part of estate planning is planning for medical decisions. “It’s always best to be in the position of planning for yourself. We try to teach clients how to pick the right individuals to make medical decisions, give clients the tools to document their medical history and then make sure that the information is easily accessible – all while you’re still capable of making these decisions yourself.”

“The worst case scenario happens when someone is in a crisis and they’ve done no planning. It might be too late to do certain planning because they no longer have the capacity. We want people to never be in a position of crisis planning.”

At the bare minimum, Sutera says naming a Power of Attorney (POA) for Healthcare is vital. That person should thoroughly understand and be able to truly respect the client’s wishes and execute them as the client desires, even when the client is not capable of communicating in the moment. “Make sure it’s HIPAA compliant so the POA has access to medical records. A living will helps clarify what you want to happen in case of a terminal illness or catastrophic injury. This means you don’t have to worry about, for instance, one child saying, “Mom told me she would want this” and another child saying, “Well, she told me she would never want that.” It’s a lot better if somebody can pull out a piece of paper to say, “Here is exactly what Mom wanted.”

Beyond medical decisions, Sutera says that no matter how many or how few assets people have, it’s important to consider financial decisions and appoint a trusted person as the Power of Attorney for Property. “We don’t recommend putting people on all your accounts while you are still capable because, while that does give them immediate access to your money in a crisis, it also gives them immediate access to your money at any time.” Taking it all would be perfectly legal.

Creating a trust and then funding the trust with any and all assets including bank accounts, property, investment accounts, Certificates of Deposit, retirement accounts, 401Ks and IRAs can be a much better solution. Money can be distributed carefully, to provide necessary care if needed. It also eliminates family discord later. “I have seen multiple cases, especially with blended families, where trusts and planning become very important. When one spouse passes, proper planning takes care of the surviving spouse and ensures that one set of kids doesn’t get cut out. The assets are distributed according to the desires of both spouses after both pass away. It’s got to be done properly and it begins with asking lots of questions.”

Nearly 7 out of 10 Americans die intestate, without a will or other legal documents. This leaves family members to figure out – very quickly – if Mom wanted to be buried or cremated and where those remains should rest. Dying intestate also leaves a probate court to determine who gets what. “Sometimes people have a special situation in their lives, such as a disabled child who will need extra care or a child with a financial immaturity problem. Other people have kids who are doing just fine and say, “I’d like it to go to my kids, but also verify that my assets eventually are distributed to my grandkids.” Sometimes, they want to give their kids divorce protection.”

Sutera has presented at Pathlights’ estate planning seminars in the past. “Each one I’ve done, there’s always been a lot of questions. That’s important because it means they’ve been listening. While we talk about a lot of the documents I’ve mentioned, I also stress organization. Putting all these documents in one easily accessible folder or binder – and telling your family members where it is – makes understanding and fulfilling your desires a lot easier. I recommend including your Power of Attorneys information, medical history, banking information, your financial planner, your insurance agent for home and vehicle, your accountant and tax information, credit card information, any life insurance policies and your will and trust documents. These documents are important in any kind of crisis and should be reviewed every three to five years.”

Sutera, who has been involved with Pathlights since 2014 as a board member, treasurer and chair, says, “Many people in this region don’t realize all Pathlights does – programs from Adult Protective Services to Home Delivered Meals. They assist people with evaluating the best Medicare supplements and drug programs for their situation, saving constituents thousands of dollars. They help lower utility bills. When someone is released from the hospital and needs an assisted living situation, Pathlights helps with that transition. There are referrals for housing and assistance for housing.”

Sutera says, “The takeaway from these seminars should be planning – whether it’s healthcare planning or planning your finances, the keyword is planning. Don’t leave yourself and your family in a situation where nothing has been done.”

To register for the June 8^th Estate Planning Workshop, visit pathlights.org/events or call the Tinley Park Library at 708-532-0160. To register for the August 14^th Estate Planning Workshop, visit pathlights.org/events or call the Homewood Public Library at 708-798-0121.

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