The Ritchie Law Office, Ltd. had a busy week during the national Money Smart Week campaign for financial literacy. The annual event was held from April 22-29, 2017, and Chad gave three free lectures as a part of the Money Smart Week activities in Bloomington-Normal. This is the third consecutive year that Chad has participated.
On Tuesday, April 25, 2017, Chad delivered a presentation titled "Planning for Incapacity: The Power of Attorney and Revocable Trust." The seminar was held at the U of I Extension Office, 1615 Commerce Pkwy, in Bloomington, Ill. Chad explained how a Power of Attorney document and a Revocable Trust can be used to name agents to act on behalf of a person facing mental incapacity. Questions from the audience covered a number of scenarios where protection of assets could be achieved with related strategies.
The next day, April 26, 2017, Chad gave a seminar called "Illinois Probate: What is Probate and the Strategies to Avoid It." The seminar was held at the ARC Activity and Recreation Center Auditorium, 600 E. Willow St. in Normal, Ill. Approximately 45 people filled the auditorium for the one hour primer on Illinois probate.
On Thursday, April 28, 2017, Chad presented "Intro to the Revocable Living Trust: Is a Trust Right for Your Estate Plan?" at Heartland Community College in their Workforce Development Center. A Revocable Living Trust is a very powerful estate planning tool that can help estates avoid probate, save on taxes, provide creditor protection for heirs and ensure estate plans are followed after donors pass away. Chad was joined by Jennifer Doran, CFP, a Vice President and Senior Trust Officer at First State Bank of Bloomington, who sharered information about how Trusts are administered by their executors.
Money Smart Week is a national financial literacy endeavor begun by the Federal Reserve Bank of Chicago in 2002. The program provides guidance on how to better manage your personal finances in a challenging economic climate by sharing resources and knowledge.
This article is a service of Attorney Chad A. Ritchie and the Ritchie Law Office, Ltd.
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