Planning for "What If...?" _Tools for Protecting Your Family and Managing Your Assets

The "tools" consist of a set of fact sheets that describe different tools an individual might use to ensure that they are prepared for the unexpected and that their assets will be handled the way they wish. The tools may be helpful in the event of death, incapacity, remarriage, or other situations. Topics covered include:

• Emergency Fund

• Life Insurance

• Social Security

• Medicaid

• Long-term Care Insurance

• Forms of Property Ownership

• Power of Attorney

• Trusts

• Wills

Each fact sheets begins with a brief description of the tool, lists terms and definitions the user will need to understand, mentions issues and limitations associated with that planning tool, suggests questions to ask yourself that will help you in determining whether or how to use that tool, and concludes with a list of additional resources.

The series of fact sheets was written by Karen M. Chan, CFP, and Extension Educator of Consumer and Family Economics at University of Illinois Extension. Call McLean County Extension office, 309-663-8306 for the series.