Why Estate Planning Isn’t Just for Retirement—It’s for Right Now

Too many high-earning professionals and business owners think of estate planning as something to do “someday”—after retirement, after the kids are grown, after things slow down. But life doesn’t always wait for the perfect moment. Whether you’re running a practice, growing a business, or building generational wealth, the decisions you make today will shape what happens if life takes an unexpected turn. Estate planning isn’t about preparing for the end—it’s about protecting what you’ve built while you’re still here to enjoy it.

Let me tell you a story about one of my clients—let’s call her Lisa. She’s a 47-year-old pediatrician with a thriving practice, two kids in middle school, and a summer home in Wisconsin. On paper, she’s got everything in place. But when her business partner unexpectedly passed away without a clear succession plan, things unraveled fast.

That’s when Lisa called me and said, “I know I should’ve done this five years ago. Can you help me not make the same mistake?”

And that’s the thing—most high-net-worth individuals and professionals like Lisa are so busy building wealth, they forget to protect it.

The Tax Talk No One Wants to Have

Estate taxes aren’t exactly dinner-table conversation, but they should be. With the federal estate tax exemption at $13.99 million (and Illinois’ exemption only $4 million), many families are shocked to learn they’ll owe taxes after a loved one passes.

I worked with a couple—both dentists—who assumed their estate wasn’t “big enough” to worry. But between their practice, retirement accounts, life insurance, and real estate, they were well above the Illinois threshold. We used an irrevocable life insurance trust (ILIT) to shield some assets—and saved their heirs hundreds of thousands of dollars. But this may not be the right strategy for everyone, so it’s always best to consult with an estate planning attorney in your area. Laws may differ by state.

Business Succession: The Conversation Most Owners Avoid

If you own a business, what happens if you get hit by the proverbial bus?

A third-generation funeral home director delayed succession planning because it felt “too final.” But after a minor stroke, he realized his business had no legal safety net. We built a buy-sell agreement, trained his daughter as a successor, and set up a solid estate structure so his legacy—and his family income—were protected.

Strategic Gifting: Give While You’re Living

One of my retired attorney clients wanted to help his grandkids pay for college. Instead of making a lump-sum gift, we created a tax-smart plan using the $19,000 annual gift exclusion.

He got to see the joy in their faces—and reduce his taxable estate in the process. “I’d rather help them now while I’m still here to hear their thank-yous,” he told me.

Leaving a Legacy, Not Just Money

For some clients, giving back is just as important as giving to their family.

A Lake County couple with no kids wanted to support causes close to their hearts—like animal shelters and medical research. With a charitable remainder trust (CRT), we created a plan that provided them income during their lifetime, and then gave to the nonprofits they love. Their values will live on, long after they’re gone.

Ready to Plan for the Future?

If you’re a high-net-worth individual or licensed professional in Libertyville, your estate plan isn’t just about money—it’s about legacy, control, and peace of mind. You’ve worked hard for what you have. Let’s make sure it’s protected.

Let’s start the conversation.