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As we are all painfully aware, life happens and life changes. The matters we discussed with our doctor at age 35 are quite different from the matters we discuss with our doctor at age 75. So too it is with your estate plan. Simply put, the estate plan that you created for yourself at age 35 should be substantially different than the estate plan you need at age 75. How so, you ask? There are three phases to planning for life and three types of planning to address those phases. TODAY (planning for the maturing years) — Estate planning, asset …

If you’re a first-time buyer or you’re upgrading to a new home, your motto should be “sooner rather than later.” It is never too early to start doing your research, whether it’s on the internet or taking that late night drive through a desired area. Some internet sites offer detailed information on school districts, taxes, dining, parks, and much, much more. To surround yourself with a knowledgeable team, you also have to do your research. That team should include a Realtor, loan officer, attorney and home inspector. A Realtor can assist you in finding homes along with pricing and recent …

Ber-wyn [bur-win] — noun, a city in NE Illinois that is conveniently located within one mile of two major transportation arteries, the Eisenhower Expressway (I-290) to the north and the Stevenson Expressway (I-55) to the south. Berwyn’s northeast edge is less than a mile from Chicago’s western city limits and just minutes from the bustling Loop business and entertainment district. Berwyn has three convenient commuter rail stations, serviced by Metra along the BNSF Railway. Berwyn’s Metra stations provide tremendous customer potential and visibility for local business and offer Berwyn residents’ ready access to area jobs and attractions. Pace bus service …

Harp, which stands for the “Home affordable refinance program,” was put together by the federal government in March of 2009 to help homeowners whose property values had fallen “underwater,” in other words, below their current mortgage balance. The current program allows a customer to refinance a mortgage that is up to 125 percent of the value of the property. It also has easier credit restrictions and in some case easier income restrictions. The current program was projected to help 2 million borrowers, but to date has helped only 800,000, falling far short of expectations. The new Harp program, which is …

Illinois has adopted changes to the Power of Attorney Act, which raise the following questions: How does it fit into you senior estate planning and Elder Law needs? How does it fit into your asset protection plan for long-term care? Introduction In 2011, the Illinois legislature created major changes to the Power of Attorney Act. The changes took effect July 1, 2011. There are two types of powers of attorney, healthcare and property. Powers of attorney for healthcare and powers of attorney for property are written instructions that enable you to transfer decision-making authority from you (the principal) to a …

Thinking about buying a home can be a little intimidating, this being one of the largest purchases of your life. Looking at the big picture can help reduce that sense of intimidation. The first thing you have to do is make a list of “Must Haves” and “Plus Haves.” Your “Must Haves” might include three bedrooms, 1 bathroom, a fenced yard, etc., and your “Plus Haves” might include an attached garage, a finished basement or other things that you might be able to live without. The most important factor in your decision will be location. This often drives your search …

This is an election year, and a hot button political issue for both parties has been the status of illegal immigrants. This is certainly not the first time this issue has been a point of debate among the politicians. Our immigrant ancestors were also the subject of debate many decades ago! After World War I, many refugees left war-torn Europe for a better life in America. They were unable to come here during the war and now they were determined to get away from their destroyed towns and start over. After many came here, the government, bowing to political pressure, …

Hi, my name is Renato (Ron) Ricchio and I am the new mortgage columnist for Fra Noi. I am the one of five sons of Francesco and Annunziata Ricchio, Calabrese immigrants who came to the United States in 1963. My parents have been a tremendous inspiration and role models for me and my brothers. The righteousness and integrity that they lived by and taught us are priceless gifts that shaped our lives. I am a 1991 De Paul graduate with a B.S. in finance. Finance has always amazed me, and I’ve wanted always to be involved in some capacity. I …

Like many Fra Noi readers, my parents came from Italy (Rende, Calabria). When I was growing up, I was surrounded by parents, grandparents, and many uncles and aunts. This is a privilege that few cultures cherish as much as the Italian Americans. Because respect for elders was something that was impressed upon us at such a young age, it was not very difficult to feel responsibility for the seniors in our family as we all grew older. I suspect that has a great deal to do with why I find myself in the practice of elder law today, or as …

So I’m sitting in beautiful downtown Berwyn enjoying an espresso when my phone rings. I see it’s Fra Noi editor Paul Basile, so I pick up the phone thinking my Giovanni the Talking Teddy Bear order is ready. Boy, was I wrong. Paul tells me he has an idea for a column about Italian Americans living in the southwest suburbs. I say, “That’s great, Paul. Are you talking Naperville? Lisle?” In a bad Svengoolie accent, he says, “No, Burr-vynnn.” I try to explain that Berwyn isn’t “South Side,” unless we’re talking baseball. And once I straighten him out geographically and …