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Downers Grove Estate Planning Attorney

DuPage County estate planning lawyer for trusts and power of attorney

Lawyers for Wills, Trusts, and Power of Attorney in DuPage County

For any family, it is important to plan for the future. You want to make sure your children, family members, or other loved ones will be provided for, no matter what happens. However, you will also want to make sure your wishes are followed regarding the care you receive throughout your life and how you want your affairs to be handled after you have passed. To address these issues, you need a comprehensive estate plan that will meet your family's needs throughout your lifetime and beyond.

The lawyers of SBK Law Group can answer your questions and help you understand your options as you make plans for the future. We have over 25 years of combined legal experience, and we can make sure your estate plan addresses your unique concerns and offers you the security you need. We help plan for the "what ifs" in life. We take a holistic approach to estate planning which is also known as "Legacy Planning."

Elements of an Estate Plan

There are multiple types of documents and agreements that you can create to address your ongoing needs, your plans for the future, and your wishes for what should happen after your death. Your estate plan may include:

  • Wills - Your last will and testament will provide instructions for how your affairs should be handled after you have passed on. Your will can address issues such as how you would like your assets to be distributed to your heirs and who you would like to serve as the guardian of your minor children.
  • Trusts - These financial instruments allow you to protect your assets by placing them in the control of a trustee and providing instructions for how they should be distributed to your beneficiaries. A living trust may be used to provide for your own needs while you are alive, or a third-party special needs trust can provide assistance to disabled loved ones without affecting their ability to receive public benefits.
  • Powers of attorney - You may want to address how decisions will be made for you if you become incapacitated. A power of attorney for healthcare or finances will allow you to name an agent who can make decisions on your behalf, and you can specify the types of decisions they are allowed to make while providing instructions for how your medical care and financial affairs should be handled.

In addition to helping you understand how to use these tools to create a comprehensive estate plan, our attorneys can also assist in administering the estate of a loved one who has passed on. We can help a person named as the executor of an estate understand the steps that must be followed and the legal requirements that must be met during the probate process. We can also assist in establishing guardianship for a minor child or a disabled adult.

A comprehensive estate plan will address what you would like to have happen after your death, and it can also help you make sure you and your family members will be provided for during your lifetime. In addition to specifying how you would like your assets to be distributed to your heirs, you can also take steps to protect your assets, provide instructions for how they should be used, and address how your healthcare and finances will be managed if you cannot do so yourself.

No. Everyone should take steps to plan for the unexpected, and by doing so, you can help your family avoid uncertainty or unnecessary complications. Creating a will can make sure your assets are distributed according to your wishes, and it will also allow you to name a person who you would like to serve as the guardian of your minor children. If necessary, you can also create a living will or powers of attorney to make sure your wishes will be followed if you become incapacitated.

By creating a last will and testament, you can specify exactly which property or other assets will go to specific loved ones. A trust can give you even more control over your assets, allowing you to provide specific instructions about when and how they will be distributed to your beneficiaries. This may include specifying that assets will go to a person once they reach a certain age, that assets should be used to pay for a person’s college education, or any other provisions that will ensure that assets are distributed according to your wishes.

Your last will and testament can specify the person or persons that you would like to serve as the guardian(s) of your minor children if you pass away before they reach adulthood. This will ensure that they will be cared for and raised by someone they know and someone you can trust. Your will can also specify that your children will receive certain assets that can be used to provide for their care, or you can create a trust and provide instructions for how your assets should be used to meet your children’s needs.

Yes. There are a variety of tools and techniques that can be used to avoid estate taxes by reducing the size of your estate or protecting assets from being taxed. There are multiple different types of trusts available for these purposes, including Irrevocable Life Insurance Trusts (ILITs), Qualified Personal Residence Trusts (QPRTs), or Grantor Retained Annuity Trusts (GRATs). Charitable Remainder Trusts (CRTs) or Charitable Lead Trusts (CLTs) can be used to reduce estate taxes while also donating assets to charity.

Disputes between family members can often be avoided by involving them in the estate planning process and making sure everyone understands a person’s wishes for how their assets should be distributed to their heirs. In many cases, disputes can also be avoided by working with an attorney to ensure that a will and other estate planning documents fully describe a person’s wishes and address any other relevant issues related to their finances and property.

Anyone who is over the age of 18 can create a will that describes their wishes for how matters should be handled after their death. By creating a will, you can specify how you would like your assets to be distributed to your beneficiaries, and you can also decide who you would like to serve as the guardian of your minor children if you die unexpectedly. After creating your will, it must be signed in the presence of two witnesses.

Even if you do not expect your will to be very complex, it is often best to work with an attorney rather than using online forms. An experienced lawyer can make sure your will includes language that will hold up in court if any disputes arise, and they can also make sure you address any unforeseen issues or complications. By discussing your wishes and goals with you, your attorney can help you create a will that meets your family’s needs. Your lawyer can also make sure you complete all requirements to execute your will correctly.

Whether you expect to address some straightforward issues when planning for your family’s future or need to determine how to handle complex financial matters, an estate planning lawyer can help you understand your options and work with you to put the right plans in place. Your attorney can help you create wills, trusts, powers of attorney, or other documents that will ensure that your wishes are followed correctly while providing you and your family with peace of mind that your needs will be met in the future.

Contact a DuPage County Estate Planning Lawyer

With the proper planning, you can avoid uncertainty about your family's future. Wills, trusts, and other estate planning tools allow you to address your finances and healthcare needs during the remainder of your life, while ensuring that your loved ones will be provided for after your death. No matter your age, health, or family status, having an estate plan in place can make sure your family is prepared for whatever happens, and it can help you avoid unexpected legal issues or expenses when addressing your healthcare and finances in the future.

To learn how the attorneys of SBK Law Group can address your plans for the future and make sure your family's needs will be met, contact our office at 630-427-4407. We provide estate planning services to clients in Downers Grove and Naperville and throughout DuPage County, Kane County, Kendall County, Cook County, and Will County.

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