Estate Planning is more complex than it might seem at first. Without an estate plan, the State of Illinois and its statutes determine how your assets will be distributed through the expensive and difficult process of Probate. The implementation of these statutes is not only time consuming and public, it may not conform to your ultimate wishes. We draft and implement estate plans that ensure your wishes are carried out.
Successful estate planning begins with lifetime planning. With proper preparation, estate and income taxes can be minimized, or even eliminated. Establishing a trust is also an important tool that can be used to protect the surviving spouse, children, and future generations from:
- Needless exposure to estate taxes;
- Divorcing spouses; and
- Claims of creditors.
What if your beneficiaries are unable, because of immaturity or inexperience, to manage their inheritance on their own? How can you be certain that charities and trusts of your choosing will receive a lasting legacy after your death? The answer to these concerns is estate planning.
Additionally, establishing a trust covers you if you become incapacitated. Who will make financial and medical decisions for you if you cannot make them for yourself? How will your assets be protected? The answer to these concerns is estate planning.
Contact us today to discuss your particular situation. Remember: the sooner you call us, the more options we will have in devising an effective estate plan to protect everyone you love and everything you own.