Establishing a plan for your estate for after your death is important, and stressful. The Hinsdale estate planning attorneys at Wolfe & Stec, Ltd. can guide you through this process. Avoiding discussions about death is common, but estate planning is critical in order to ensure your family is cared for and your plans are followed.
Hinsdale estate planning attorneys can develop legally sound estate plans by:
The Hinsdale estate attorneys at Wolfe & Stec will address all of your concerns and ensure that your interests and those of your beneficiaries are well protected. Contact us today at (630) 305-0222 for a free consultation.
Essential documents are needed to communicate, in advance, what you want done with your assets, as well as your end-of-life wishes should you become incapacitated. Upfront planning ensures that all of your property will be distributed promptly and according to your explicit wishes.
If you die without a will or trust in place, your assets will be divided according to Illinois intestacy laws, regardless of what you may have wanted. This generally means:
Clearly, the division of assets stated above may be different from what you would wish. Perhaps you want to provide supplemental care for a disabled loved one. Maybe you feel it is necessary to disinherit a child. In order to do this, specific forms and documentation are required to ensure that your wishes are carried out. These include:
In order to be legal, and enforceable, these documents must be prepared in accordance with Indiana law. In fact, some require witnesses and notarized signatures. Being prepared for any and all situations is responsible. Make sure your wishes are known and communicated appropriately. At Wolf & Stec our estate planning lawyers in Hinsdale will work with you, provide advice and counsel, and handle of your estate planning matters .
Call us today at (630) 305-0222 to begin.
Probate, an expensive and time consuming legal process in Illinois, is a court proceeding where your executor is provided authority to pay your debs and transfer your assets. Often, it should often be avoided. Creating a trust can help.
The trust will designate an individual, the trustee, to hold legal title to property for your beneficiaries and avoids the probate process. However, a trust is NOT appropriate for everyone. For example, heirs of people with no real estate and an estate valued under $100,000 are allowed by Illinois state statutes to file a small-estate affidavit to claim an estate without probate.
If your circumstances warrant a trust, you have two options:
Needless to say, there are a number of frequently asked questions and concerns surrounding estate planning. Our Hinsdale estate planning attorneys are experienced in providing the answers.
Quite simply, it is a wise decision to work with an estate planning attorney.
With legal assistance from Wolfe & Stec, you can be assured that your documents are legally correct and that your intentions are clearly communicated. Your assets and property will be inherited by those whom you intend.
If someone contests your will or trust and is successful, your final wishes will not be carried out as you had intended. The most common reasons that wills and trusts can be contested include:
In most cases the answer is yes. Something we all know to be true is that in life things rarely stay the same. Should you have change of life event, including the birth of a child, the end of a marriage or even the death of a primary beneficiary — your estate plan must be updated to reflect the situation. You may need to name new beneficiaries or even identify a new executor. Failure to do so may result in your assets being distributed in ways you do not want, including to your ex-spouse.
A guardian may be appointed by the court in specific instances. For example, if you become incapacitated and haven’t identified anyone to undertake responsibility in your durable power of attorney. Guardians are responsible for managing and making decisions regarding your healthcare, finances, and living arrangements, among other issues. Naming a guardian in the durable powers of attorney we prepare for you allow you to designate the trusted individuals you want to undertake this responsibility on your behalf.
Your family’s future is something to be taken seriously. Advanced planning, including the preparation of important estate planning documents is vital to ensuring your wishes will be carried out. Enlist the skills of a Hinsdale estate planning attorney from Wolfe & Stec to manage the coordination of your estate planning needs. We have extensive experience and can ensure that your documents are legally sound. You want to avoid situations where you don’t have control of your end-of-life decisions or who gets your hard-earned assets and property.
Our Hinsdale estate planning attorneys will draft documents on your behalf and will ensure that the intent of your will, trust or other document is clear and preserved to prevent any challenges or problems. Call Wolfe & Stec today to schedule a free consultation at (630) 305-0222. We are committed to helping our clients prepare for the future look forward to helping you protect your estate and your family’s future.