Naperville IL Estate Planning Attorney

Naperville Estate Attorneys Help You Plan for Your Future

Peace of mind is priceless. And, the knowledge that your wishes will be abided by appropriately and that your family and loved ones cared for as you intended provides just that. A legally sound estate plan protects you and those for whom you care. Wolf & Stec’s Naperville estate planning attorneys create estate documents that share your wishes and ensure they will be upheld. We help to protect the future of your family and assist you in planning for any and all unforeseen circumstances.

Guiding You Through the Estate Planning Process

We are proud of the reputation we have earned for attentive service and high-quality estate planning. At Wolf & Stec we work hard every day to help our clients plan for the future. We:

• Explain the purpose of estate planning and the documents that it includes
• Develop plans in accordance with your specific needs, goals, and wishes
• Create appropriate documentation in accordance with state laws to prevent future challenges
• Identify ways to minimize tax consequences for your beneficiaries

When working with a Wolfe & Stec estate planning attorney you can be assured that all of your estate planning needs will be met and that your best interests and those of your heirs will be safeguarded. We offer all potential clients a free and confidential consultation to discuss their needs. Contact us today at (630) 305-0222 to schedule an appointment.

“Which Documents Do I Need?” Your Estate Lawyer in Naperville Provides the Answers

Understanding the Basics

Looking towards the future and creating an estate plan is an important step for everyone. You may believe that you don’t have enough money or assets to make the process worthwhile. This is simply untrue. The benefits from pre-planning are considerable for people at every income level.

Regardless of “how much” you do have, proper planning ensures that your property will be distributed in a timely fashion and in accordance with your desires. Illinois residents who die without a will or trust effectively allow the state’s intestacy laws to distribute their assets. In all likelihood, this will result in your spouse receiving at least half of your estate with the remainder going to any children you have. If you are unmarried and without children, your estate will be divided among your nearest living relatives; and if you have no living relatives, your property goes to the state.

Clearly, this is not how everyone wishes their assets to be allocated. In order to distribute them in a different manner, you need a will or trust. These documents allow you to identify additional people for whom you wish to care, including relatives who may need special assistance. Additionally, they provide the opportunity for you to disinherit anyone should you have that desire. These wishes need to be appropriately documented in order them to be executed. Finally, in your will or trust you have the opportunity to select an executor of your choice. This individual will oversee the distribution of all of your assets. Additional basic documents important for everyone include a:

• Living will or end-of-life wishes declaration: This document specifies your medical decisions, including whether you wish to be resuscitated and to what lengths doctors should go to prolong your life.
• Durable power of attorney for health care: Used to identify a trusted person to make health care decisions on your behalf should you be unable to make them yourself, this document goes further than a living will and may be used in conjunction with one.
• Durable power of attorney for finances: This document enables you to appoint an individual of your choice to make financial decisions on your behalf should you become unable to do so yourself.

With surprises constantly arising, life rarely goes as planned. Having a well-thought out estate plan helps to ensure that your most important decisions will be upheld. When working with estate planning lawyers in Naperville, you can rest assured that your unique family situation will be taken into account and your estate planning matters will be based on your specific needs. We are committed to determining the best solutions for you and your family.

Call Wolfe & Stec today to set up a free consultation with one of our Naperville estate attorneys at (630) 305-0222.

Our Naperville Estate Planning Lawyers Create Trusts for Our Clients

Avoid Probate, Create a Trust

A trust designates an individual, the trustee, to hold legal title to property for your beneficiaries.

In many cases, you will want to avoid probate, it is both expensive and time consuming in Illinois. This court proceeding provides the executor the authority to settle your debts and transfer your assets. Creating a living trust helps avoid the probate process. That said, it is not the best choice for everyone. The right choice for you depends upon your asset base and financial circumstances. For example, if you do not own any real estate and your estate is valued below $100,000, state statutes allow your heirs to avoid probate and claim your estate directly, without going through the courts.

Two types of trusts that may be helpful are:

• Living trust – Created while you are alive, by your estate planning attorney, this is the most common type of trust. In general, the individual for whom this is drafted names his/herself as the trustee and retains control over all property held in the trust. Upon your death the beneficiaries identified in your will inherit the property. Even if you have a trust you still need a will in order name those you wish to inherit any property not in your trust. A living trust is NOT a substitute for a will.
• Irrevocable trusts – You cannot revoke or change these trusts once they are signed. When established, you effectively relinquish ownership and control of all property in them. They are created for a number of reasons including reducing taxes.

Call Wolfe & Stec today at (630) 305-0222 with your trust questions. Our estate planning lawyers in Naperville will meet with you, get a better understanding of your needs and share if and how a trust may be a good choice for you. Should this be beneficial, we will work with you to create one that meets your needs.

Wolf & Stec Estate Planning Attorneys in Naperville Provide Answers to Your Questions

Estate planning is overwhelming, it seems like there is so much to consider. And, preparing for the inevitable can be frightening. Our clients constantly asked questions. While our specific answers are tied to the unique situation of each and every client, some frequently asked questions are simpler to answer. Consider these.

Can I Draft My Own Documents or Do I Need an Attorney Draft my Will and Trust?

Correctly written documents, those that comply with the complex estate laws in Illinois, are necessary if you want your documents to stand up to scrutiny and challenges. Drafting these documents on your own is not wise. You may make critical errors rendering them invalid and open to challenge. The assistance of a professional with extensive experience and an in-depth knowledge of the law and its intricacies is critical. Our attorneys are committed to gaining an understanding of where you are now as well as your plans for the future. We create documents that are both in accordance with your wishes and in alignment with the laws of the State. We’ll make sure that those you wish to inherit your assets and property actually do.

If My Will Is Challenged, What Happens?

Unfortunately, if your will or trust is challenged and found to be invalid, your final wishes will not be executed. Without a doubt, challenges cause problems. The reasons a will or trust can be challenged can include, but are not limited to:

• Undue influence – If someone believes you were coerced to make provisions benefiting certain individuals.
• Fraud or forgery – when someone believes you did not create or sign the documents
• Mental capacity – Did you understand what you were doing when you created your documents? Were you of sound mind?
• Breach of fiduciary duty – If your estate executor acts improperly, for example by stealing or mishandling assets, this occurs.
• Execution or interpretation – when documents have not been signed or witnessed correctly or the terms and instructions have not been interpreted correctly.

At Wolfe & Stec, our attorneys recognize these issues and are committed to avoiding them. When you work with us you can be assured that your estate documents are sound, incorporate all requisite details and don’t leave anything open to conjecture. We know the laws and we create legally sound and enforceable estate plans

I Am Concerned for My Parents. How Can I Help Them?

We all worry about our aging parents. You must identify your primary concern. For example, do you think someone may take advantage of them? If they are indeed vulnerable, they may need a durable power of attorney.If they have one, ask who they have designated to handle things on their behalf. If they don’t have them, consider asking the court to name a guardian to oversee and protect their affairs. If they have passed away and you believe someone held undue influence over them in preparing their estate plans, contact our Naperville estate attorneys, they may be able to challenge their wills in court.

Why Should I Name a Guardian?

Should you become incapacitated and don’t have a sound durable power of attorney in place, the court may appoint a guardian. This individual would be responsible for managing your finances, healthcare and living arrangements. In effect, they would make all decisions on your behalf. At Wolf & Stec, we advise our clients to create a durable power of attorney. By doing this you select the person who will handle your affairs, not the legal system.

Our Naperville Estate Attorneys Create Complete Estate Plans

Prepare for Your Future and Contact us Today

Don’t put off for tomorrow what you can do today. Wiser words were never spoken. Take control of your future and that of your family’s today. At Wolf & Stec, we are ready to go to work for you immediately. We will leverage our extensive knowledge and expertise and ensure that your estate plans are legally sound accurately represent your wishes. We know how to make sure your future plans are sound and your family is cared for in the manner in which you intend.

Our Naperville estate planning attorneys will create documents that clearly communicate your intents and wishes. They will be legally sound, effectively communicated and carefully preserved to prevent future challenges or issues. Call Wolfe & Stec today to schedule a free consultation at (630) 305-0222. We look forward to helping you and your family.