Attorneys insist that it is beneficial to engage in some estate planning or at least know the basics. By making these types of plans, you can ensure that your final wishes will be met. In Illinois, you should know what key documents are used for estate planning purposes.
Basic Estate Planning Documents
To initiate the process, contact estate planning attorneys in Rockford, IL to review some of the paperwork and make inquiries. Basic estate planning documents include the following:
• A Will: Used to designate your assets and name an executor
• A Durable Power of Attorney: Used to designate someone to take care of your finances, if required
• A Living Will: Used to outline your wishes for medical care if you are involved in a serious accident or are at the end of your life
• The Designation for a Surrogate for Health Care: Used to name an individual who will ensure that your health care wishes are honored
When speaking to estate planning attorneys, you want to make sure that you take certain steps to prevent probate as well. This process, which can be costly and time-consuming, should be avoided. You can make this happen by creating a living trust or producing a similar legal document. Do so now so that your family will not have to go through this long and emotionally draining process.
Create a Will
To begin the estate planning process, go over your wishes with estate planning attorneys. Protect your estate by creating a will. Use the will to do the following:
• Leave your property to whom you wish
• Designate a guardian for your young children
• Name a person to manage the care of property that you leave to minor children
• Name a representative who will ensure that your last wishes, or the terms of the will, are performed
Who to Contact
Do not risk dying without having created a will. Talk to a legal team at Crosby Law Firm about your estate planning needs. Regardless of the size of your estate, estate planning can give you peace of mind and avoid disputes after you die.