Estate Planning Archives

Why it may be best to seek help with an estate plan

Illinois residents have the ability to create their own wills online. However, it may not be the best idea to do so, and those who have complicated estates may especially benefit from working with an estate planning professional. Ideally, an individual will have a will, trust and an advance health care directive. It is also a good idea to have a financial power of attorney.

Types of trusts for estate planning

When an Illinois resident passes away, his or her family members will need to go through probate. This process can take as little as a few months or up to several years. Individuals who plan their estates early on can establish who gets all their belongings and any of the property they leave behind. This can include life insurance, property, homes, vehicles and valuable artwork and jewelry.

Single people and estate planning

Illinois residents who do not have any children and who may be nearing retirement should still strongly consider preparing an estate plan. There are various legal documents single people should have to ensure that their wishes are honored in the event that they become unable to make decisions for themselves or after they die.

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