It is imperative that everyone, regardless of age or financial status, engage in estate planning. A well-crafted estate plan can lower expenses and help your loved ones have an easier time transitioning into retirement or death. It can also save taxes and shield your assets from unforeseen losses. Choose an estate planner who is knowledgeable in creating complicated legal documents like wills and trusts and who also knows your needs. Furthermore, it is advantageous to have a lawyer with expertise in trust administration and probate.
A complete estate plan consists of a living will, advance health care directives, durable powers of attorney for healthcare and finances, beneficiary designations on property and accounts, revocable and irrevocable trusts, and other legal papers. By transferring assets outside of the probate process, these tools can expedite distribution and lower costs. They can also assist safeguard your privacy and lessen the need for judicial intervention.
In addition to preventing family strife after your death, having an estate plan in place helps guarantee that your assets are given to your loved ones according to your wishes. This is particularly crucial if you are married or have kids. A well-written estate plan can also help to prevent needless lawsuits and guardianship conflicts. You and your loved ones can feel more at ease during the process with the help of an experienced estate planning attorney.
Choose an estate planning lawyer who is easy to get along with and who communicates clearly when choosing one. Many lawyers spend practically all of their time with other lawyers and are used to talking in legalese that comes from ivory towers. You want to deal with an attorney that you can get along with because you will be working closely with them on extremely private and delicate matters.
Seeking recommendations from experts you trust, like your accountant and financial advisor, is a smart place to start. Search print and radio advertisements as well to locate a lawyer that fits your requirements. It is advisable to allocate sufficient time to interview multiple candidates prior to making a final decision.
An estate planning and probate lawyer can help you manage the next stages, handle estate litigation, and more in the event that a disagreement occurs following the death of a loved one. With over 30 years of combined experience, the Chicago attorneys at Davis & Associates Attorneys at Law have helped clients with estate planning and estate dispute resolution.
Since 2010, Correa Law has focused on assisting Chicago residents in safeguarding themselves and their families via appropriate legal preparation. A group of attorneys at their firm are experts in all facets of elder law, probate, and estate planning. In addition, they are Better Business Bureau recognized and provide free consultations.
Marc J. Blumenthal, an attorney, is dedicated to giving his clients dependable and considerate legal answers. His practice includes probate, conservatorships, power of attorney agreements, trust and estate planning, and wills. Individuals, companies, neighborhood associations, and religious institutions are among his clientele. In addition to hosting a weekly radio program called “The Legal Line” on WVON 1690 AM every Thursday from 3:30 to 4:00 p.m., he has made guest appearances on local television shows.
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