Estate Planning

By: GoEstatePlans  07/06/2014
Keywords: Estate Planning

What is estate planning, you ask? An Estate Plan refers to the establishment of instructions in the form of legal documents providing for the administration, management, and distribution of one’s property and assets in case of death or incapacity. Failing to prepare a proper Estate Plan with our Illinois estate planning attorneys can result in significant and unnecessary risks, costs, and burdens for your family and future generations upon your passing; some of which are as follows: Your estate may be required to go through Illinois Probate which can result in thousands of dollars of unnecessary court costs and attorney’s fees; There is a significant likelihood your assets and property will pass to your family according to Illinois Probate laws and only when approved by a Judge Your assets and property become part of a formal Illinois Probate process which is a public proceeding; There is an increased likelihood of family emotional burdens and conflict regarding the deceased’s assets; Much of your assets can not be transferred or distributed to your loved ones for months or longer; Increased potential for Federal and Illinois Estate tax and creditor liability for your family; and more.

Keywords: Estate Planning

Other products and services from GoEstatePlans

07/06/2014

Power of Attorney

An Illinois Power of Attorney lets you name someone to manage your financial affairs if you are unable to do


07/06/2014

Planning for Domestic Partners

Planning for Domestic Partners Estate planning for married people focuses on making it as easy as possible for the surviving


07/06/2014

Planning for Married Couple

Planning for Married Couple Estate planning for married people focuses on making it as easy as possible for the surviving


07/06/2014

Planning for Single People

Planning for Single People Estate planning for single people is generally simple. However, since you are not currently married you


07/06/2014

Will & Living Trust

Why you need a Will and a Living Trust? Posted on June 25, 2014 . Share: Boarder-LivingTrust.7475706_std It is commonly