Are you concerned about what will happen to your assets and loved ones after you pass away? Estate planning ensures that your wishes are carried out and that your loved ones are taken care of if you pass.
It allows you to make decisions about the distribution of your assets. That also includes appointing guardians for minor children and planning for end-of-life care.
Creating an estate plan gives you peace of mind knowing that your loved ones will be taken care of and your assets will be handled according to your wishes. Keep reading to learn more about estate planning in Cicero, IL, and how to get started.
What Is Estate Planning?
Estate planning is organizing and planning for managing and distributing your assets after your death. That can include creating a will, trust, or other legal documents to specify your wishes for the distribution of your assets and the care of your loved ones. It can also include appointing a power of attorney to make financial and medical decisions if you become incapacitated.
Why is Estate Planning Important?
Without an estate plan, the determination of the distribution of your assets may be by state laws. Their decision may not reflect your desired outcomes.
An estate plan can also help to avoid costly and time-consuming probate proceedings and legal disputes among your loved ones.
What Should Be Included in an Estate Plan?
The specifics of your estate plan will depend on your circumstances and goals. At a minimum, your estate plan should include a will, which specifies how you want your assets distributed after your death.
It would be best if you also considered appointing a power of attorney. They can handle your financial and medical decisions if you become incapacitated. Other important components of an estate plan may include trusts, advance healthcare directives, and beneficiaries for financial accounts.
How to Get Started with Estate Planning in Cicero, IL
If you’re ready to get started with estate planning in Cicero, IL, the first step is to seek the guidance of a qualified estate planning attorney. A knowledgeable lawyer can help you understand your options and create a customized plan that meets your needs and goals.
At Koch & Associates P.C. Attorneys at Law in Cicero, IL, our experienced lawyers are here to help you with all your estate planning needs. So don’t wait to get started on your estate plan – contact us today at 708-656-9900 to schedule a consultation.