Why Do I Need a Lawyer to Plan My Estate?

Why do you need a lawyer to plan your estate? Details. The answer is in the details. While Google provides you a world of information about the law at your fingertips and even sample forms that purport to be legal documents for you to print out, I would highly advise you to consider the following:

 

  • An experienced and knowledgeable Illinois attorney knows the ins and outs of estate planning in this state, which is important as Illinois state law and case law are complex and are always evolving. A good lawyer works hard to keep up with changes in the law.

 

  • Improper execution of a will, or failure to meet the legal and technical requirements of a will, can render your will invalid. An invalid will leaves your estate open to intestacy, or a default process in which a probate court distributes your estate in accordance with a priority list established by the state legislature. This can also leave your minor children in legal limbo as the guardian you designated for them in the event of your death may not get to care for the children.

 

  • Unless you have no children, few assets, and little property, there is nothing simple about estate planning. A lawyer will ask for comprehensive information about you and your loved ones, about everything you own, and about your wishes and goals for your estate. With this information in mind, you will be provided with all of your legal options so you can make a fully informed decision.

 

  • One of your options in planning your estate includes setting up a trust for your loved ones. This ensures that they don’t receive (and spend) everything at one time. This is a great option if your children are eighteen years old, or in their early twenties. Establishing a trust is an intricate process which must comply with legal requirements to be considered valid.

 

  • A significant part of estate planning is anticipating taxes. An attorney that has extensive experience in estate planning and in tax law can help you put together a plan that maximizes tax advantages, so that you can leave your loved ones with as much as possible.

 

You Need an Attorney

 

I have over twenty years of legal experience in guiding clients in the areas of estate planning, probate law, tax law, and family law. I can help you with your estate planning needs. My team and I are professional, knowledgeable, and detail-oriented, and want to make sure that your loved ones are taken care of in accordance with your wishes. Call the Law Offices of Robert S. Thomas today at 847-392-5893 or visit our website to set up a consultation.

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