Estate Planning Attorney in Arlington Heights, IL
The Law Office of Robert Thomas recognizes that estate planning is more than just protecting your assets. Estate planning is ensuring that your family’s future and those you love are protected for years to come in the event of your death. Through our trusted and compassionate service we can help you make those important decisions by giving you practical recommendations to accomplish your goals. Whether you want to set up an estate, write a new will, make a guardianship designation, or have other concerns, we will examine which estate-planning document fits your needs to help you with probate or a better alternative, reduce estate taxes, safeguard your beneficiaries, and protect your hard-earned assets.
Will
A Will is a legal document by which a person leaves all of his/her real property (i.e. buildings) and personal property (i.e. all other property) to specifically named persons, known as beneficiaries. A will takes effect at death. The will does not have to list each item of property. It is simply the property that is owned at death. A will can be revoked or modified at any time prior to death. If the value of the property at death is $100,000.00 or more, then the estate goes through probate.
Trusts
A Trust is a legal document that similarly to a will, leaves all of the real and personal property of the person creating the trust to specific beneficiaries. A property can be moved from the person’s estate to a trust by changing the title from individual (or married names) to property. Like a will, a trust may be revoked or modified at any time during the person’s life.
Revocable Living Trusts are a popular means of avoiding probate matters and estate taxes.
Power of Attorney
A Power of Attorney is a legal document that allows an individual to empower another with decisions regarding his or her healthcare and medical treatment, should that person become unable to do so.
Healthcare power of attorney becomes active when a person is unable to make decisions or consciously communicate intentions regarding treatments.
Property Power of Attorney allows for an agent to control a principal’s property and financial interests.
Other Practice Areas
- Probate Law
- Guardianship
- Family Law
- Divorce Law
- IRS and Tax Collection
