By an Experienced Chicago-Based Estate Planning Attorney
It can be difficult to take the first steps towards planning for what will happen when you die, but it is essential for planning the security of your beneficiaries in the event of your untimely death. It is important to think about who will care for your children, and how they will be provided for financially so that, should the unthinkable happen, that their future is taken care of.
Legal documentation in the form of a last will and testament will ensure that your wishes are recorded accurately and carried out correctly. As an experienced estate planning law firm, we will help you create these documents, as well as updating them to address any changes in your life. Our detailed approach to ensuring that all legal requirements are met provides your family with everything they need to smooth the process in a difficult time. In addition to will drafting, we are also able to assist with estate administration, handling contested wills, and all other probate matters.
Creating Your Last Will and Testament
This is the legal document that details instructions for carrying out your wishes following your death. It addresses:
- Your estate’s beneficiaries.
- Your executor (the person who will administer your estate).
- The guardians of your children (if they are minors).
According to Illinois estate law, if these three issues have not been defined, they will decide for you based on state statutes. This means that property will be distributed to close relatives starting with your spouse and children, then parents and grandchildren, and then other relatives. If you have children who are still minors, the court will appoint a legal guardian.
This can be avoided by having a will in place that allows you to specify how your property will be distributed, who the beneficiaries are, how outstanding debts should be handled, who should be appointed as a legal guardian for your children, and who should execute the estate.
After your death, the terms laid out in your will will be carried out in the probate process, although, in some cases, this can be avoided if the estate is managed through a trust or if qualified for a small estate affidavit.
Chicago-Based Will Drafting Lawyers
Whether you have only a few assets or considerable wealth, your last will and testament remains an important legal document. Having it drafted professionally will ensure that your children and other beneficiaries are provided for, and your specific wishes are carried out.
The team at Michna & Khanice, Attorneys at Law offers many years of experience and in-depth knowledge of the various estate planning tools available, as well as the Illinois probate process. To ensure that you receive the services and support you need, we will:
- Draft a will as well as any other necessary estate planning documents taking into account your personal situation, as well as your requirements.
- Streamline the process by gathering all required information before scheduling an appointment.
- Offer advice on additional services such as a trust if it is in the best interests of you and your family.
- Strive to make the process affordable, convenient and stress-free.
To get started, please give us a call on 847.446.4600, or schedule an appointment below.