Wheaton Will and Trusts Lawyer
It is important that you and your family analyze your estate planning needs. Important questions – questions that many of us would prefer to avoid – need to be answered to ensure the welfare of your loved ones.
- What will happen to my property upon my death?
- Who will become the guardian of my children?
- Who will have legal authority to take care of me and my finances if I am incapacitated?
- If I have a terminal illness or condition, who will enforce my wishes concerning life sustaining treatment? Do I need a Living Will?
- What happens if I do not have a Last Will and Testament?
- What happens if I do not have a Durable Power of Attorney for Property or a Durable Power of Attorney for Health Care?
- How can I avoid costly and time consuming Probate proceedings when I die?
- Will Estate Taxes (also known as Death Taxes) be incurred at my death, and if so, how can I avoid them?
- What are the pros and cons of creating a Living Trust?
- When would I use a Revocable Living Trust, and when would I use an Irrevocable Living Trust?
Simply making others aware of your wishes is not enough. It is essential that you have the legal framework in place to ensure that your estate planning goals are met. The attorneys of Anderson & Associates are experienced in estate planning for individuals and couples, including the preparation of the following:
- Last Wills and Testaments;
- Powers of Attorney for Property;
- Powers of Attorney for Health Care;
- Living Wills;
- Living Trusts;
- Credit Shelter Trusts;
- Irrevocable Life Insurance Trusts;
- Amendments to Trusts and Codicils to Wills; and
- Other estate planning documents tailored to our clients’ requirements.
If you have an estate plan presently in place, whether it is a simple will or a living trust, it may be advisable to have it reviewed and amended, especially if you have had any significant changes in your life subsequent to the execution of your estate plan documents. For instance, if you have had a child, adopted a child, gotten married, divorced, or remarried, or if you have acquired new assets since your estate plan was established, you may need to amend your will, trust, or powers of attorney to reflect those changes. It is important that you have an experienced estate planning lawyer review your estate plan if any such changes have taken place.
It is also important to review your estate plan in light of recent and upcoming changes to federal and state tax laws as they relate to estate taxes. Depending upon the value of your assets and the manner in which your assets are owned, your estate may be subject to sizable state or federal taxes, which will significantly reduce the net assets that will go to your spouse, children, or other beneficiaries. There are tools such as Marital Trusts coupled with Credit Shelter Trusts or Bypass Trusts, as well as Irrevocable Life Insurance Trusts, which allow you minimize or completely eliminate the tax burden on your estate upon your death.
For Deceased and Disable Persons
In the event that you or a loved one dies or becomes disabled without the estate planning in place necessary to avoid court involvement, a Probate Estate may need to be opened and administered by a lawyer, so that an Executor, Administrator, or Guardian can be appointed to manage the estate. The attorneys of Anderson & Associates also handle Probate Estate Administrations, Guardianship Proceedings, and Trust Administration.
If you have any questions concerning Estate Planning, Wills, Trusts, Powers of Attorney, Living Wills, Guardianships, or Estate Administration, please feel free to give us a call to speak with an attorney or to schedule a free consultation with one of our attorneys.
Our Wheaton estate planning attorneys help families and individuals plan for the future and record effective wills and trusts. At Anderson & Associates we advise and assist husbands, wives, and parents who need to revise estate documents after divorce or separation. The lawyers in our Du Page County law firm serve people at all stages of life who want to record their final wishes in legally enforceable documents.
For effective handling of a will or trust, contact our Wheaton estate planning lawyer.
Call us today at (630) 653-9400
We offer free consultations with a Wheaton wills and trusts attorney.
A properly prepared will or trust provides clear and legally enforceable directions for family members and other beneficiaries. They record the final wishes of the decedent, addressing the disposition of personal property, assets, and decisions regarding advanced healthcare issues. Effective estate planning also reduces the chances of estate litigation and disputes among family members after a loved one has passed away.
Our Wheaton law office serves divorcing families who need updated financial plans and individuals who are preparing wills for the first time. We review existing estate documents and draft new estate tools including:
- Wills - the most basic estate planning tool; addresses a wide range of personal and financial matters
- Trusts - transfers assets to beneficiaries while reducing estate tax penalties
- Living wills - records healthcare decisions regarding terminal illness and life-support options; known also as a healthcare directive
- Durable power of attorney - gives legal power to someone to make healthcare decisions
- Pre-nuptial agreements - pre-marital agreement signed before the marriage; a legal contract that addresses marital properties and other issues
- Post-nuptial agreements - a legal contract between a husband and a wife addressing financial, personal, and estate matters
Probate Law and Estate Contests
When valid estate documents do not exist, the estate is administered by the probate court according to state probate code. We handle probate matters on behalf of the estate itself, family members, and other interested parties. In some cases the validity of a will or trust is challenged by a family member or potential beneficiary. Sometimes these objections are frivolous attempts to secure a portion of an estate. But estate contests can also stop the execution of an illegally formed will or trust.
To discuss your needs regarding an estate planning or probate matter, contact our Du Page County wills and trusts lawyer.
Free initial consultations • Credit cards accepted
Anderson & Associates, P.C. concentrates its practice in family law matters, including divorce and estate planning. We serve clients throughout the DuPage County suburbs, including Wheaton, Naperville, Glen Ellyn, Oak Brook, Bensenville, Lombard, Addison, Downers Grove Elmhurst, Lisle, Itasca and other Chicago area suburbs from our DuPage County Law Offices.
