Do You Need an Estate Plan?
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The Law Offices of Hoy & Sahlas, LLC.
Who will distribute your property and money and who is entitled to get it when you pass away ?
A Will allows you to appoint someone you trust to carry out your instructions and distribute your estate to your loved ones as you wish. For more information, read:
Will your loved ones lose their inheritance to Federal Estate Taxes when you pass away?
A Living Trust can help your loved ones avoid or defer paying Estate Taxes when you pass away.
Will your loved ones have to endure years of legal red tape and high costs in Illinois Probate Court when you pass away?
Spare your loved ones from the Illinois Probate process with an appropriate estate plan, such as a properly executed and funded Living Trust.
Who will care for your children if you (and your spouse, if applicable) pass away?
Without a will, the Court may decide. A Will allows you to nominate a guardian for your children after your death. A Living Trust can provide for the financial well-being of your children after your death.
How can you prevent your children from getting their entire inheritance at age 18 and mismanaging their funds?
You can establish a Living Trust which can provide for asset preservation and for your children’s inheritance to be apportioned as the child matures.
Who will care for your medical and health care needs and manage your finances for you (or your spouse, if applicable) if either of you become injured, disabled or unable to communicate?
You can appoint a loved one to make medical & health care decisions on your behalf in the event of sudden disability or injury with Advanced Medical Care Directives. You can take steps to provide for your finances (and your family, if applicable) in the event of a sudden disability or injury by establishing an Illinois Power of Attorney for Property and/or a Living Trust.
If you should someday become unable to communicate your health care decisions and death is imminent, will you be forced to stay alive artificially by death delaying procedures against your wishes?
If you become unable to communicate your health care decisions, a Living Will declares to your Physician and loved ones that you do not wish to be kept alive artificially or to have death delaying procedures administered to you.
For more information, read:
- “Create proper documentation to prepare for the unexpected.” or
- “Give trusted person ’power of attorney’ privileges.”
How Can I Schedule a Free Estate Plan Consultation?
If you have questions about the application of the law in a particular case, consult your lawyer. The law is constantly changing. Information on this site or any site to which we link does not constitute legal advice.