An Estate Planning Attorney is an expert in preparing legal documents that help you pass on your assets to your loved ones after you die. An estate plan may include a will, a trust, powers of attorney, and other instruments to ensure that your wishes are carried out and your assets are protected from creditors or tax issues.
The right estate planning attorney can make all of the difference when it comes to passing on your legacy. These attorneys have the legal, financial, and relationship skills to help you create an estate plan that meets your needs. They can assist you with everything from drafting a will and trust to ensuring that you have a power of attorney and healthcare directive in place should you become incapacitated.
Your Assets Need a Good Estate Plan
An effective estate plan protects your family and your assets from creditors, lawsuits, and other threats. It also helps you to ensure that your loved ones will receive the inheritance they deserve, if you should die prematurely.
Having an experienced and skilled estate planning attorney in Chicago can help you to achieve the goals you have set for your life and your legacy. A good estate planning attorney has years of experience in creating and implementing plans that meet your specific goals.
The best estate planning attorney will have the time to work with you on your plan. Ideally, the attorney you choose will have a full-time practice dedicated to estate planning. This will allow him or her to dedicate the time necessary to get to know you and your assets so that they can provide you with comprehensive and practical advice.
Your Assets Need a Great Estate Plan
Your estate can include everything from your home, to retirement accounts, IRAs, stocks and bonds, savings accounts, and even your life insurance policy. A good estate plan will protect these valuable assets from creditors and taxes, as well as provide you with the ability to direct your heirs and beneficiaries how to receive your property.
A good estate plan will also allow you to avoid the probate process, which can be expensive and time consuming for your loved ones. The Chicago estate planning attorneys at Hays Firm LLC can help you to develop a thorough and comprehensive estate plan that will protect your loved ones and their property.
Special Needs Trusts are another important type of estate plan that can be created to help you to protect your children and other family members who may need assistance with care in the future. A special needs trust will ensure that they are able to continue receiving government benefits such as Medicaid, Social Security Disability, and Medicare, when they become unable to do so on their own.
Business Owners Need an Effective Estate Plan
An effective estate plan will also be important to a small business owner who wants to leave the company in the hands of their desired successor. This will help to minimize the financial impact of the death of an owner on a company, as well as ensure that the ownership will be passed to someone who is interested in the business and its long-term success.