Aspects of Estate Planning
- Who acquires your property?
- Who will be the guardian of your children?
- How can you protect assets from future creditors?
- Who will make medical decisions on your behalf?
- What are your preferences for medical treatment?
- Who will be the executor of your estate?
Your preferences in these areas, including beneficiary designations and medical treatment, matter greatly. A decision regarding medical treatment needs annotation for a medical power of attorney, which identifies whether or not you want extraordinary measures taken to keep you alive if something were to put you in a vegetative state or severely limit the quality of your life. Decisions involving guardianship include who will care for special needs dependents or minors and how that care will remain financially viable.
The answers to these fundamental questions will vary from person to person. Not having the correct legal documents to protect your answers may make it harder for those involved upon your passing. Your preferences are even less protected if you want to designate non-family members to fill these roles without the necessary documentation.
The Proper Legal Documentation
- Asset protection trusts
- Durable powers of attorney
- Last will and testaments
- Revocable and Irrevocable trusts
- Special needs trusts
Nothing regarding your desires for your future is absolute. Do not assume that everything goes to your spouse, even if you are married. Unfortunately, an untimely passing is often ripe with various family members who want to fight for custody, ownership, and decision-making rights on your behalf.
Even if it is likely that your spouse will retain custody or ownership, the amount of time tied up fighting legal battles can be painful and costly. Estate planning often goes hand in hand with complex areas of law, including estate taxes and other tax laws. Nothing protects your rights and decisions better than speaking with an experienced estate planning lawyer to document all of your wishes.
Dreyfus Law Group Estate Planners in Illinios
Dreyfus Law Group’s team of estate planners will help you evaluate the critical aspects of your life. Our team will not make decisions on your behalf or tell you what you should do. We review your options to find what works for you.
Although many forms may be somewhat standard, they are not entirely cookie-cutter. The decisions over handling your estate should be yours alone and tailored to your individual needs.
We are proud to serve clients throughout:
Elmwood Park, IL | Forest Park, IL | Maywood, IL | Melrose Park, IL | Norridge, IL | Oak Park, IL | River Grove, IL
For experienced estate planning attorneys, contact the Dreyfus Law Group today at 773-327-3474 and schedule a free consultation.