Estate planning is important for everyone, regardless of age or financial situation. A good estate plan can make the transition to retirement or death smoother for your loved ones and reduce costs. It can also help protect your assets from unintended consequences and minimize taxes. When choosing an estate planner, find one who understands your needs and who is experienced in preparing complex legal documents such as trusts and wills. In addition, an attorney with experience in probate and trust administration is a plus.
A comprehensive estate plan includes a will, revocable and irrevocable trusts, beneficiary designations on property and accounts, durable powers of attorney for healthcare and finances, living wills, advance health care directives and other documents. These devices allow you to transfer assets outside of the probate process, which can speed up distribution and reduce fees. They can also reduce the need for court intervention and help protect your privacy.
Having an estate plan in place helps ensure that your assets are transferred to your loved ones in the manner that you choose and prevents family conflict after your death. This is especially important if you have children and/or a spouse. A well-drafted estate plan can also avoid unnecessary litigation and guardianship disputes. An experienced estate planning lawyer can guide you through the process and provide peace of mind for you and your loved ones.
When selecting an estate planning attorney, look for a professional who is approachable and speaks in a way that is easy to understand. Many attorneys surround themselves almost exclusively with other attorneys and are accustomed to speaking in ivory tower legalese. Your attorney will be working closely with you on very personal and sensitive issues, so you want to work with someone you can connect with.
A good place to start is by asking for referrals from professionals you trust, such as your financial advisor and accountant. You can also scour print and radio ads to find an attorney who meets your criteria. However, it’s best to take the time to interview several candidates before making a decision.
In the event that a dispute arises after the death of a loved one, an estate planning and probate attorney can assist you with managing next steps, handling estate litigation and more. The Chicago lawyers at Orlowsky Wilson, Ltd. have more than 30 years of combined experience assisting clients with estate planning and resolving estate disputes.
Correa Law specializes in helping people from Chicago protect themselves and their families with proper legal planning since 2010. Their firm has a team of lawyers who are knowledgeable in all areas of estate planning, probate, and elder law. They also offer complimentary consultations and are accredited by the Better Business Bureau.
Attorney Marc J. Blumenthal is committed to providing reliable and compassionate solutions to his clients. His practice encompasses trust and estate planning, wills, power of attorney documents, probate and conservatorships. His clients include individuals, businesses, community organizations and religious groups. He has appeared as a guest on local television programs and hosts a weekly radio show, “The Legal Line”, every Thursday from 3:30pm to 4:00pm on WVON 1690 AM.