If you’re like most people, you probably don’t think much about estate planning until later in life. After all, why would you need to plan for your death when you’re young and healthy? However, estate planning is not just for the elderly. In fact, anyone who owns property or has minor children should have an estate plan in place.
If you don’t have an estate plan, your family will have to go through the probate process after you die. This can be a long and expensive process, so it’s best to avoid it if at all possible. An estate planning attorney in Rockford, IL can help you create a comprehensive estate plan that will protect your loved ones and your property.
One of the first things you’ll need to do when you meet with an attorney is to decide how you want your assets to be distributed after you die. You’ll also need to designate a guardian for your minor children. If you have a disabled family member, you may need to set up a trust to provide for their care.
Once you’ve decided how you want your assets to be distributed, you’ll need to create a will. This document will specify who gets what after they die. You’ll also need to name an executor for your estate. This person will be responsible for carrying out your wishes after you’re gone.
If you have a large estate, you may also want to consider setting up a trust. This tool can be used to protect your assets from creditors or to provide for your family’s future needs. Trusts can be complex, so it’s crucial to work with an attorney who understands them.
When you work with Crosby & Crosby LLP Attorneys at Law, you’ll receive professional insight into which estate planning tools best suit your unique situation. If you’re ready to get started, schedule a consultation today.
