Estate planning is an important step in ensuring that your family and assets are well cared for after you’re gone. The process involves writing a lot of legal documents, which is why it’s best to hire an attorney who specializes in this area. A qualified estate planning attorney will help you create or update your will, trust and power of attorney documents. He or she can also advise you on ways to minimize inheritance and estate taxes.
When choosing an estate planning attorney, make sure you work with someone who is licensed and has passed the bar exam in your state. This is especially important, because laws and probate procedures vary by state. Additionally, it’s important to find an attorney that you feel comfortable sharing your personal information with, as this is a very sensitive and private process.
A skilled Chicago estate planning lawyer will understand your situation and goals and guide you through the process. During your initial consultation, the lawyer will explore your desires, assets and needs to create an estate plan that fits your unique circumstances. He or she will also assist you in creating a durable power of attorney for financial matters and a healthcare power of attorney that names a person to make medical decisions on your behalf in the event of incapacitation.
Your estate planning attorney will assist you in minimizing taxes on your estate and inheritance, which is an important concern for most people. This can include reviewing your taxable status and recommending tax strategies, such as gifting and trusts. Additionally, your attorney will review your property and determine its value to establish the amount that will be subject to estate taxes.
In addition to helping you with the aforementioned tasks, your estate planning attorney will prepare a will and other documents that clearly and accurately express your wishes regarding the distribution of your assets after your death. A good Chicago estate planning attorney will also explain the pros and cons of different types of trusts to help you choose the right one for your situation.
Lastly, your estate planning attorney will provide assistance with the probate process, which is necessary to ensure that your assets are transferred according to your wishes. This can be complicated, especially if you have out-of-state property or assets that are linked in complex ways.
An experienced estate planning attorney can make the process much easier and less stressful for you and your family. If you’re ready to discuss your estate planning options, contact Davis & Associates Attorneys at Law today to schedule a free consultation. Our lawyers are committed to providing you with quality legal representation and exceptional service. We understand the importance of establishing a strong relationship with our clients and strive to create a positive experience for them. We offer flexible appointment times to accommodate your busy schedule, including evenings and weekends. You can also reach us online to request an appointment. We look forward to hearing from you!