Estate Planning Law Firm Schaumburg,IL
How You Can Protect Your Heirs
If you are in the middle of a divorce proceeding, thinking about getting a divorce, or are worried about any possible future litigation, you may have concerns about whether your estate plan protects your heirs against litigation. This is a valid concern and something that should be addressed with the help of an estate planning law firm in Schaumburg, IL.
When you leave your assets or an inheritance to your intended heirs, you have a natural expectation that they will receive them. However, it is possible for their inheritance to be contested.
As an estate planning lawyer in Schaumburg, IL might tell you, divorces, judgements, creditor claims, business claims, and so forth could impact your estate and any inheritance that is meant to go to your heirs. This can occur through no fault of their own; however, any carelessness on their part could increase this risk. It is possible to reduce this risk through the right estate planning measures. Because no two estate plans are exactly alike, it is recommended that you consult a Schaumburg, IL estate planning law firm.
Protecting Your Heirs
Perhaps you have concerns about your grandchild using their inheritance to make a large purchase in joint names, only to lose the asset in a divorce. This is a very common concern and one that can be avoided through the drafting of an irrevocable trust, beneficiary controlled trust, or trust with a will. It will likely not be possible to do this without the help of an estate planning law firm in Schaumburg, IL.
At Bott & Associates, Ltd., we offer a broad range of estate planning services including:
- Estate administration
- Special trust drafting
- Asset protection
- Divorce protection
- + More
Educating Your Heirs is Key
Although a legal estate planning document can assist in protecting the inheritances of your heirs, there are considerations to think about. As an estate planning law firm in Schaumburg, IL, we tend to recommend our clients to talk with their heirs about any inheritance they are to receive. You might want to explain to them that their inheritance is theirs and should always remain as separate property. This can be followed up by talking to them about what separate property is and how to keep it as separate. A prenuptial agreement is one way to do this and should be strongly considered – especially if there are large inheritances at stake.
A Trusted Estate Planning Law Firm in Schaumburg, Illinois
We have decades of experience in estate planning matters, including trust administration, litigation, probate, and more. Our lawyers would be happy to listen to your situation and help you to understand your best legal options.
If you would like to protect the future of your heirs and are ready to take the right steps, consider speaking with an estate planning law firm in Schaumburg, IL, such as Bott & Associates, Ltd. Call us now for a complimentary consultation.