Estate Planning Lawyer Mount Prospect, IL
An estate planning lawyer Mount Prospect, IL families turn to at Bott & Associates, LTD. understands that the topic of planning for after death can trigger emotions. It is a task that is best approached with support from a legal professional who understands estate planning. Despite what many people may think, you do not need millions of dollars in the bank in order to need an estate plan. In fact, even those with more modest funds and assets can benefit from planning for the future.
Think of it this way, an estate planning lawyer in IL from Bott & Associates, LTD. will help you organize what you own and write down wishes for how you want your legacy to be given to loved ones after you have passed on. Without a proper estate plan, your assets could get caught up in probate court, causing more stress and frustration for beneficiaries.
Qualities to Search for in Your Lawyer
It is important that you hire a lawyer who is experienced in overseeing estate plan documents. If you attempt to establish an estate plan without legal guidance, it increases your odds that your will be disputed later on. The last thing you want is to write an estate plan that is too broad that it leaves room for misunderstandings and confusion among beneficiaries. A Mount Prospect estate planning lawyer from IL can help guide you if it is your first time writing an estate plan, or help you make changes if life events have caused your current draft to be inaccurate.
Other qualities to look for in your estate planning lawyer include:
- A professional who is up-to-date with the laws for your state and how to create valid estate planning documents.
- Devotes their legal practice to estate planning and other types of family-related law.
- Makes you feel comfortable and not judged when sharing information about your finances, wishes, and other intimate details of your life.
Creating a List of Assets and Beneficiaries
When consulting with an estate planning lawyer in Mount Prospect at Bott & Associates, LTD., one of the first tasks we may have you do is create a list of your assets and beneficiaries. Assets include both tangible and intangible things such as property, insurance policies, retirement plans, stocks, bonds, jewelry, art collections, and sentimental items. Then, write a list of people that you care about the most who you would be honored to have a portion of your legacy after you have passed on. These could be people such as your immediate family, close friends, and charity organizations you believe in.
Contact Bott & Associates, LTD. Now
Do not wait another day without having a legally-binding estate plan. We can help you from start to finish, and there is no risk in calling today as we offer free brief initial consultations. Call Bott & Associates, LTD. to speak with an estate planning lawyer in Illinois now.
Benefits of Hiring an Estate Planning Lawyer
Creating an estate plan can be very complex, so you do not want to go at it on your own. It is important to have a qualified estate planning lawyer Mount Prospect, IL residents trust on your side. Here are some of the benefits of hiring an estate planning lawyer.
- Estate Planning Is More Than Just a Will: Many people falsely believe that an estate plan just consists of a will. While a will is an important aspect of an estate plan, it is not the only legal document you should include in your plan. An estate planning lawyer can assess your individual situation and advise you on the documents that best fit your needs. For example, if you have minor children, your lawyer may suggest including a guardian designation in your estate planning documents.
- It Is Easy to Make Errors: Estate planning documents contain legal jargon that the average person may not understand. If you make even one error on these documents, it can make them invalid. That’s why it is important to have a skilled estate planning lawyer in Mount Prospect, IL on your side. He or she can help you draft these documents without any errors.
- Your Estate Plan Will Need to Be Updated: It is likely that your estate plan will need to be updated at least once or twice in your lifetime. For example, if you have a child or get divorced, you will need to make changes to your plan. An estate planning lawyer will help you do this properly.
- You Will Have Peace of Mind: When you are prepared for the future, you can rest easier at night. An estate planning lawyer will work hard to create a plan that reflects your wishes and answer any questions you may have. If you have any concerns about your plan, you could just give your lawyer a rin.
- Your Documents Will Comply With Current Law: Estate laws change from time to time. If you do not have a background in this field, you might know when these laws change. An experienced estate planning lawyer in Mount Prospect, IL, on the other hand, has extensive knowledge about these laws and will make sure your plan complies with them.
- You Will Save Time: Drafting an estate plan can take a lot of time, especially if you don’t have any legal experience. If you work a full-time job and have a family to take care of, you might not have all of this extra time. That’s another reason why working with an estate planning lawyer is so important. He or she will take care of all paperwork, so you can have more time to tend to your responsibilities.