Estate Planning Lawyer Near Me (Illinois)
There are a lot of individuals who don’t have a will because they simply don’t understand why they need one. If you die and you do not have a will, the state will determine how your property and assets are distributed. This is especially concerning when it comes to things or people that are very important to you, so it’s essential you consider a will no matter your age. The following are some reasons why. For more detailed information, contact an estate planning lawyer near me (Illinois) from Bott & Associates, Ltd.
Individuals with minor children should always have a will in place so if the parents pass away, their children will be taken care of by people they trust. When you are considering whom to ask to be your children’s guardian should you die prematurely, you should think about people who are already close to your children and who they would feel comfortable with. You should take into consideration their belief system and whether they will raise your children the way you would want them raised.
You may also want to consider the couple’s financial situation and whether they can hold down a job while caring for extra children. You should choose a guardian that will love your children as their own.
When you die intestate, or without a will, there is an order to distributing your assets and it varies by state. It typically begins with your spouse, children, siblings, parents and so on until there is a surviving relative that receives what you have left behind. If you have godchildren, stepchildren or friends you want something left to, they will not receive anything.
To ensure the proper beneficiaries receive what you would like them to receive, you should write up a will. You will need to give specific names of people you wish to inherit specific assets. You could also include instructions on distributing your assets to specific organizations such as a favorite charity. An estate planning lawyer near me (Illinois) can help.
In your will, you can designate an executor of will. This is the person you have trusted to carry out your wishes after you have died. The executor will handle all your financial affairs, ensuring debts are paid, accounts are closed and remaining assets are given to the individuals you have designated. An estate planning lawyer Arlington Heights, IL clients recommend can explain the factors that you should consider when choosing an executor.
Getting Started with an Estate Planning Lawyer Near Me (Illinois)
An attorney is a great place to start when you want to plan your estate. Your life is important, and you should have the final say in what happens to everything you worked so hard for. Contact an estate planning lawyer near me (Illinois) from Bott & Associates, Ltd. today to get started with your will.