Estate Planning Professionals Arlington Heights, IL
Estate planning professionals Arlington Heights, IL residents, depend on can assist you with all of your estate planning needs. Estate planning is essential for many reasons, and critical for people of all walks of life, not just the wealthy. Estate planning can be a complicated process, with several elements that will need to be included. You may be wondering whether you can create an estate plan without the assistance of a lawyer. Don’t put your estate or your final wishes at risk; choose the services of Bott & Associates, LTD, estate planning professionals in Arlington Heights, Illinois, to ensure that no detail is left out of your estate plan.
Why is Estate Planning Important?
The idea of estate planning leaves many to believe that such a plan is for those who have excessive assets. However, be aware that creating an estate plan is not just reserved for the wealthy. Our Arlington Heights, Illinois estate planning professionals share that, for many, estate planning is critical for several reasons:
- Allows you to outline your wishes in the way that you want them
- Helps to increase the inheritance that beneficiaries are entitled to
- Takes estate taxes into consideration to ensure that your estate does not pay more than it should
- Makes sure that you have a clearly defined and valid plan in place
- Gives you the ability to appoint a guardian to care for your children and allows you to create a plan for their care
- Reduces the risk that your family will experience conflict
Taking the time to develop your estate plan doesn’t have to be difficult, especially with Bott & Associates, LTD, estate planning professionals in Arlington Heights, Illinois, by your side. We can make sure that your estate plan outlines every detail so that your final wishes can be carried out in the way you would have liked.
Elements Included Within an Estate Plan
When many consider planning for the future, it’s essential to be aware that creating a plan extends far beyond developing your last will and testament. There is so much more to consider. In some cases, aspects of your estate plan might also include plans for when you are still living. Our estate planning professionals Arlington Heights, Illinois, residents depend on shares that an estate plan can incorporate several elements:
- The Last Will and Testament
- The Letter of Intent
- Medical Power of Attorney
- Financial Power of Attorney
- Beneficiary Designations
- Guardianship Designations
While this may seem overwhelming, it doesn’t have to be. At Bott & Associates, LTD, our estate planning lawyer in Arlington Heights, IL, can help you develop an estate plan that is clear and keeps your best interests in mind.
Choosing Bott & Associates, LTD
Our Arlington Heights, Illinois estate planning professionals know that you may be wondering whether you can develop an estate plan on your own. While you may have the ability to do so, it’s not recommended as there can be several risks involved. Why take the time to develop a plan that does not incorporate all of the necessary elements? Or worse, is not validated by the courts. Choosing Bott & Associates, LTD provides you with experienced professionals who can offer you and your family the peace of mind that you and your family deserve. While there are several online DIY estate planning tools available, they aren’t recommended. Ensure that your plan is something that provides your estate with the proper precautions for the future, contact our Arlington Heights, Illinois estate planning professionals as soon as possible.
Estate Planning Professionals Arlington Heights, IL Families Can Rely On
Are you wondering whether or not you need an estate plan? Perhaps you have one, but are unsure if it protects your heirs against a divorce or litigation. Calling our estate planning professionals in Arlington Heights, IL may be a good idea. Reach out to Bott & Associates, LTD., today.
When you leave assets or any inheritance to your heirs, you might expect them to be mindful of things. However, as diligent as they may be, in terms of ensuring your estate is handled properly, they could still be vulnerable to claims on the inheritance.
Divorce, creditor claims, long lost relatives, business complications, and judgements could all impact an estate. While this might happen through no fault of your heirs, should they be careless with the estate, the risk of a mistake increases. As an estate planning lawyer Arlington Heights, IL has to offer might explain to you, it is possible to reduce the possibility of an estate through the utilization of various tools. Because you may have your own unique needs, we would invite you to reach out to Bott & Associates, LTD for personalized advice.
How You Can Protect Your Heirs’ Inheritance
When it comes to your estate and your heirs’ inheritance, you may have a number of concerns. For example, what if your grandchild uses their inheritance to purchase a property held in both their name and their spouses? Should a divorce occur, they could lose this asset. Or, what if you have concerns about a long lost relative trying to claim a piece of the estate? As estate planning professionals in Arlington Heights, IL, we often recommend trusts to avoid any complications. Trusts can include a trust under a will or an irrevocable trust. In general, you will require a lawyer to assess your situation and let you know what will be your best option.
Bott & Associates, LTD., offers a number of different services, including:
- Estate planning
- Estate administration
- Divorce protection
- Asset protection
- Revocable trusts
- Irrevocable trusts
- Living wills
- Specialized trusts
It can be easy to push estate planning to the back of your mind. You might think that you can take care of things at a later time or when it’s more convenient for you. While we would hope that you have a long, fulfilling life, unexpected events can occur. You don’t want to leave your heirs vulnerable to the many complications that can arise. Failure to have an estate plan could result in:
- The inability to choose how your assets are divided
- The potential of a conflict to arise
- A risk of not having a guardian appointed to care for any children or disabled adults
- A lack of guidance in the event you are incapacitated
When a person dies, the family will be left to navigate probate or the estate administration process. Without an estate plan, the challenges that arise could be enormous and very strenuous. Mitigate the chance for any complications to arise. Call our estate planning professionals in Arlington Heights, IL today.
Bott & Associates, LTD knows that developing an estate plan can be easy to put off for another day. However, with our assistance, we can help make the estate planning process as pain-free and straightforward as possible. Fret no more. Please take action today with the experience and guidance that our estate planning professionals in Arlington Heights, Illinois, can provide.