estate planning essentials
Chicago, IL Estate Planning
Some lawyers provide Chicago, IL estate planning services as part of a larger variety of services. Packages prepared by such attorneys rarely address the full breadth of issues or tax consequences that a person or family may face.
A dedicated Chicago estate planning attorney understands the disastrous consequences that inadequate or generic estate documents can have on a family. Chris Dwyer, an experienced and dedicated Chicago estate planning lawyer, can work with you and your family to make sure that your estate planning instruments meet your specific needs.
Common estate planning instruments
Chicago estate planning attorneys can help you protect the assets that make up your estate using several common instruments and techniques.
Wills
If you do not have a will to define your wishes regarding your estate after you passing, the government may make decisions about the distribution of your wealth with little or no input form your family. Wills are particularly essential if you have minor children or any kind of non-traditional family arrangement.
Living trusts
This is simply a trust you create with the help of an estate planning attorney in Chicago while you are still alive. It helps your family avoid probate litigation after your passing, as it lets your property pass pursuant to the terms of the trust, rather than your will.
Living trusts are particularly applicable for many people:
- Facing disabilities
- Owning property in other states
- Handling important privacy issues
Powers of attorney
Such documents appoint an agent to legally manage your legal or business affairs after your passing. It can specify general power of attorney or power of attorney specific to particular aspect of your estate. Durable power of attorney remains effective if you are disabled or incapacitated. Experienced estate planning attorneys in Chicago can guide you through all variations of these instruments.
Living wills
These documents state your intentions as to whether you life should be artificially extended when you are unconscious and terminally ill. These may be the most important documents that
Chicago estate planning lawyers can assist you with:
Probate litigation
After the death of a loved one, probate litigation may arise due to:
- A poorly or ambiguously written document
- Concerns about the mental capacity of the deceased
- Concerns about the appointed will administrator
Such issues usually require the services of an experienced Chicago estate planning attorney to resolve, and may include:
- Will or trust contests
- Competency disputes
- Actions to reform or construe wills and trusts
- Accounting actions
- Fraud or fiduciary misconduct claims
About the Author
Estate planning attorneys in Illinois
If you or a loved one requires the services of an estate planning attorney in Illinois, contact the offices of Chris Dwyer today, www.cdd-law.com.
Real Estate Investments has the potentials of Asset Base to deal with Lenders but?
EXIM or Direct Commercial Investments has the opportunity of ‘TURN OVER’
Of these two (2) fields which one constantly has prevailing economic endeavors and profitability.
Do you suppose GIFT OF ‘DIVINE’ VISION is ESSENTIAL in business
planning to stand unpredictable financial market’s investment miscalculations and / or calculations?
I pray for ‘divine’ vision everyday. Is it necessary for business success? No, but drive, mixed with a little grace is.
Both these areas of Real Estate Investing are profitable. Both are cyclical, just like everything has a season. Nothing is CONSTANT but Real Estate, even commercial, is reasonably consistent.
Divinity is a blessing. I’m satisfied to have attained some wisdom at 43.
Estate Planning With Nelson Simoes
Putting it away for a rainy day
Australians have taken to saving in a big way – but some options offer much better results than others, writes John Kavanagh.