We have been preparing estate plans for families for over 30 years. Since we have been doing this for so long, we now have the honor of preparing estate plans for the next generation of our clients’ families. Although the titles of the documents themselves may be common, we customize each and every plan we prepare based on the unique facts and circumstances that we gather while getting to know our client. As a result, no two estate plans are alike.
Estate planning is one of the most important steps any person can take to ensure their final health care and property wishes are honored. An estate consists of all property owned by you at the time of your death, and includes bank accounts, stocks and securities, life insurance policies, real estate, and personal property. Estate plans ensure property will be transferred quickly and with as few legal issues as possible to your loved ones. Estate plans can also avoid probate, which can be a long and expensive process, as well as minimize the amount of inheritance taxes that will have to be paid by your estate.
An estate planning attorney handles all documentation that is important before and after your death. The most common documents are:
Last Will and Testament
Power of Attorney for Property
Power of Attorney for Health Care
Supplemental Needs Trust
A Supplemental Needs Trust might also be recommended if you have a loved one with special needs. This type of trust ensures that your family member can continue to receive their public benefits, while you provide for the things that the public benefits do not cover.
If you already have an estate plan in place, it is important to have your documents reviewed periodically. If you have recently experienced a loved one passing, a medical diagnosis, a disability, a divorce, or your documents are over 5 years old it is important to have your existing estate planning documents reviewed.
Do You Have Children In College?
We recommend that young adults, including college students, execute Powers of Attorney for Property and Health Care. One never knows what is going to happen in life and these documents can benefit anyone 18 years old or older. Powers of Attorney are the documents that allow a person to nominate who they want as their agent in case they need assistance with handling their health care decisions or financial affairs.
Illinois Estate Planning Attorneys
Our legal advisors utilize a wide range of estate planning tools based on your requirements.
An estate planning attorney will determine best combination of tools that are fit for your situation. We achieve this by carefully examining your assets, income and other important details. We will design an estate plan that will safeguard your property as it transfers onto the next generation. The transfer will be achieved in a manner that you prefer minimizing any possible delay, taxes, and administrative costs. When you choose us, you can be assured that we will have your goals as a main priority.
AuBuchon & Pennuto Law are estate planning attorneys serving Cook County, DuPage County, Kane County, Kendall County, & Will County. We have two office locations to better serve you. Visit our Estate Planning Attorneys at our Plainfield, Illinois office or our Warrenville, Illinois office.
Email us or call us at 630-412-0412 for a consultation with our Estate Planning attorneys.