Elder Law Attorney Streamwood IL – Law Offices of Anthony R. Scifo – 847-628-8311
Some Key Benefits to Estate Planning
Control of Your Finances
With a sound estate plan that starts with a will at the minimum, you’ll know that at least your assets will have protection. A will allows you to make plans for the distribution of your property and assets after your passing. In addition, a will enables you to name your beneficiaries.
Safeguard Your Privacy
Some people are not aware that a will is actually a public document that has to be probated in a court room. In some cases we may suggest that our clients create a revocable living trust. This helpful estate planning tool takes over ownership of your assets and property. However, it still permits you to keep managing your financial affairs in your lifetime. Also, a will allows you to plan for incapacitation and avoid the delay and expense of probate after you die. Basically, a trust is a private document without the need to file it in a probate court.
Planning for Incapacity – Elder Law Attorney Streamwood IL
People tend to live longer these days, but many also experience some form of disability in their elder years. Certainly, a good estate plan will include a power of attorney for healthcare. It enables you to name someone to make healthcare decisions for you if you cannot communicate on your own behalf. This also permits you to name an individual to handle your financial affairs if you’re incapacitated.
Protect Your Family Business
If you’re a small business owner, you know how much hard work it takes to succeed. A good estate plan is useful for protecting your business partners and family members from the impact of your death. Specifically, it is essential to delegate an individual who will assume leadership of your business.
Law Offices of Anthony R. Scifo – Free Consultation – 847-628-8311
These are just a few key reasons to create an estate plan. By using the services of our experienced law firm, you can safeguard your assets and provide for your family. An estate plan helps relieve them of the emotional burden of making these tough decisions.
Count on our firm for all your estate planning and elder law needs.
Elder Attorney – Protecting Older Adults Against Financial Abuses – Call 847-628-8311 to Schedule a Free Consultation Today
It’s simply a fact of life that family members will age and possible serious health problems. The need for establishing an estate plan becomes clearer with each passing season. Being proactive can make all of the difference. The sooner you reach out to a knowledgeable estate planning lawyer, you’ll be in a better financial position.
Our law firm can help your family obtain a fair outcome whether or not there’s an estate plan in place. We have vast experience in the areas of elder abuse, powers of attorney, probate and mental health laws. Without a doubt, we work hard to get the very best results for our valued clients.
Leading the Fight Against Abusive Caregiver Practices – Elder Law Attorney Streamwood IL
Frequently, a positive connection develops between professional caregivers and the people they care for. These connections can serve to lift the spirits of a loved one with limited ability to take care of themselves. Unfortunately, there are some caregivers who use the relationship as a means of securing benefits that are not rightfully theirs.
Elder Law – Law Offices of Anthony R. Scifo – 847-628-8311
Sudden changes to wills or trusts that name a caregiver as the sole beneficiary demand careful examination. Our law firm has helped many clients who had a suspicion that their older family members were being financially exploited. The Law Offices of Anthony Scifo handles issues including:
- -Improper use of a senior’s assets, money or property.
- -Improper management of trusts, estates, and guardianships.
- -Misuse of power of attorney. Applicable to both family members and caregivers.
We are here to help families utilize available state resources and give appropriate legal support required to handle the numerous issues that may appear in a case of suspected elder abuse. If you have a loved one that has been pressured into making a decision that financially benefits a caregiver, our firm is here to help you fight for their rights and safeguard their future.
Asset Recovery Practice
For all legal matters relating to property, funds, and assets, don’t settle for anything less than the expertise of a seasoned elder law litigation attorney. At the Law Offices of Anthony R. Scifo, we have years of relevant experience in actions related to issuing a citation to discover or recover in addition to:
- -Improper asset allocation.
- -Investigation of asset mismanagement.
- -Misappropriation of funds by the executor of an estate.
- -Breach of fiduciary or breach of trustee duty.
- -Identity theft.
Often, cases like these can involve numerous transactions and lots of paperwork. Our firm has a demonstrated record of success in the pursuit of those parties who attempt to defraud elderly people. We are steadfast in our resolve to bring all responsible parties to justice and to recover assets for the rightful individuals. If you need assistance in any of the issues we mention here, call our offices to schedule a free consultation.
Lawyer for Wills and Estate Planning – 847-628-8311
We’re here to serve clients from throughout the Chicagoland area including Elgin, South Elgin, Barrington, Rolling Meadows, Carpentersville, Lake In the Hills, Crystal Lake, Geneva, St. Charles, Batavia and surrounding communities. In addition to our expertise in elder law, our practice areas wills and estate planning.
When it comes to smart estate planning, it’s helpful to understand the differences between probate and non-probate assets. Probate is simply the procedure courts use to disperse your property after your death. Some assets are distributed to your heirs by the court, which are known as probate assets. Other assets – non-probate assets – may go straight to people you name as your beneficiaries without going through the court. The probate procedure includes issues like filing a will, naming an executor, collection of assets, payment of fills, filing taxes, distributing property and filing a final account. Some people elect to avoid this process, which can be time consuming, by having non-probate assets only.
Probate assets are those owned by the person who has died such as:
- -Real property titled in the decedent’s name.
- -Personal items like jewelry or vehicles.
- -Bank accounts.
- -Interests in a corporation or in a limited liability company.
- -Life insurance policies.
Non-probate assets can include:
- -Property held jointly.
- -Bank accounts or brokerage accounts held jointly that have payable on death or transfer on death beneficiaries.
- -Properties that are held in a trust.
- -Life insurance that lists someone besides the decedent as a beneficiary.
- -Retirement accounts.
Need to Update Your Estate Plan? Call 847-628-8311
Smart estate planning must consider whether property is probate or non-probate. Basically, a will does not control distribution of non-probate property. Elder Law Attorney Anthony R. Scifo can provide guidance and help you verify the ownership of your assets to make sure that any jointly owned property you have will be dispersed as you want it to be. Why wait to address issues that can impact you and your loved ones so much? Contact our law offices today at 847-628-8311 to schedule a free consultation on the details of your probate or probate litigation.