Some Key Reasons To Have An Estate Plan – Law Offices of Anthony R. Scifo – 847-628-8311
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 and that your wishes will be followed. A will allows you to make plans for distributing your property and assets after your passing and 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 but still permits you to keep managing your financial affairs in your lifetime. Also, this kind of trust allows you to plan for incapacitation and to avoid the delay and expense of probate after you die. Basically, a trust is a private document that doesn’t get filed in a probate court.
Planning for Incapacity
People tend to live longer these days, but many also experience some form of disability in their elder years. A good estate plan includes a power of attorney for healthcare, which means that you can name a dependable person to make decisions relating to your healthcare in the event you cannot communicate on your own behalf. This also permits you to name someone to manage your financial affairs if you’re incapacitated.
Talk with a Lawyer About Your Estate Plan – 847-628-8311
Protect Your Family Business
If you’re a small business owner, you know how much hard work it takes to succeed. With that in mind, an estate plan is needed for protecting your business partners and family members from the impact of your death. Specifically, it is important to select an individual who will assume leadership of your business.
These are just a few key reasons to create an estate plan. By using the services of our experienced law firm, you can shield your assets, provide for your family, and relieve them of the burden of making these tough decisions.
Count on our firm for all your estate planning and elder law needs – give our law offices a call at 847-628-8311 and schedule a free consultation today.