Hard work and dedication to providing for one’s family is the main goal for many people. As the years go by, the thoughts of what is going to happen when the sole provider is no longer around start to come into thought. In order to ensure that there is a proper legal plan in place, it is a good idea to hire a lawyer to take care of all the estate planning. There are many firms to choose from when looking for Estate Litigation Attorneys in Chicago IL.
As assets build up including things like real estate, pensions, retirement plans, and personal valuables, there needs to be a document stating what will happen to those items after the owner of them passes away. If there is no set plan, the family is likely going to end up in probate court for weeks, months, or even longer trying to figure out what to do with everything. Many times this can result in arguments that split the family apart for years. By having an appointed firm for Estate Litigation Attorneys in Chicago IL, this is a problem that is easily avoidable. The provider or original holder of the assets can make their wishes known while he or she is still alive. The lawyer will then put all of the desires into a legal document, and there will be no question on who gets what after the passing of that individual.
Wills, trusts, appointed guardians, and powers of attorney are all factors that should be included in the document. In the event the person is still living but is no longer able to make their own decisions, a power of attorney should be assigned to step in. This person will be the trusted individual who can make decisions on that incapacitated person’s life. Her or she will be aware of any advanced medical directives that are in place, and they will be able to make both medical and financial choices within the limits of the law. Make sure to inform the whole family of what the future plans are for any life so there are not any hurt feelings or problems with who has been chosen when the time comes. Visit the website Blocher-law.com for more information on estate planning. You can also visit them on Facebook for more information.
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