Estate Planning Lawyer Serving Joliet Illinois and Will County
Our firm works with individuals and their families to preserve, manage, and transfer their assets by creating comprehensive estate plans tailored to meet the overall goals of each client. Depending upon a client’s individual goals and needs, estate plans developed by the firm may involve not only wills and trusts, but also Powers of Attorney.
We understand this this can be a difficult conversation to have, but you can rest assured that your family, property, and specific wishes will be protected if you become severely injured, ill, or pass away.
At the law firm of Nemeth & Oedzes, we offer a wide range tools for our clients to utilize to formulate their estate plan. These estate plans must be properly drafted to be legally binding and assist loved ones to avoid potential legal disputes.
Wills & Trusts Crafted by a Joliet Illinois Estate Planning Attorney
Wills are beneficial because they:
- Allow you to appoint a guardian/guardians for your children
- Can help you protect your business
- Can transfer assets to loved ones, charities, etc.
If you do not create a will prior to your passing, your assets may be transferred according to the laws of the State of Illinois. A will also allows you to appoint a guardian for your minor in incapacitated child/children. If you pass away without appointing a guardian, the State will be forced to select an adult to care for your children. If you own your own business, a will can ensure your company passes to an heir or co-owner you trust.
Trusts are beneficial because they:
- Distribute assets to loved ones without the cost and delay of probate
- Dictate how your assets are distributed after you pass away
- Have positive tax benefits depending on the value of your estate
There are various types of trusts, and each have their own positives and negatives. If you are thinking of establishing a trust, speak with one of our attorneys to determine which type of trust is best for you.
Powers of Attorney Executed with the Assistance of Will County Lawyer
A Power of Attorney is a written and signed legal document that allows someone else to act in your place for a variety of circumstances and transactions. These documents remain in full force and effect even after you become unable to make your own decisions. The Power of Attorney appoints an agent, who you choose, to act on your behalf. Your agent is responsible for handling many of your personal and financial responsibilities.
Powers of Attorney and a Living Will are beneficial because they:
- Allow you to designate a trusted individual to make certain financial transactions
- Share medical information and consult on medical decisions to help provide the best care
- Make your wishes clear as to your end of life treatment and care
Powers of Attorney can be vital in obtaining the medical care you desire and allow for financial transactions to provide for you and your family while you are incapacitated.
Contact our firm based in Joliet, Illinois for a free consultation to ensure that your estate plan is properly designed and crafted. To learn more about estate planning tools which are available to you, please contact us today at (815) 222-0381.