Life is a journey. It starts with your birth and ends with your death. On the way, you may accumulate property, get married and have children. If you get ill or incapacitated along the way or simply die, you want to make certain that your wife (or wives), children and business (and business partners are taken care of appropriately. To ensure this happens correctly, you need an estate planning lawyer. If you live in Libertyville, IL, this is the most logical and practical approach to take.
What Is Estate Planning?
Estate planning is considered to be the preparation of the individual’s wealth and assets prior to their death. The intent of estate planning is to make certain that, upon the death of the individual, the transfer of all relevant items is handled appropriately according to the law and the individual’s wishes.
An estate may consist of any and/or all of the following:
- Assets
- Debts
- Life Insurance
- Pensions
- Personal Belongings
- Real Estate
- Vehicles
To ensure the items end up where the individual wants them to, it is essential to hire an estate planning lawyer.
What Does an Estate Planning Lawyer Do?
An estate planning lawyer has one major task. This is true whether he or she practices in Libertyville, IL or Los Angeles, CA. He or she is to make certain that the wishes of their client are met upon their demise. While estate planning can include such things as healthcare including whether you want a do not resuscitate order to be followed or for the medical profession to follow extraordinary measures, its focus is on preserving and distributing the assets of the estate.
At the same time, estate planning also involves naming an executor. Establishing a guardian if there are minors is another potential task. An estate planning lawyer may also arrange the basis for funerals and ensure that the beneficiaries on all documents are kept up-to-date.
To accomplish all pertinent aspects, an estate planning lawyer will help his or her client with such things as:
- Wills
- Trusts
- Powers of Attorney (POA)
- Life insurance trusts
- Special needs trusts e.g. for tax purposes
- Living wills
- Health care directives (Medicaid planning)
The law firm and its attorneys will work closely with the client. The purpose of the estate planning lawyer is to make sure the plan is both inclusive and legally rendered.
Contacting an Estate Planning Lawyer
If you have assets and other related items in Libertyville, IL, you may want to consider what is going to happen to it after you die. If this is your concern, do not hesitate. Contact someone who can make it possible for your business and/or other valuable assets fall into the right hands on your death. This would be an estate planning lawyer.
If you live in Libertyville, an Estate Planning Lawyer, will help make the transition for your loved ones easier after your death. The attorneys on staff Orlowsky & Wilson have both knowledge and experience in this and related areas. From estate planning to probate, they can help you plan ahead and your loved ones take charge. To learn more about their services, visit orlowskywilson.com.
