While it’s great that you have a last will and testament in place, there’s often more than should be done to ensure the estate is in order. When you sit down with an estate planning attorney in Rockford, IL, make sure these three topics are included in the discussion.
Do you need any of the various types of powers of attorney? Depending on what closed relatives you have and your relationships with them, you may want to ensure someone else makes medical and other decisions when it’s not possible for you to do so. Putting those documents in place will ensure your wishes are clear, even if you can’t express them yourself.
Have you thought about trusts for the kids, or anyone else that you want to care for in the future? The attorney can go over the different options for trusts, how they work, and what they would mean in terms of ensuring those loved ones are financially secure.
Don’t overlook discussing how to ensure certain assets don’t have to go through a long probate process. For example, do you know how to designate beneficiaries on your bank accounts? Doing so means those individuals can provide the bank with proof of identity and a copy of your birth certificate, then have access to the funds. Think of how that money could help those closest to you while your estate is being settled.
There are other aspects that would be easier to identify and implement with the aid of an estate planning attorney in Rockford, IL. With that attorney’s help, the odds of overlooking something important will be much lower.
For more information, please contact Crosby & Crosby LLP Attorneys at Law today.
