Wills & Estates
Wills & Estates
When you think of wills, trusts, and other estate planning tools, you may be under the impression that these items are for the wealthy only. You may have little assets and even fewer family members to give these possessions to in the event of your death. You do not need to worry about estate planning, right? Wrong. Everybody can benefit from an estate planning tool. When somebody dies without a will—also called dying intestate—the estate goes into probate. A judge will then decide who gets to have that person’s assets. The probate process is costly, which is why it is better off to have at least a will in place. In addition, your possessions may not go where you intended. Your beloved car may go to the sister you have not spoken to in years. It is important to meet with a wills and estates attorney today regarding your estate planning. Contact Forst Law Offices in Orland Hills now.
Making an Estate Plan
A will or trust can help provide for children and even pets. You can decide whom you want as a guardian to take care of your children should you die before they reach adulthood. If you have pets that may outlive you, you can arrange for their care in a trust. If you do not, and a family member does not provide for their care, your beloved pets could end up in an animal shelter. They could even be euthanized.
A will could also provide care for a disabled child. If your child relies on you for constant care, ensuring that he or she has enough money to survive in the event of your death can provide for an easier transition.
An estate plan may include several aspects. It primarily includes inheritances and details who gets what when the person dies. It may include a living will, which specifies end-of-life care. If you want to be kept alive to the fullest extent possible or would rather not be resuscitated if are near death, then this should be specified in your living will.
An estate plan may also include life insurance. The proceeds can be used to pay for final expenses as well as any debts you have. The remainder can be used to replace your lost income and care for children and other family members.
Get Help From a Wills and Estates Lawyer Today
Nobody wants to talk about death, but being aware of the fact that it can happen to you at any time should motivate you to think about your future, especially if you have minor children and significant assets. Many celebrities have died without wills, leading to nasty estate battles. Even if you are not rich or famous, you and your loved ones will benefit from your planning.
Everyone should have a will or trust in place so that assets are distributed per their wishes. Get your affairs in order with help from wills and estates lawyer Richard J. Forst from Forst Law Offices. He can assess your situation and help you find the right type of estate plan to fit your needs. Get started by filling out the online form or calling his Orland Hills office at 708-949-6440.
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