What an Estate Planning Attorney Assists With
Planning to transfer assets after death is an important step in ensuring your family’s security. An estate planning attorney helps simplify the process.
An estate plan is intended to preserve the most wealth for the intended beneficiaries. The estate includes the total property owned by an individual. This includes real estate, cars, home items and bank accounts. People commonly select wills and trusts to designate their wealth after death.
Estate planning is mainly naming who will receive your things after you die, but there is more to it than that. Wills and trusts should also:
- Include a Health Care Power of Attorney which provides instructions for how you want to be cared for if you are disabled before death
- Include a Business Power of Attorney which provides instructions for how you want your business affairs handled if you are disabled before death
- Name a guardian for minor children
- Provide for special needs family members without getting in the way of government benefits
- Provide support for loved ones who may not be able to handle large sums of money or need future financial protection
- Include life insurance, disability income insurance and long-term care insurance to help cover your expenses if you become disabled or severely ill
- Include the transfer instructions for your business due to a retirement, disability or death
- Be an evolving process that is updated throughout your lifetime
Who is Estate Planning For?
Estate planning is for every adult, at any life phase. You can begin with the basics, like term life insurance and a will, and develop your planning as your estate grows. A skilled attorney can provide the guidance you need in accordance with the law, and ensure all documents are properly prepared.
Without an estate plan, your money and property will be distributed according to state probate laws. Creating a will and trust ensure that your assets will be divided as you want them to be.
Contact Kepple Law Today!
Kepple Law works with clients and their businesses in the communities of Peoria, Pekin, East Peoria, Morton, and Washington. Our professional attorneys are to here to help you with this vital step in your family’s future security. Contact us today to discuss your unique legal needs.