After diligently working throughout your life to provide for yourself and your loved ones, you undoubtedly want to ensure the proper distribution of your assets after your passing. Implementing an estate plan can help protect your assets and your family’s future.
At Crosby Law Firm, our estate planning attorneys actively work to draft legal documents that honor our clients’ wishes and protect their families’ best interests. Two of the most important parts of estate planning involve creating a will and potentially a trust. To facilitate the process, we handle the legal steps required to draft these crucial documents.
The thought of drafting an estate plan might seem daunting and even stressful. Nevertheless, with support from our experienced trust and will lawyers in Belvidere, Illinois, preparing for what lies ahead is simple.
What Is a Will vs a Trust?
A will guarantees that your assets are distributed as you wish after your death. This can include everything from bank accounts, stocks, and real estate, to life insurance policies and more. It also details care plans for any minor children and addresses outstanding debts. A will must be in writing and adhere to all legal standards to be valid.
There is also another legal document known as a living will. It allows you to express your preferences for medical treatment and life-sustaining measures if you become incapacitated and can’t express them yourself. It ensures healthcare professionals and family respect your decisions regarding medical care and related matters, such as organ donation. You can also appoint a medical power of attorney (POA), who can make medical decisions on your behalf should you become incapacitated.
A trust shares some similarities with a will. A trust can be used to facilitate the management of your assets either during your lifetime or after death. This fiduciary arrangement allows a designated trustee to manage and administer assets to a beneficiary on your behalf (the grantor). The precise terms of a trust depend on which assets you intend to transfer and how.
Trusts offer detailed control over your estate, allowing you to dictate the timing and circumstances surrounding asset distribution. You can also prevent your inheritance from going to a financially irresponsible party, bypass the probate process, decrease estate taxes, and more.
Why Hire a Wills and Trusts Attorney
Grasping the benefits and drawbacks of wills and trusts is essential to properly secure your legacy. Drafting these documents involves addressing numerous legal and financial subtleties to fully meet your expectations.
Regardless of your estate’s size, its effective management offers peace of mind to you and your family. Collaborating with a seasoned wills and trusts lawyer enables you to protect your assets in the way that best suits your needs.
Our attorneys in Belvidere, IL, provide steadfast support throughout the drafting of your will or trust. From initial discussions to final administration, we handle your assets with great care while proactively protecting your best interests.
Wills, Trust & Estate Planning Lawyers
Estate planning transcends mere paperwork. It enables you to preserve your legacy and fulfill your long-term wishes for your loved ones.
At Crosby Law Firm, our lawyers in Belvidere, Illinois, for wills and trusts are committed to honoring your preferences during and after your lifetime. With over 150 years of combined experience, you can depend on our knowledge and dedication.
Contact us today to schedule a free initial consultation and begin securing your future.
