It's said that it is never too early to create a will, but it can be too late.
The law firm of Bolz & McCarty, LLC, in West Dundee, Illinois, counsels clients in the development and implementation of comprehensive estate plans. We assist individuals with everything from drafting simple wills to creating complex trust arrangements.
If you die without a will, you are said to have died intestate. The court appoints an administrator to settle the estate and distribute your assets according to Illinois law after all debts have been paid.
In Illinois, if a person dies without a will and there is a surviving spouse and one or more children, the spouse receives half of the estate and the children share the remaining half. Having a will gives you more control over your assets. Wills can be simple or elaborate documents that set forth directives of every imaginable kind. Generally speaking, they dictate who receives specific property, how minor children should be cared for, charitable bequests and more.
Trusts are separate legal entities that hold assets for you or for the benefit of others. Assets inside a trust are managed by a trustee who has legal responsibility for managing and overseeing trust proceeds in accordance with your wishes. The trust stipulates how your assets should be managed and how, when and to whom your assets will be distributed.
Helping With Powers Of Attorney And Will Contests
Creating a legal power of attorney is another common role of an estate planning attorney. This allows you to designate a trusted individual in your life with decision-making authority if you become incapacitated and cannot make decisions for yourself. Power of attorney may address the right to make decisions regarding finances, health care directives or guardianship.
Attorney Bolz also provides legal counsel and courtroom representation to heirs and potential heirs, beneficiaries, trustees, executors, personal representatives and third parties involved in a dispute over a will, a trust or an estate.
If you believe you were treated unfairly in a will or trust, or that there has been mismanagement of an estate, or if you are facing charges of mismanagement yourself, contact us. Our experienced Elgin wills and trusts lawyer will provide you with a complete assessment of your case so you can make informed decisions about how to proceed.
We always look for ways to resolve disputes efficiently and without litigation. If the matter cannot be resolved through negotiation, however, we have trial-tested attorneys who will meticulously prepare your case for trial and aggressively defend your interests throughout the process.
Call us or use our contact form to schedule an appointment. We welcome the opportunity to review your situation and recommend the best steps to accomplish your goals.