Your Last Will and Testament, or simply will, is a foundational, instruction-based document that helps the probate court and your heirs to know what your wishes are after your death. A will is just one component of an estate plan, and for most people, it is the first step toward protecting their assets.
An Arlington Heights will attorney from Plan Forward Legal will help you create a legally binding will that protects your rights, communicates your needs, and meets all legal obligations. Our founder, Victoria Lozano, is an experienced Arlington Heights estate planning attorney ready to protect you.
What a Will Does for You
The creation of a will provides several core services that can then act like a set of instructions for the court after your death. Your will will address three key elements after your death:
- Who will inherit your estate? These are your beneficiaries, who are not necessarily the heirs the court would pass your estate to without a will.
- Who will administer your estate? Your will names an executor of your estate, or the person who will follow the rules you create to uphold your wishes.
- Who will protect your children? Your will should incorporate clear guidance on how your minor children or other dependents will receive care and support if you die.
Wills control assets titled in your name (and only in your name) during your lifetime. A will only goes into place after your death and has no legal implications during your lifetime. Most estates with only a will still require probate, though the outcome is clearer when a will is in place.
Why Choose an Arlington Heights Will Lawyer
Today, it is easy enough to find services to create a will online. While, in the simplest cases, this may be good enough, that is rarely the case. There are several benefits to hiring a will lawyer in Arlington Heights to help you create and manage your will:
- An attorney understands the nuances of Illinois will laws (760 ILCS 3/ Illinois Trust Code). This includes how to ensure the will remains valid throughout your lifetime.
- Your lawyer helps you create a will that meets your objectives, not a blanket statement. The most effective will is one tailored to your specific situation based on your goals, assets, and limitations.
- Your lawyer will provide you with honest and transparent insight. If what you hope to accomplish through a will does achieve your goals, an attorney will tell you what other solutions may be available to you.
This is an incredibly important decision-making process. Having a will lawyer in Arlington Heights to help you put your thoughts, needs, and concerns on paper and ensure they are legally secure is a significant responsibility. Hire an attorney who has a practice focused on will and estate planning.
What a Will Lawyer Near Me Does for You
When you meet with our will attorney, we will have an open, honest, and comprehensive conversation. During this initial conversation, we will review your financial situation, including your assets and any expected future assets. This conversation will also focus on what you want to happen with those assets, including who may receive them and the terms and conditions governing inheritance.
That initial conversation allows your attorney to go to work for you. We will consider various tools to structure your objectives, including a trust, which may help minimize risk. Our lawyers will discuss a range of legal strategies to minimize tax liability, protect business partnerships, and navigate complex trust laws.
Once we create a will for you, you will verify the details and inform those you wish of the existence of the will. As your attorney, we can maintain your will over time and make adjustments as life events occur, including divorces, marriages, births, and changes in your wishes. As a will attorney near me, we will work to ensure your best intentions and wishes are carried out in accordance with state law.
The Importance of Updating Your Will Over Time
A will is a document that can change and adjust over time as your life does. We encourage you to meet with your will attorney in Arlington Heights at least once every other year or so, or whenever a life event occurs, to review the terms listed in your will. Make changes or solidify the decisions you already made. Plan Forward Legal can help with that process.
Why You Need a Will and Trust Attorney Near Me
As a will attorney, we can create and manage a will for you, but we can also take those decisions and create more reliable, private, and decisive actions through a trust. Trusts become their own legal entity, which means when you place assets in them, they do not have to go through the probate process. That means the trust carries out your wishes without those details being part of the public record.
Our will and trust attorney will review the available trust options and clarify which form may be best for you at this stage of your life. A revocable trust is often beneficial for younger individuals who may wish to modify their trust terms and conditions over time. By contrast, an irrevocable trust, once created, is permanent, meaning those assets you fund it with are no longer considered your property.
Trusts are an important part of any estate plan because of their ability to shield your assets and ensure your wishes are carried out. While a will can provide direction, the sheer reach of the law of what is included in a will is much shorter than what a trust can do for you. Meet with our attorney to discuss the specific elements that could matter most in your situation.
Set Up Some Time to Talk to Our Will Attorney in Arlington Heights Now
An Arlington Heights will attorney is an advocate you need by your side. Whether you have significant wealth, dependents, or specific goals for your own health and future, having a will makes sure the court knows what you wish to occur. Set up a consultation to review your will with Plan Forward Legal.