No matter how old you are, if you have children or if you have property that you want others to have if something happens to you, then you need a will. To go over your estate and make decisions about how to distribute property and money and who should have custody of your children, you can consult an estate planning lawyer in Loves Park, IL. Here are some of the decisions to make with your lawyer.
Name a Trustee
When you’re have a will written, you will need to decide who to name as trustee. The trustee will handle the tasks associated with finalizing your estate such as paying the final bills, contacting beneficiaries, and distributing the assets as written in the will. To get advice from an estate planning lawyer that’s close to Loves Park, contact Hampilos & Associates, Ltd.
Open a Trust
An estate planning lawyer can help you decide whether to have a living trust to prevent probate after you pass away. If your will is tied up in probate, it could take months, sometimes years, for your beneficiaries to get the assets they were left. A trust lawyer can explain trusts and a probate lawyer can explain how the trust can protect the assets from going into probate to help your family.
Change Documents for Divorce
If you’re considering a divorce, your will and trust should be rewritten with the help of your estate planning lawyer. He or she can bring in a divorce lawyer from the same firm to help represent your side in the divorce and protect your assets. However, they will need to rewrite the documents prior to the beginning of divorce proceedings; otherwise, they cannot do so until everything is finalized.
Making sure that your family’s future is secure is important and a team of attorneys can help you take care of them.
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