Everyone should have an estate plan customized for their family. Following a change in your family’s circumstances, like a divorce, updates to your plan are of critical importance. It is important for your intentions to be known so that loved ones and heirs are not forced to rely upon the default rules made by the State of Illinois for decedents who have no plan in place.
Creating your own estate plan is the best way to protect your family, minimize or eliminate Federal and State estate taxes, avoid private court, and ensure that your desires and objectives are carried out. Our estate planning process includes discussion and implementation of Wills, Health Care Powers of Attorney and Property Powers of Attorney. Trusts may also be desirable in certain situations. Attorneys at Manassa Hartman, P.C. are prepared to assess your situation and provide estate planning advice to make sure your family is protected.
Below is an Estate Planning Checklist of items to keep updated:
- Last Will and Testament
- Healthcare Power of Attorney
- Financial/Property Power of Attorney
- Disposition of Final Remains
- Consider a Trust
- Check your Beneficiary Designations (401(k) Plans, IRAs, Annuities, Business Interests, bank accounts, life insurance, etc.)
- Inform charities of bequests
- Naming your desired heirs