Kendall County Estate Planning Attorney

Yorkville Estate Planning Lawyer Serving Kendall County

It is always important to plan for the future. Families may look at what they expect to happen in the years and decades to come, and by taking steps to address their financial concerns, they can make sure that multiple family members will have the resources they need. Even though it may be difficult to think about, these plans may also address what will happen after a person's death. Luckily, with the help of an experienced estate planning attorney, a family can determine the best tools to use to protect themselves and address any concerns they may have.

As you work to address the issues that may affect your family in the future, Gateville Law Firm can provide you with the legal guidance you need. We will assist you in creating a comprehensive estate plan that takes into account your unique circumstances and objectives. By advising you of the different tools available to you, the personal and financial issues that you may need to consider, and your best options for preserving family wealth, providing for your own needs, and passing your assets on to your loved ones, we can provide you with the assurance that you will be fully prepared for whatever may happen in the future.

What You Need to Consider During the Estate Planning Process

Estate planning is the process of designing and implementing a plan that will protect your assets and provide for your family in the event of your death. In some cases, people or families may attempt to address these issues on their own, such as by using online forms to create estate planning documents. However, there are a number of risks involved in "do it yourself" estate planning, and it can be all too easy to make mistakes that could cause financial problems for family members in the future. To avoid these issues, it is best to work with an attorney who has the necessary knowledge and experience and who can provide effective advice on the best tools to use and the steps a family can take to address their unique concerns.

At Gateville Law Firm, we assist with multiple aspects of estate planning, including:

• Last Wills & Testaments - A will sets forth a person's wishes regarding the distribution of their assets and the care of their minor children upon their death. Fully detailing these issues in a valid and enforceable legal document will help family members avoid uncertainty about a loved one's wishes and ensure that their instructions will be followed correctly.
• Living Trusts - A trust is a legal arrangement in which a person (the grantor) transfers ownership of certain assets to another person or entity (the trustee) to hold and manage for the benefit of one or more third parties (the beneficiaries). A living trust will allow the grantor to maintain control of their assets and address their own needs while providing detailed instructions for how assets will be distributed to their loved ones.
• Joint Trusts vs. Individual Trusts - Married couples may need to determine whether it would be more beneficial to use joint trusts that combine their marital assets or separate trusts that provide more protection for assets owned by each spouse separately.
• Powers of Attorney - A power of attorney (POA) is a legal agreement that gives another person the authority to act on someone's behalf in financial and/or medical matters. This can be an important estate planning tool, as it allows a person to appoint someone they trust to make decisions for them if they become incapacitated.
• Advance Healthcare Directives - An advance directive is a legal document that allows a person to set forth their wishes regarding medical treatment in the event that they are unable to communicate those wishes themselves. These directives may include living wills or do not resuscitate (DNR) orders, and they can be an important tool for ensuring that a person's end-of-life preferences will be respected.
• Blended Family Estate Planning - Blended families may face unique estate planning challenges, such as how to provide for children from a previous marriage while still protecting the interests of a person's current spouse. Addressing these issues can be complex, but working with an experienced attorney can help ensure that all parties are protected and that the estate plan reflects the wishes of the family.
• Special Needs Estate Planning - When family members have disabilities, their loved ones may want to provide them with financial assistance. However, directly giving money or assets to a person with special needs may cause them to be ineligible for public benefits. By utilizing estate planning tools, a family can provide the necessary support and ensure that a person will be able to receive other forms of financial assistance so that their needs will be provided for.
• Estate Planning for Real Estate Investors - Owners of residential or commercial real estate property may need to take specific steps to ensure that these properties can be transferred to others as part of their estate plan. An attorney who has an understanding of real estate law can provide guidance on the best methods to use to protect and preserve these assets for future generations.
• Legacy Planning - Multiple different estate planning tools can be used to ensure that a person will leave a lasting legacy behind. In addition to addressing how a person's assets will be transferred to their loved ones, donated to charity, or used for other purposes, an estate plan may also make arrangements for the care of minor children, disabled family members, or pets.

Contact a Kendall County Estate Planning Lawyer

Estate planning is a complex process, but it does not have to be overwhelming. At Gateville Law Firm, we understand the challenges involved in estate planning, and we can help your family navigate the process and develop a plan that meets your unique needs. Contact us today at 630-780-1034 to schedule a free consultation. In 99 percent of the cases we handle, services are provided at a flat fee.