Estate Planning Attorney for Buffalo Grove, Illinois
Planning for what will happen after you are gone is not always easy to do. Many people avoid thinking about such things until the last possible moment – which, unfortunately, is often too late. At the Law Office of Bradley L. Schencker, we help clients from all walks of life to effectively plan for the future. We understand how difficult it can be to consider what will happen after you pass away, which is why we offer flat rate fees and compassionate assistance that focuses on helping you achieve what you want most with your legacy.
Protecting Your Loved Ones
The benefits of proper estate planning are considerable, especially when it comes to protecting your loved ones. No matter how much, or how little, you have to leave behind, the fact is that those who remain need to know what your last wishes are. They need guidance to make sure that your property and assets pass on to those you designate. They also need your wishes in legal documents that will stand up to the scrutiny of the state. Without at least a simple will to state your instructions, the state will take over and decide who gets what. If you are like most people, this is the last thing you want.
Wills and Trusts
The two most common estate planning tools are wills and trusts. With a will, you can dictate exactly what you want to happen with your estate. All of your property, investments, case, land and other assets are assigned to a recipient. You designate an executor, someone you place your confidence in, to make sure that your will is followed exactly. Even if you do not have substantial assets, our firm can help you create a simple will at very little expense that will make sure there is no confusion and that fighting over your assets is kept to a minimum.
Trusts are also a valuable tool that can help you accomplish more specific goals than a will. There are many types of trusts, each designed to achieve different ends. With a trust you can avoid costly probate, a process that your heirs will be forced to go through if you just leave a will. A trust can also help you avoid excessive taxation on your assets, so that more of your hard-earned property gets into the hands of those you designate.
General Power of Attorney
A General Power of Attorney gives a person or list of people the ability to take action on your behalf when you cannot or choose not to. Your agent can take care of financial and business transactions, settling claims, operating business interests, making gifts, and employing professional help. Often used when you are out of the country and need someone to handle certain matters, or when you are physically or mentally incapable of managing your affairs.
Health Care Power of Attorney
A Health Care Power of Attorney is like the General Power of Attorney, but this document is limited in that the holder of the power can only act on your behalf with medical issues. This can be the same person as the General Power of Attorney but it can also be a different set of appointees.
Your HIPPA release form is provided with your estate plan so that anyone you list in this document can hear from your doctors and other medical providers about your health, and course of care. The person with the power of attorney makes the choices, but others can hear and learn if you want.
Other Estate Plan Documents
Every plan we draft is different and includes the documents that fit your needs. For example, we can make letters to change the designation on life insurance or burial instructions. Included with every plan is what you need, and not cookie cutter documents.
If you need assistance in Buffalo Grove, Wheeling, Prospect Heights, Palatine, Arlington Heights and throughout the Chicagoland area, please contact our firm today to discuss how our flat rate services can benefit your estate planning needs. Our firm is here to answer your questions and help you plan for the future.