People work diligently all their lives, trying to build a nest egg and trying to establish a legacy to leave for their loved ones. It would be a tragedy if you worked hard and none of your loved ones got anything that you desired for them to get. It would be sad if your family members squabbled over who got what because you didn’t have things in place to settle it. If you haven’t done so, now would be a good time to get your estate in order. The Law Offices of Charles T. Newland and Associates would like to assist you in this endeavor. Here are a few tips for you to consider in estate planning:
(1) Don’t think because you don’t have millions of dollars that you don’t have an estate worth planning. It is important that your personal affairs are set up exactly as you wish.
(2) There are several parts to an estate: the will, the power of attorney, the living will or health care proxy and, in some cases, a trust. Be sure you are abreast of the estate guidelines for both the federal and the state laws.
(3) List your assets such as real estate, investments and insurance policies.
(4) A will is necessary to put in place exactly who gets what, eliminating the unnecessary confusion.
(5) A trust will ensure the how, when and to whom of the distribution of your assets after you are gone.
(6) Although you can leave an unlimited amount of your money to your spouse tax-free, it is not always a good idea simply because it will increase later on your spouse’s taxable estate.
Charles T. Newland and Associates are estate attorneys in Libertyville, Buffalo Grove, Gurnee and surrounding cities in Lake County, Illinois who will put into your hands the right tools and information for proper estate planning. For over 20 years, they have been serving Illinois in estate planning. They want to be your trusted source for estate and probate concerns. From estate planning to guardianship cases, they are willing to serve you. They are also well-qualified in bankruptcy, business litigation and personal injury. So when you are ready to take that next step to ensure your final step, call on the Estate Attorneys in Libertyville, Illinois who will take you through the steps; Charles T. Newland and Associates.
