12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Overview of Estate Planning in Zip Code 62842

Overview of Estate Planning in Zip Code 62842


Death is not a tragedy to the one who dies; to have wasted the life before that death, that is the tragedy.
 
- Orson Scott Card


Estate planning is the process of getting your affairs in order so that if you pass away unexpectedly, things will be much easier for your loved ones.

Estate Planning doesn't have to be hard or expensive or intimidating. Just a few simple steps: Catalog what you own, make a will and create a few legal documents (with the help of 12Law.com) and review the beneficiaries on your retirement accounts. For most Americans, there's no need to worry about estate taxes or fancy trusts.

Do it for your family. You will feel so much better knowing that you've taken care of them.

• Write a will. State in this document the properties you want your beneficiaries to inherit. You can also indicate the guardian for your young children if something happens to you and your partner.

• Select a guardian for your children. Children who will inherit any money or property from you should be designated with an adult guardian to oversee their affairs.

• Update beneficiaries on retirement accounts. You can transfer to your beneficiaries your stocks, bonds and brokerage accounts if you were able to register them. If you have a bank account and retirement plans, naming a beneficiary to these documents can automatically make these accounts "payable on death". This can avoid the probate process.

• Sign up for life insurance. It would be a good investment to get a life insurance if you owe significant amount of estate tax or debts, have young children, and own a house.

• Determine of you will owe estate taxes. Estates taxes will be impose by the government upon your death if your taxable estate is more than the inclusive limits set by law.


• Determine if a Living Trust is right for you. Property placed in the living trust can be distributed to their designated beneficiaries without undergoing probate which can be expensive and time consuming.

• Define your health care directives . You also need to plan out for your medical care by doing a medical declaration or Living Will that can indicate the treatments you want or do not want and Power of Attorney for health care that can assign a trusted person who will make medical decisions for you if you are unable to make it yourself.

• Create a financial power of attorney . If you become incapacitated, handling your affairs can be a problem but not if you have a durable power of attorney for finances. A trusted person you have chosen yourself will be handling your finances and property if that time comes. This trusted person is called an agent or attorney-in-fact.


• Provide for funeral expenses. Payable-on-death bank account can be more reliable and easier to set-up as compared a funeral prepayment plan. This will cover your funeral and other related expenses.

• Make the final arrangements. This document will indicate your wishes for organ and body donations and also the disposition of your body through burial or cremation.

• Define the Succession Plan for your business. Make plans if you own a business by having a successor. If you have a partner in business, have a buyout agreement.

• File all estate planning documents. The person you choose in your will to administer your properties should be given access to your important documents like:

1. will

2. trusts

3. information on bank accounts, mutual funds, and safe deposit boxes

4. information on retirement plans, 401(k) accounts, or IRAs

5. insurance policies

6. real estate deeds

7. certificates for stocks, bonds, annuities

8. Information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes

9. Information on funeral prepayment plans, and any final arrangements instructions you have made.

 
Personalize & Print a Free IL Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free IL Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Zip Code 62842
Rueda Ivan
1217 N Milwaukee Ave # 2
Chicago, IL 60642
(773) 252-9800
General Practice Attorneys, Attorneys
Gwen Carroll Ltd
700 N Green St # 402
Chicago, IL 60642
(312) 948-9800
General Practice Attorneys, Attorneys
Fogart & Fugate LLP
1433 W Huron St
Chicago, IL 60642
(312) 624-9318
Administrative & Governmental Law Attorneys, Federal Law Attorneys, Attorneys
Timothy J. McGrath
440 S State St
Manhattan, IL 60442
(815) 214-9200
Attorneys, Family Law Attorneys
Swearingen Brad M
149 S Lincolnway
North Aurora, IL 60542
(630) 896-8881
Family Law Attorneys, Attorneys, Legal Service Plans
Duggan John
181 S Lincolnway
North Aurora, IL 60542
(630) 264-7893
Attorneys, General Practice Attorneys, Legal Service Plans
Doyle Law Team
211 E Main St
Hoopeston, IL 60942
(217) 283-7717
Social Security & Disability Law Attorneys,  Attorneys,  Malpractice Law Attorneys,  Accident & Prop
Johnson & Johnson PC
171 W Lincoln Ave
Lewistown, IL 61542
(309) 547-7433
Attorneys, Family Law Attorneys, Accident & Property Damage Attorneys, Corporation & Partnership Law
C and B Kezios
1400 N Halsted ST
Chicago, IL 60642
(312) 867-7407
General Practice Attorneys
Aaron Spivack
811 W Superior St
Chicago, IL 60642
(312) 243-7317
Attorneys, Legal Service Plans
Collins Ted G
177 W Lincoln Ave
Lewistown, IL 61542
(309) 547-7211
Attorneys,  Accident & Property Damage Attorneys,  Corporation & Partnership Law Attorneys,  Legal S
Schatz Family Law
525 N Ada St # 36
Chicago, IL 60642
(312) 846-6735
Guilfoyle Kathleen M
1316 Meriden St
Mendota, IL 61342
(815) 539-6711
Attorneys,  Elder Law Attorneys,  Accident & Property Damage Attorneys,  Wills, Trusts & Estate Pla
Kaleel David M
806 Jefferson St
Mendota, IL 61342
(815) 539-5616
Estate Planning Attorneys,  Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Business Bankru
Ryan Law Offices
11021 Woodstock St Ste 200
Huntley, IL 60142
(847) 455-5575
Bankruptcy Law Attorneys, Real Estate Attorneys, Attorneys
Chris Doscotch
156 N Adams St
Lewistown, IL 61542
(309) 547-5201
Employee Benefits & Worker Compensation Attorneys,  Attorneys,  Accident & Property Damage Attorneys
Bokus Michael G
609 8th Ave
Mendota, IL 61342
(815) 539-5002
General Practice Attorneys, Accountants-Certified Public, Attorneys
Sandy N. Isaacson
1000 N Halsted St Suite 203
Chicago, IL 60642
(888) 680-4299
General Practice Attorneys, Attorneys, Legal Service Plans, Business Law Attorneys
Cook Alvaro LTD
149 S Lincolnway
North Aurora, IL 60542
(630) 892-3947
Attorneys,  Criminal Law Attorneys,  Personal Injury Law Attorneys,  DUI & DWI Attorneys,  Legal Ser
Booth Robert P LTD
149 S Lincolnway
North Aurora, IL 60542
(630) 892-3938
Corporation & Partnership Law Attorneys, Attorneys, Legal Service Plans, Employee Benefits & Worker
Holland Troy D
812 Washington St
Mendota, IL 61342
(815) 539-3711
Attorneys, Wills, Trusts & Estate Planning Attorneys, General Practice Attorneys, Legal Service Plan
Casa Sanchez
1248 W Chicago Ave
Chicago, IL 60642
(312) 243-2561
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Fleck Michael J
11608 Dean St
Huntley, IL 60142
(847) 669-2558
Attorneys, Business Law Attorneys, Real Estate Attorneys, Estate Planning Attorneys, Legal Service P
Cabrini Green Legal Aid
740 N Milwaukee Ave # B
Chicago, IL 60642
(312) 738-2452
Attorneys Referral & Information Service, Legal Clinics, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US