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 62639

Overview of Estate Planning in Zip Code 62639


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 62639
Dupont Mark P
123 S Main St
Dupo, IL 62239
(618) 286-9995
Attorneys, Legal Service Plans
Bright Barry
434 W North Ave
Flora, IL 62839
(618) 662-9585
Criminal Law Attorneys, Attorneys, Legal Service Plans
Olavarria Frank
4846 W Fullerton Ave
Chicago, IL 60639
(773) 385-9111
General Practice Attorneys, Attorneys, Legal Service Plans
Fanella Frank M
1771 Bloomingdale Rd
Glendale Heights, IL 60139
(630) 462-7646
Attorneys, Wills, Trusts & Estate Planning Attorneys, Family Law Attorneys
Shinkle Daniel
1300 15th St
Lawrenceville, IL 62439
(618) 943-7318
Attorneys, Social Security & Disability Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Le
Lippner Michael R
1220 Emerald Dr
Lemont, IL 60439
(630) 257-6757
Attorneys, Accountants-Certified Public, Accounting Services
Garmisa Thomas
1900 N Austin Ave
Chicago, IL 60639
(773) 745-6632
General Practice Attorneys, Attorneys
Nigro, Westfall & Gryska, P.C.
1793 Bloomingdale Rd
Glendale Heights, IL 60139
(800) 210-6476
Accident & Property Damage Attorneys, Attorneys
Taylor Law Offices PC
100 W 6th St
Flora, IL 62839
(618) 662-6022
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  W
Leonard Aaron K
100 W 6th St
Flora, IL 62839
(618) 662-6022
Wills, Trusts & Estate Planning Attorneys, Attorneys, Real Estate Attorneys, Legal Service Plans
Jacobs-Caley Michelle Law Office
310 State St
Lemont, IL 60439
(815) 478-5957
General Practice Attorneys, Attorneys
Welch Mary Beth
130 E North Ave
Flora, IL 62839
(618) 662-5900
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  C
Joel J.C. Powless
119 West North Avenue
Flora, IL 62839
(618) 662-5635
Personal Injury Law Attorneys,  Corporation & Partnership Law Attorneys,  Criminal Law Attorneys,  A
Powless Law
3 Brook Ln
Flora, IL 62839
(618) 662-5635
General Practice Attorneys, Attorneys
Shahzad Raheel
1793 Bloomingdale Rd Ste 12
Glendale Heights, IL 60139
(630) 665-5060
General Practice Attorneys, Attorneys, Legal Service Plans
Benefiel Philip
1308 17th St
Lawrenceville, IL 62439
(618) 943-5000
General Practice Attorneys, Attorneys
Ron Young Law Office
111 W North Ave
Flora, IL 62839
(618) 662-4539
Attorneys, Family Law Attorneys, General Practice Attorneys, Legal Service Plans
Blakeslee Rebecca M
1011 State St
Lawrenceville, IL 62439
(618) 943-4493
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Tungate Mark
400 N Main St
Flora, IL 62839
(618) 662-4488
Attorneys, Accident & Property Damage Attorneys, General Practice Attorneys, Legal Service Plans, Ba
Tungate Law Office
400 N Main St
Flora, IL 62839
(618) 662-4488
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans,
Coble & Milone
832 W North Ave # D
Flora, IL 62839
(618) 662-4477
General Practice Attorneys, Attorneys
Mason Paul G
404 E Oak St
Fairbury, IL 61739
(815) 692-4336
Attorneys, Criminal Law Attorneys, General Practice Attorneys
Kinate Gordon M
111 W Locust St
Fairbury, IL 61739
(815) 692-4329
Attorneys, General Practice Attorneys, Legal Service Plans
Rise & Shine
6252 W Grand Ave
Chicago, IL 60639
(773) 417-3676
Bankruptcy Law Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US