March 27, 2020

Why You Should Have an Estate Plan in Place

Geocaris Law Firm wants to help you come up with a good estate plan. As Arlington Heights estate plan lawyers, we know why you should have one in place. Here are several reasons.

Fair Distribution of Assets

When you die, you want your money to go to places that you cared about. An estate plan makes sure that happens according to your wishes. When you set up the distribution of assets, usually there will be an executor for the plan. The executor should be a qualified person, like a lawyer, who will follow your wishes exactly. Having your estate plan on a solid foundation will prevent problems.

No Confusion Between Heirs

Think about the people you want to inherit your money. How will they treat each other? You do not want there to be a big money fight following your departure. If you have an estate plan, all the details of how your assets should be distributed will be handled according to your wishes. This will prevent arguments between heirs.

Leave a Legacy for Your Name

An estate plan is an opportunity to donate to organizations that you really cared about. It allows you to benefit people who will thank you for your generosity. A good reputation after the funeral is a memory that cannot be taken away.

Handling of Taxes

An estate plan handles the complicated state and possibly Federal taxes that may apply to your assets. The skillful attorney who sets up your estate plan will be sure to include the necessary paperwork for taxes.

If you are wanting to set up an estate plan, than Geocaris Law Firm is here for you. We are professional Arlington Heights estate plan lawyers. If you have any questions or concerns, do not hesitate to contact us at 847-487-6869.