Illinois attorney Kevin O'Flaherty explains everything you need to know about estate planning so that you can learn how to save your family thousands in probate expenses, guardianship proceedings and estate tax. The purpose of this book is to make you an educated consumer so that you can identify what your estate planning goals should be and the appropriate tools you can use to accomplish them. We answer questions like:
A note from Kevin O'Flaherty:Before I began practicing law in 2007, my understanding of estate planning was basically that you should have a will to provide for the distribution of your assets to loved ones when you pass. While this is true, there is much more to estate planning than simply putting a will in place. Having a good estate plan is every bit as important as having a financial plan or a family budget. A good estate plan can save your family thousands of dollars in probate expenses, attorney fees for guardianship proceedings if you become mentally incompetent, and estate tax. Most people have the same understanding of estate planning as I did before I started practicing. Unless you have spoken with an attorney or a financial advisor, there is typically very little occasion to educate yourself on the topic. The purpose of this book is to allow you to be an informed consumer so that when you meet with an estate planning attorney, you can be your own advocate and will have a fundamental understanding of the goals you are trying to accomplish for your loved ones and the tools that you can use to achieve those goals. Estate planning is not only for the wealthy.
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