Our DuPage County elder law attorneys discuss in the following article the main goals every estate must consider to establish a great estate plan for your family.
Tools that can be used to accomplish some of these goals are:
- Using revocable living trusts to ensure your estate doesn't require costly probate court.
- Using trusts and wills to appoint executors and trustees to protect, manage and distribute your assets according to your wishes.
- Using healthcare property powers and powers of attorney to ensure guardian proceedings won't be necessary if you become mentally incompetent.
- Using a living will to make end-of-life decisions.
We also discuss several more specialized goals, such as:
- Avoiding estate taxes
- Planning in the event a loved one with special needs
Protecting your assets from creditors and planning for long-term care. At O'Flaherty Law, we know that no estate plan is the same and must be tailored to each individual with their specific needs taken care of, we work with each client to create the best plan that eliminates stress and worry.