Your Guides Through Illinois And Florida Estate Planning
At Kelleher + Holland, LLC, we understand that planning for the future is a personal and profound task. As a trusted law firm with a dedicated team of attorneys, we offer comprehensive estate planning services to protect what matters most to you.
We bring a wealth of knowledge and a full-service approach to each client through the 14 states we practice in: Arizona, California, Florida, Illinois, Kentucky, Michigan, Missouri, Ohio, Texas, Wisconsin and Wyoming. Our aim is to provide peace of mind through customized estate plans that reflect your wishes and secure your legacy.
Essential Components Of A Comprehensive Estate Plan
Estate planning is more than just drafting documents; it is about ensuring a secure future for your loved ones. Here are the key tools we utilize to achieve this:
- Wills: Essential for declaring your wishes and guardians for minor children
- Trusts: Versatile instruments for managing assets now and in the future
- Power of attorney: Gives someone else the power to make decisions for you when you lose capacity
- Health care directive: Informs your health care team of your wishes regarding treatment
Why is an estate plan important? It’s simple: Without one, the state decides how your assets are distributed, who cares for your children and even what happens if you are incapacitated. We help you take control of these decisions, providing clarity and avoiding unnecessary probate processes.
How We Make A Difference For You
Why choose us for your estate planning needs? We believe that every individual deserves a plan that is as unique as they are. Our approach is to listen carefully, understand your objectives and craft solutions that align with your vision for the future. We’re not just lawyers; we are your partners in this journey, ensuring that your estate plan works for you and your loved ones.
Plan Your Future With An Illinois Estate Plan Lawyer
Let us help you build a secure path for your legacy. Our attorneys are ready to guide you through every step of the estate planning process. For a personalized consultation, reach out to us at 847-242-1777 or connect via email. Your future is our priority.
Click here to know about Beneficiary Income Accumulation Trust (BIAT®)
Additional Estate Planning Services
Wills And Trusts | Asset Protection Planning | Elder Care | Pre- And Postnuptial Planning | Spousal Lifetime Access Trusts | Grantor Retained Annuity Trusts | Intentionally Defective Grantor Trusts | Domestic Asset Protection Trusts | Offshore Trusts Gift Tax Reporting | Family Limited Partnerships | Family Limited Liability Companies
Click here to fill out your Power of Attorney For Young Adult Worksheet
Frequently Asked Questions About Estate Planning
To help you better understand the estate planning process, we’ve compiled answers to some of the most common questions our clients ask:
What is estate planning?
Estate planning is the process of preparing for the management and distribution of your assets during your lifetime and after death. Our attorneys work with you to create an inclusive plan that reflects your wishes and protects your loved ones.
Why do you need an estate plan?
An estate plan helps ensure your assets are distributed according to your wishes, potentially reduces taxes and can prevent family disputes. It also allows you to make important decisions about your health care and finances if you become incapacitated.
What documents are included in an estate plan?
A typical estate plan includes a will, trusts, power of attorney and health care directives. Our attorneys tailor these documents to your specific needs and circumstances.
What is a will, and why is it important?
A will is a legal document that specifies how you want your assets distributed after your death. It’s crucial because it allows you to name guardians for minor children and an executor to manage your estate.
What is a trust, and how does it differ from a will?
A trust is a legal arrangement in which assets are assigned to one party to manage for the benefit of another. Unlike wills, trusts can take effect during one’s lifetime and may help avoid probate, potentially saving time and money.
What is a power of attorney, and why might you need one?
A power of attorney authorizes someone to make decisions on your behalf if you’re unable to do so. This can cover financial matters, health care decisions or both.
What is a living will, and how does it work?
A living will, also known as an advance directive, details your preferences for medical treatment should you become unable to communicate. It guides your health care team and family in making decisions that align with your wishes.
What happens if you die without an estate plan?
Without an estate plan, state laws determine how your assets are distributed, which may not align with your wishes. This can lead to family conflicts and unnecessary taxes.
Can you change your estate plan after it’s created?
Yes, you can modify your estate plan as your circumstances change. We recommend reviewing your plan periodically to ensure it remains current.
How often should you review your estate plan?
We suggest reviewing your estate plan every three to five years or after significant life events such as marriage, divorce, birth of a child or substantial changes in assets.
For personalized advice on your estate planning needs, we invite you to contact our experienced attorneys.