Estate Planning is the writing of a will, a trust, power of attorney, living will, IRA direction or other types of documents that assist your survivors in administering your assets after your death. However, a power of attorney is generally used prior to death but after a person is no longer able to manage their affairs. A guardianship also accomplishes this but with much more court activity and costs. Estate Administration is when our office represents survivors in transferring the assets of a deceased person to their beneficiaries and heirs. This can take the form of probate of a will, administration of a trust, and other matters. Lastly, Probate is a court administered procedure where the assets of a deceased person who either died with a will or without a will (intestate) can have their assets transferred to their heirs and beneficiaries according to Illinois Law. Any person can ask the probate court to administer the estate of a deceased person, but ultimately the court decides who is best to administer the estate.
Do you need a Will? Has someone passed away? Does your trust need updating? Please fill out our contact form to schedule your consultation.
