Chicago Estate Planning Attorney
Last Will & Testament
It is not a pleasant thing to think about, but there will be a time when you will pass away. Before that time comes, however, it is important to get your financial affairs in order by drafting a last will and testament. A well-drafted will can have several legal and financial advantages regarding your estate and how it will be distributed among your family and friends.
For Chicago’s most trusted estate planning attorney to help draft, administer, and execute the desires in your will, contact James C. Provenza & Associates, PC today at (847) 729-3939.
What is a Will?
In short, a will is a legal document that stands at the center of any comprehensive estate plan. Upon an individual’s death, a will can serve in the following matters:
- Choosing a personal representative or an executor of the estate
- Distribute the individual’s assets to beneficiaries
- Payment for debts
- Designate the guardians of any minor children
- Help fulfill any final wishes and/or funeral arrangements
One problem with some wills, however, is that if the drafting is not legally sound and secure, varied interpretation of the will can create numerous problems to the execution of the estate plan. Therefore, legal counsel and guidance are essential when drafting a will, as this substantially reduces the chances for misinterpretation.
Understanding Wills in Illinois
The common idea of a will is that it lets the recently deceased decide who gets what. Although this is technically true, the last will and testament has many other benefits beyond the distribution of assets (and keeping this distribution from being made by the State of Illinois). These include guardianship, designation of probate estate, a request for the representative’s surety bond, and the preference for independent or supervised probate estate administration. There are some things that a will cannot do, including:
- Avoid probate court
- Disinherit a surviving spouse
- Keep the affairs of the estate private
- Dispose of property held in joint tenant
- Provide for management of assets during incapacity
Contact Chicago Law Firm James C. Provenza & Associates, PC For Your Estate
With the help of Chicago estate planning attorney James Provenza, we can help draft a strong will that considers a wide range of possibilities. Our goal is to ensure that your desires are carried out upon your death with the lowest risk of contest. Some of the ways that we can help include:
- Helping you understand what you need to do
- Getting your true wishes so that the executor of your estate can carry them out just as you desired
- Making sure the will follows all Illinois laws
- Reducing taxes and other costs that your loved ones may face after your death
- Making sure the estate is quickly settled