The reality is that no one lives forever. Even if you lead a modest lifestyle, decisions must be made about what to do with your belongings and resources. That’s where the idea of planning your estate now comes into the picture. To ensure nothing is overlooked, it pays to hire an estate planning attorney in Rockford, IL, to help with the planning.
You grasp the concept of a last will and testament, but what about other documents? It’s essential to make sure every possible contingency is covered. To that end, make sure there are legal and medical powers of attorney in place. That will mean someone is able to make end-of-life decisions for you in case an illness or accident leaves you unable to do so.
The details found in your will are also something to think about. How well do you know what’s required in the state where you reside? In some cases, you will need to ensure that it’s clear only the heirs named can inherit portions of the estate. It would then be important to provide instructions on what should be done if one or more of those heirs predecease you.
Last, there’s the matter of making sure the executor has immediate access to financial resources that can be used to settle your final expenses. An estate planning attorney in Rockford, IL, can help you set up accounts that serve this purpose. Depending on where you live, this may make it possible for the executor to begin without having to wait for the probate process to complete.
Even if you don’t have much right now, talk with a professional and devise a plan. Remember that it can always be amended as your circumstances change.
For more information, don’t hesitate to get in touch with the Brynteson Law Firm at https://bryntesonlaw.com/ today.
