Chicago Estate Planning Attorney

Lawyer for Comprehensive Estate Plans Serving Cook County

A strong, thorough estate plan is comprised of multiple documents. Estate planning is a multifaceted process - there is far, far more to it than making a will and calling it a day. It is also a two-sided coin. On one side are your testamentary wishes - what you want to happen to your money and property when you are no longer here to enjoy them. On the other side is incapacity planning - your wishes regarding how you would want to be cared for in the event that you become incapacitated in your old age or otherwise.

At The Sherrod Law Firm, Ltd., we believe that everyone deserves to have their wishes respected in these matters. Our attorneys build comprehensive estate plans consisting of multiple types of documents, each drafted to serve a unique purpose, including seamlessly transferring real estate to your heirs or offering you choices in your own future health care. Our lawyers are nothing if not thorough in designing plans that you can have faith in.

Attorneys for Lasting Trusts in the Chicago Area

Trusts are becoming increasingly more common, and for good reason. You do not need to be ultra-wealthy to reap the benefits of trusts as tools for estate planning and more. A majority of people use revocable living trusts, which are easy to later amend if necessary.

Irrevocable trusts, on the other hand, offer strong asset protection features. Real estate gifts are frequently transferred through trusts, as doing so can guard the property against any burdens levied in the estate administration process.

Trusts can also offer flexibility when it comes time to make distributions to your beneficiaries. If you like, you can give your chosen trustee significant discretion so that they can use your trust funds to meet your beneficiaries' needs as they arise.

Legal Help Creating a Will in Illinois

Even if you are going to use a trust, it is a good idea to include a will in your estate plan. Your will can be used to back up a trust by moving any property that did not make it into the trust during your lifetime. Of course, you can also use a will as your main testamentary document, although your beneficiaries would need to go through probate.

Parents of minor children should always have a will. In a will, you can name the people you would want to take care of your children just in case they are left without a parent.

Our lawyers always design wills with contest prevention and asset protection in mind. We want you to be fully confident in the effectiveness of your will.

Lawyer for Powers of Attorney and Advance Directives

It is not unusual for a person to be more fearful of becoming incapacitated than they are of dying. There is a significant loss of control associated with aging and experiencing a mental decline. Fortunately, there are ways that you can make a plan for this potential event.

Powers of attorney are used to appoint the people you would want to make personal, medical, and financial decisions on your behalf. You are welcome to be as specific as you want in instructing your POA on what they can and cannot do on your behalf, and they will be bound by your wishes.

Powers of attorney can be set up so that they will not have any effect unless and until you are actually deemed incapacitated. With these documents in place, you can relax knowing that you will still be in control, no matter what your future holds.

Contact a Cook County Estate Planning Attorney

The Sherrod Law Firm, Ltd. is skilled in building comprehensive and multifaceted estate plans. We want you to feel confident that your wishes will be carried out even when you are not able to speak for yourself. Contact us at 312-321-6910 to receive a complimentary consultation.