Get a Head Start with Estate Planning in Washington IL
Life comes at us fast and unexpected. Often, we have no way of knowing what will happen next! And while we’d instead think of life’s surprises as happy and positive, that isn’t always the case. Thus, by being prepared for what life may bring, both good and bad, you can take the worry and stress out of your and your family’s life. By sitting down with Essig Law Office for estate planning in Washington IL, you can be ready for anything.
Essig Law Office has spent the last 40 years serving residents throughout Washington, Peoria, Pekin, Eureka and the surrounding areas. We approach every case we take with compassion and dedication, putting our relationships with our clients ahead of everything else. And with estate planning, in particular, we always look out for you and your family’s best interests.
The Main Parts of Estate Planning
While estate planning’s legal intricacies are much more in-depth than our attorneys might let on, everyone must understand a few primary components. With most estate planning, we will have you draw up a will, establish necessary trusts and appoint power of attorney.
- Living Will
- A will is the basis for all estate planning. It is a necessary component, as it acts as an instructional guide for handling your assets after your passing. In your will, you will establish beneficiaries, meaning the loved ones you wish to bequeath your inheritance to. And by working with our law office, we can ensure to minimize tax contributions of your estate, promising the maximum amount of inheritance for your beneficiaries.
- Trusts
- A trust acts as an amendment to a will. While your will clearly states who receives portions of your assets, trusts introduce parameters or stipulations to what you’re passing on. For example, a trust might specifically direct a portion of your assets to be used as a college fund for your children. Or, a trust might set an age requirement to when your wealth is accessible to your beneficiaries. Overall, trusts give you more control over your assets.
- Power of Attorney
- With power of attorney, you decide who is to care for you and be responsible for you in the event you cannot provide for yourself. Power of attorney is only applicable in scenarios where you are still living, but you physically or mentally cannot make appropriate decisions for yourself. Furthermore, power of attorney assigns one person of your choosing to act in your place when making health and financial decisions.
The Legal Help You Require
While estate planning in Washington IL is an essential legal matter for every family to address, you may run across many legal issues throughout your life. And for most of them, Essig Law Office can provide a solution. For example, we handle practice areas that include:
Call Our Office
Be sure to get a head start on your estate planning in Washington IL, and be prepared for whatever life may bring, when you talk with the professionals at Essig Law Office. Call us today at 309-444-8041 to schedule a free consultation. Also, we are located at 135 Washington Square, Washington, IL 61571.
