Estate planning in Glenwood, Illinois is simply the act of deciding what you want to happen to your assets after your death. It typically entails making plans about funeral arrangements, as well as plans for end of life care.

While the drafting of a will (the document that dictates what is to be done with the decedent's property after death) is typically the central component of any estate plan, there are several other elements which you may want to include, depending on your goals, and your financial situation.

Besides a will, a quality estate plan will include a living will, which gives your doctors and relatives instructions concerning your healthcare in the event that you become incapacitated, funeral arrangements, and instructions on organ donations.

If you have young children, it is absolutely crucial that you make arrangements for their care, as well as their custody. Obviously, if you want someone specific to take custody of them in the event something happens, you need to discuss the matter with them, to ensure that they are actually able and willing to care for them.

What Type of Estate Plan Do I Need in Glenwood, Illinois?

The answer to this question depends largely on your goals and priorities, as well as your age, health, and the amount of assets you have.

For instance, if you're unmarried, and in your early 20's, estate planning is probably not the most crucial thing in your life. However, if you're seriously ill, and/or unusually wealthy, estate planning might be a priority for you.

Individuals who are, for varied possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Glenwood, Illinois estate plan. Because couples who aren't married don't automatically get any of the legal rights (such as hospital visitation, inheritance rights, and power of attorney) that come with marriage, they have to secure these rights through other means, such as wills and power of attorney agreements.

There is another considerable group of people who would benefit from having a good Glenwood, Illinois estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily includes facing some uncomfortable realities, it is crucial and unavoidable.

Do I Need a Glenwood, Illinois Estate Planning Attorney?

Because estate planning in Glenwood, Illinois can involve some confusing legal and financial issues, it is necessary to undertake this task with the guidance of an experienced attorney who specializes in estate planning.