Estate Planning In Oak Park, Illinois

Find the right Estate Planning attorney in Oak Park, IL

Estate planning in Oak Park, Illinois is simply the act of deciding what you want to happen to your assets after your death. It usually 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 usually the central component of any estate plan, there are many 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.

Most importantly, an estate plan should give instructions on the care of your minor children. It should lay out who is to take custody of them, and, if possible, leave them a large sum of money to assist with this care. Of course, you should discuss this matter with the people who you want to take custody of your children, to make sure they can actually take on such responsibility.

What Type of Estate Plan Do I Need in Oak Park, 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 necessary 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 various possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Oak Park, 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 large group of people who would benefit from having a good Oak Park, 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 involves facing some uncomfortable realities, it is necessary and unavoidable.

Do I Need a Oak Park, Illinois Estate Planning Attorney?

Estate planning in Oak Park, Illinois is not always perplexing, but it certainly can be. In moderately-sized to large estates, with a significant number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Oak Park

Oak Park, Illinois is a suburb of Chicago, located in Cook County. Its population, as of a 2003 Census estimate, is about 50,000 people.

Via the Chicago Loop, residents and visitors to Oak Park, Illinois, have very easy access to downtown Chicago, and all the amenities and economic opportunities that only one of the nation's largest cities can provide.

The history of Oak Park can be traced back to the 1830s, when a settler purchased about 170 acres of land outside Chicago. By 1850, the area was home to a railroad station, around which future growth would be based. Following the Great Chicago Fire of 1871, the population of what would become Oak Park began to boom, due to many residents relocating after losing their homes or businesses. Oak Park, Illinois was officially established as town in 1902.

Modernly, Oak Park is known for its many historic buildings, healthy economy, and excellent school system.

Because Oak Park, Illinois is such an attractive place to live for many people, it should be no surprise that plenty of lawyers have set up shop there. Oak Park, Illinois lawyers can handle just about any legal issue a resident of the area is likely to have. If you need any legal assistance, an Oak Park, Illinois lawyer is the first person you should call.

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