Rockford Estate Planning

Find the right Wills & Trusts attorney in Rockford, IL

In Rockford, "estate planning" refers to all of the decisions affecting how a person's property is going to be disposed of after their death, as well as the procedure of implementing those decisions when the time comes.

Estate planning normally requires professional legal and financial advice, because of the complexity and importance of the issues involved. A poorly-executed estate plan can commonly end with survivors suing each other, and prevent your intentions from being effectuated.

In addition to deciding what to do with your assets after your death, your estate plan should also contain things that might become relevant during life. Power of attorney is a big one. Power of attorney is an arrangement in which you provide another person the ability to make decisions for you, if you become incapacitated. Furthermore, effective estate planning can help reduce the effect of taxes and court fees on your final disposition to your chosen beneficiaries.

A qualified estate planner in Rockford can make the procedure of planning your estate go much more smoothly, and maximize the chances of your wishes really being carried out with legal force.

Common Features of Rockford Estates

Will: A will is often the central component of an estate plan. It is a legal document which says what is to be done with a person's assets after they die. It normally involves giving money and property to the testator's close family members, friends, and sometimes charitable organizations.

Living Will: A living will contains instructions about your medical care, typically for the purpose of informing your family and doctors of your preferences if you suddenly become incapacitated. A living will is extremely essential if you have any strong preferences in this area. It should be written with the advice of a doctor, so you know the precise medical consequences of your decisions, and a lawyer, so it is virtually guaranteed to be legally binding.

Power of Attorney: Power of attorney, while important, is not to be used lightly. This is because it involves granting someone else the power to make legally-binding decisions on your behalf. Normally, your spouse will automatically have power of attorney if you become incapacitated. If you are not married, however, you need to make a document explicitly granting that authority to someone you trust (a life partner or close family member, for instance).

Funeral Arrangements: If you have any strong preferences concerning the disposition of your physical remains, you should make them known to your family early, and should not include funeral instructions in your will. Wills are commonly read weeks after the testator dies, so in most cases, it will be too late by then.

Do I Need a Rockford Estates Lawyer?

A poorly drafted or executed Rockford estate plan can have major negative consequences. For instance, it might be confusing to the people who are most directly affected by it. This confusion can commonly lead to costly litigation. For that reason, the advice of an accomplished estate planning attorney can be invaluable.

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

Life in Rockford

Rockford, Illinois is a city on both banks of the Rock River, in Northern Illinois. It is the county seat of Winnebago County, and the third-larges city in Illinois, with a population of over 150,000 people.

Rockford, IL experienced a major economic boom in the first half of the 20th Century, largely due to the massive industrialization of the entire country that was necessary to the war effort in WWII. However, like many industrial cities, Rockford, IL went into a steep economic decline in subsequent decades.

However, with the manufacturing industry in the U.S. bouncing back faster than the rest of the economy in the wake of the recession of the late 2000s, Rockford, IL has reaped some of these benefits. One of the biggest employers in the city is a major Chrysler manufacturing plant. Part of this recovery has been due to government investment in the area, and was made possible, in part, by the government bailout of the two largest auto companies in the U.S. Several Rockford, IL lawyers were probably involved in coming up with this deal.

The lawyers of Rockford, IL are skilled in handling a wide range of cases. If you live in the Rockford area, and need a lawyer, you can't do much better than hiring a Rockford, IL attorney.

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