Estate planning is something everyone who owns any assets should go through. Many people erroneously think estate planning is something only the wealthy will need. It is important individuals know what they can expect when working with an Estate Planning Lawyer Moline, IL. With this information, individuals will be fully prepared for the process.
Getting Prepared For Estate Planning
It is imperative a person is fully prepared for their meeting with the Estate Planning Lawyer Moline, IL. If a person is properly prepared for the meeting, they will be able to avoid wasted time. The following documents should be gathered and brought to the meeting.
- Information on all life insurance policies
- Wage statements
- Tax documents for at least two years
- Information on all real estate property
- Information on beneficiaries
- Information on the appointed guardian for minors
- Information on the executor of the will
- Information on the power of attorney
Working with the Estate Planning Lawyer Moline, IL will help individuals to remain in control of how their estate is handled upon their death. Estate planning can help to reduce the burden left on surviving family members and will often help them to avoid the long process of probate.
What Is Involved in the Process?
There are several steps involved in the process of estate planning. Knowing the steps that will be carried out will help a person to be fully prepared for the process. The following are some of the steps that will be carried out when meeting with the lawyer.
- The will is drawn up and signed. The will names an executor and lists how each asset is to be handled, along with the names of the beneficiaries.
- Estate planning will help the individual’s family avoid large estate taxes.
- The lawyer will help their client draw up a power of attorney.
- The lawyer will create an advance health care directive.
- All papers and documents will be digitally organized for the client.
If you are in need of help with estate planning, contact The David J Franks Attorney-at-Law. Allow them to help you through each stage in the process so you can be sure your estate will be properly handled. Click here at http://davidjfrankslaw.com/ for more information.
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