Guardianship becomes essential when an individual faces challenges in making sound decisions about their personal well-being or financial matters. Illinois has some of the most progressive guardianship laws in the U.S. when it comes to guardianship over children and older or disabled adults.
A will and a trust are recommended to ensure zero gaps in an estate plan. Knowing that assets are divided according to one’s personal wishes delivers peace of mind. While both a will and a trust share overlapping characteristics, some notable differences exist.
Estate planning involves much more than just drawing up a will, there is a lot to take into consideration, including planning for end-of-life care and how to best protect your investments against excessive taxation. Choosing an attorney with experience in estate planning can help you preserve everything you’ve worked hard for.
Planning for your estate and retirement seems like something you should handle in your later years, but the truth is you should start the process in your 20s and 30s. You want to be prepared for unexpected emergencies, especially if you have children. Use this guide to help you know and understand your options.