Estate Planning Means Preparations in Bethalto, IL
People setting up a will and estate planning documents need to focus on making good use of the time of their attorney. This counts for residents of the Bethalto, IL area. There are some things you should be prepared to talk about and know in meetings with your attorney about these things. The more time that you spend working on planning these things before your meeting, the faster your attorney will be able to create a plan that fits your vision. We will be listing some examples of things you should be ready to talk about in estate planning meetings here.
Estate Planning & Decision Making
When it comes to estate planning, there are a lot of decisions that you have to make. We have included a list of them below.
Health Care Proxy
You will need to find someone who can make medical decisions on your behalf in you are unable to.
Guardian for Your Young Children
Make sure you have someone who can take care of your children if you have any that still need a guardian. Will this person or someone else manage the inheritance you want to leave for your child?
Financial Power of Attorney
In the same vein as a healthcare proxy, this will be the person who works as your financial agent in the event you cannot make financial decisions on your own.
Equalization mechanisms are used for the distribution of inheritance in case you want to leave a gift for someone down the line of their lifetime.
Your Personal Belongings
How do you want your personal belongings to be handled? Do you plan on giving anything specific to anyone?
Consider who will be in charge of settling your estate.
Are you planning on giving any gifts to nonprofit organizations that were a part of your estate?
Young and Adult Beneficiaries Distributions
If you have any children, would you like them to receive any benefits? If so, when can they receive their benefits? Do you also have any adult heirs who might benefit from having a share? Let your attorney know if they have any kind of credit problems, special needs, addiction, or have a divorce in their foreseeable future.
Do you need help with your estate planning? Give our team over at Diaz Law Office a call today! We are located in the Bethalto, IL at can assist you with your legal needs.