At some point in all of our lives, we have to think about our legacy and the future of our loved ones. For some, this concern develops after the birth of a child. For others, it’s spurred by the growth of their business or a new marriage. No matter your motivation, a Barrington IL area estate planning attorney at Donald L. Sadowski, P.C. understands that your legacy is more than your wealth — it’s also your values.
We help our clients in Barrington, South Barrington and Barrington Hills build comprehensive estate plans that protect their assets, ensure their loved one’s quality of life, and directs difficult end-of-life decisions. Just as importantly, we’re uniquely client-focused, giving practical and personalized advice to everyone we serve.
Why Is Estate Planning So Important?
No matter your age or circumstances, an estate plan is in your best interests. A well-built estate plan does more than distribute your property after your death. It can also operate as a form of asset protection during your life, guide your health care and finances if you become incapacitated, and pass your beliefs and insight on after you’re gone. However, to do all these things, you’ll need guidance from an experienced Barrington IL estate planning attorney.
Depending on your circumstances, your estate plan may require:
- A will that names an executor and distributes your estate to loved ones and organizations you support
- Trusts that hold your assets and provide for designated beneficiaries
- Durable financial and health care powers of attorney that appoint decision makers and articulate your priorities
- A living will declaration that guides your physicians
- A business succession plan that may include self-canceling installment notes, a buy-sell agreement, and other tools
Those who opt against estate planning leave significant issues left unresolved, such as, health care and disability, maintaining control over your assets, the wise transfer and stewardship of wealth to your children, financial powers of attorney, retirement planning and estate taxes — and allowing the courts and Illinois’ probate and inheritance laws to make decisions for you. This can lead to unwanted delays, disputes, expenses, and results that do not reflect your personal values. When someone dies or is unable to make their own decisions, their estate plan can step in, speak for them and as a result, protect their wishes.
Guide Your Children and Loved Ones Through a Difficult Time
An estate plan is especially important if your Barrington, South Barrington and Barrington Hills family contains young children or a disabled loved one. If you are unexpectedly disabled or pass away, your child or loved one will need support and stability during that difficult time. An estate plan gives you the power to:
- Appoint a trusted loved one as your child’s caretaker
- Provide for your child or loved one’s needs through a trust or another arrangement
- Protect their assets as they grow up
- Minimize disruption of their education, lifestyle, and daily routine
- Reduce the impact of an inheritance on a disabled individual’s state and federal benefits
Protect the Future of Your Business
You’ve worked hard to build a thriving business in Barrington, IL and you probably consider its reputation and success as part of your legacy. However, what would happen if you were unable to make decisions or passed away? Could your business survive a significant disruption of its leadership?
A Barrington IL area estate planning attorney can do more than create a last will and testament. At Donald L. Sadowski, P.C., we also guide business owners and entrepreneurs through business succession planning. We help our clients understand the opportunities and challenges that may arise during a transition of leadership, and help them create strategies aimed at minimizing their impact.
We’ll get to know you and your business, and then help you create a plan that transfers ownership and control to trusted stakeholders and family members, while giving them the support and guidance they need for continued success. Depending on your goals and priorities, your business succession plan may involve a family limited partnership, private annuities, a buy-sell agreement, self-cancelling installment notes, and trusts.
We Help Barrington, South Barrington and Barrington Hills Individuals and Families With Estate Planning and Maintenance
Donald L. Sadowski, P.C. assists individuals and families at every life stage with their estate planning needs. Our first step in any client relationship is getting to know you and your priorities. We know that building a meaningful attorney-client relationship and a successful estate plan requires listening before action.
Once we understand your needs and concerns, we’ll work with you to create a plan that protects your loved ones, business, property and assets. Just as importantly, our Barrington IL area estate planning attorney understands that your plan should be a living plan that changes with you over time as your life changes, your assets change and the laws change.
We assist a diverse client base and have built a reputation for personalized and respectful service. Our clients include:
- Two-parent and single-parent families
- Blended families created by remarriage
- Divorcing and divorces couples
- Unmarried partners and couples
- Families with special needs or a disabled loved one
- Business owners and entrepreneurs
- Individuals who want to protect and immunize their assets and wealth from threats like lawsuits, financial reversals, seizure or claims
Our firm develops lifetime relationships with our clients. This provide our clients the peace of mind knowing they have a trusted and objective advisor to turn to with their most important lifetime decisions and who will be here to care for their family when they can’t be.
Request a Consultation With a Barrington IL Area Estate Planning Attorney
If you’re ready to take control and start building your estate plan, a Barrington IL area estate planning attorney at Donald L Sadowski, P.C. can help. With our main office conveniently located in Schaumburg, we understand our neighbors’ needs and take a holistic, client-centered approach. Just like you, we value long-term relationships that are built on trust and respect and pride ourselves on our practical and purpose-driven estate plans. Contact our office today.