Like a lot of busy people, you may not have the time to think about estate planning. It’s something that can easily get pushed to the bottom of your to-do list. But if you want to make sure your family is protected when you’re no longer here, it’s crucial to start now.
A Palatine Illinois area estate planning attorney can help you build an estate plan which treats your legacy as more than just your financial wealth. At Donald L. Sadowski, P.C., we make sure your values are protected, along with your assets. We will also ensure your loved ones’ quality-of-life and facilitate difficult end-of-life decisions. Most importantly, we will be uniquely focused on you, giving practical and personalized advice tailored to your needs.
Why Is Estate Planning Important?
Whatever your age or income, estate planning is a worthwhile effort. After all, what’s the point of building wealth if your loved ones won’t benefit from it after you’re gone?
A solid, comprehensive estate plan does more than say who is to receive what assets after you die. It can protect and preserve your assets while you’re alive and address your healthcare and financial matters if you become disabled or incapacitated.
A timely, well-designed estate plan requires the skill and experience of a Palatine Illinois area estate planning attorney. At Donald L. Sadowski, P.C., we can help you design an estate plan, which may include:
- A will which distributes your assets to loved ones and charitable organizations;
- Trusts which hold your assets while you are alive and distribute them for designated beneficiaries according to your wishes;
- Durable financial and healthcare powers of attorney which identify decision-makers and your preferences in case you become incapacitated;
- A living will that guides what doctors can do to and for you; and
- A business succession plan which addresses your business dealings, including self-canceling installment notes and buy-sell agreements.
The longer you delay estate planning, the more you likely risk losing control of your assets to courts and encountering unintended consequences arising from the operation of Illinois’ laws. This could result in unwanted delays, fights, and expenses for your loved ones which might otherwise have been easily be avoided. A skillfully-constructed estate plan can protect your wishes and your loved ones’ peace of mind.
Protect Your Children and Loved Ones
Estate planning is a must if you have young children or disabled loved ones in your Palatine family. With a properly-created estate plan, your children and loved ones will experience some level of security and stability through a difficult time. An estate plan gives you the power to:
- Appoint someone whom you trust and who loves your child or loved one as their guardian;
- Financially provide for your child or loved one through a trust or another arrangement;
- Protect your child or loved one’s assets from threats to wealth as they grow up;
- Reduce disruption to their daily routine; and
- Minimize the impact of an inheritance on any state and federal benefits they may be receiving.
Protect Your Business
What would you do if you suddenly lost control of the business you worked so hard to build in Palatine? Without a comprehensive estate plan, your thriving business today could be significantly disrupted by your death or incapacity tomorrow.
A Palatine Illinois area estate planning attorney can build a solid plan that protects the future of your business. Donald L. Sadowski, P.C. works with business owners and entrepreneurs. In the same way, we can help you with your business succession planning. We will help you create a plan that minimizes the impact of your loss to the businesses’ continued success.
The plan we create will transfer ownership and control to those whom you trust and give them the guidance they need. We can help you design a business succession plan that could include:
- A family limited liability company or limited partnership;
- Private annuities;
- A buy-sell agreement;
- Self-canceling installment notes; and
Helping Palatine Individuals and Families
We have worked with individuals and families living in Palatine at every stage of life.
Our process is designed to make it as easy as possible for your busy life. The first step is to get to know you and your priorities through a consultation. We strive to build a meaningful attorney-client relationship with you. After all, a successful estate plan requires listening before action.
With an understanding of your needs, we’ll work with you to adequately plan for and protect your loved ones and your assets. Our Palatine Illinois area estate planning attorney also understands that plans and goals evolve over time. Your circumstances, as well as Illinois and federal laws, will change. So, we offer affordable maintenance plans that will keep your estate plan up to date.
We have provided estate planning for a diverse range of clients, building a reputation for personalized, respectful service. Our clients have included:
- Two-parent and single-parent families;
- Blended families through remarriage;
- Divorcing and divorced couples;
- Unmarried partners and couples;
- Families with special needs or a disabled loved one;
- Business owners and entrepreneurs; and
- Individuals who wish to protect their assets.
Consult With a Palatine Illinois Area Estate Planning Attorney Today
At Donald L Sadowski, P.C., we are ready to help you take control of your future and live life on your terms. We understand our client’s needs and take a holistic approach centered on your unique situation.
Just like you, we value long-term relationships that are built on trust and respect. We pride ourselves on our practical and purpose-driven estate plans. To start building your estate plan, contact us today.