We Can Help Your With Probate and Estate Planning
Did you know that as many as 68% of Americans don’t have a will?
Luckily, for families based in Schaumburg, IL we’re here to help. The key to successful estate planning is working with an experienced team who understand the details. We can help you to protect your assets throughout your lifetime and distribute your wealth and property efficiently according to your will.
We can also ensure business continuity in the event of a health crisis or event that prevents you from working. It’s important to have a team you can trust to guide your decisions when it’s hard to make them yourself.
Read on to learn more about the estate planning and probate.
What Are Estate Planning and Probate?
Estate planning relates to all of the tasks undertaken by a legal firm to manage their customer’s assets in the event of incapacitation or death.
The best estate planning strategies include settling taxes, settling any lending and ensuring the individuals’ assets are inherited by those who they wish to receive them.
Probate is the court-supervised process of delivering the wishes of the deceased as stipulated in their last will and testament. It can include locating the individual’s full list of assets and establishing their value along with distributing the assets to the correct beneficiaries.
Navigating Probate Paperwork with Expertise
Without estate planning and probate processes in place, an individual who dies can’t ensure their estate will be inherited by the correct parties. The estate may also incur some losses due to inefficient management during the probate process.
Estate planning and probate can initially seem complex because a lot of paperwork needs to be filed. Furthermore, federal estate tax changes in 2020, due to Covid-19 have added another layer of legal complexity.
That’s why enlisting a professional team like DLS Law is so essential.
We can help with a wide range of probate and estate management tasks. That includes enabling you to protect a disabled loved one’s inheritance. If they’re eligible for any federal benefits we’ll also be able to let you know.
Perhaps you want to protect funds for a child while they grow and develop? We can help with that. Choose an estate planning and probate attorney that shares your values and beliefs.
What Services Do Probate Law Firms Provide?
There are a lot of services and activities undertaken by law firms that specialize in estate planning and probate. Some of them include: collecting life insurance policy payouts, calculating and paying inheritance taxes and estate and income taxes.
They also identify all of the estate’s assets. A probate attorney can pay off debts and final bills for their customers in the event they become incapacitated or deceased.
Financial assets aside, estate management can also include choosing a guardian for your children in the event of your death. That’s a very important part of organizing an individual’s estate.
Preparing and filing all court documents and retitling assets such as land, vehicles, property and bonds in the beneficiaries names are also activities we can undertake. Opening and managing the estate’s checking accounts is also a formal responsibility of a law firm like DLS Law.
Select The Best Estate Planning Attorney in Schaumburg, IL
To summarize, probate law and estate planning is complex and has a lot of associated paperwork. But, it becomes much simpler when you enlist experts like DLS Law to assist.
If you want to ensure that your estate is managed well at the end of your life and that the correct beneficiaries receive assets, we can help.
You can ensure a smooth transition of your estate to your nominated beneficiaries in the event of your death. Contact us now to discuss your plans.