No one ever wants to think about what will happen to their property after they pass away. Nevertheless, everyone’s life will eventually come to an end whether by sudden illness, accidents or old age. While they can determine who should inherit their property, it is important to have the information documented for legal purposes. An estate planning lawyers in Moline, IL can provide the services you require to help determine the beneficiaries of your property. Plus, assist in establishing a well that will specify how the estate will be distributed after you have passed away. From establishing trust funds to naming guardians of minor children, they can help create the legal documentation to ensure your final wishes are fulfilled.
Disadvantage of Not Establishing Your Final Wishes
- The state laws will be followed in distributing property to family members which can result in the wrong person obtaining possession of your estate.
- A higher tax rate is paid for estates that have not been planned out and documented by an attorney.
- Family disagreements can occur that tie your estate up in probate court that can take a long time to settle and consume a good portion of your property in court fees.
- If small children are involved, they can be awarded to the state while it is determined who should retain guardianship over them.
Start Planning Your Estate Today
David J. Franks Attorney at Law has a primary focus to provide each client with the services they require to prepare for their future. Whether you are looking to establish a trust or want to legally document your final wishes. They offer the comprehensive services you require to protect your estate and the financial future of your family.
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An estate planning lawyer in Moline, IL area can ensure your property is distributed to a beneficiary that is a non-family member. If a will is not established, the court system does not have to grant them the property.
