Everyone should have a will. The document relays your wishes after your death. Further, having a will helps the family to avoid unnecessary anxiety. Indeed, a will makes sure there is little room for any argument. In addition, the document is the simplest way to leave monetary gifts and property. Additionally, parents can name a guardian for minor children. Likewise, the document allows you to appoint an executor. The executor should be someone that is trusted to carry out an important task. They must see the will through the probate process. In essence, probate means the will is filed in the probate court and the judge approves it.
A Probate Lawyer in Moline IL explains who the best candidates for a simple will are. The drafter should be under fifty, in good health, and not owe estate tax. In other situations, the lawyer may recommend setting up a trust. Trusts do not have to go through probate. Trust candidates are those who want to leave property in trust for a minor child until they are an adult. Likewise, they may have a disabled child and need a trust to plan for that child’s needs. Finally, it may be best to avoid a will in situations with children from more than one marriage.
Understandably, there is confusion about wills. For instance, some put funeral information in a will. However, it is better to leave this information with the executor while you are alive. The executor may not think to open a will until after the funeral. Moreover, a will does not relay any information about a person’s last illness. It is better to have a living will. Living wills let doctors know what kind of life-saving measures should be taken.
Another good idea is to establish a power of attorney before you are ill. A durable power of attorney can be very helpful. This gives your loved one the ability to sign checks and other documents on your behalf. This is especially important if they are caring for you at home. Bills must be paid as well as purchases made. Discuss these various issues with a Probate Lawyer in Moline IL. They help individuals make the right estate decisions.