What to Expect When Working with an Estate Planning Attorney in Rockford, IL

by | Dec 22, 2022 | Lawyers and Law Firms

Working with an estate planning attorney in Rockford, IL, can be a beneficial experience for individuals looking to plan appropriately for their future. Here’s what to expect from the process.

1. Initial Consultation: Before engaging in any estate planning discussions, it is important to meet with an attorney to discuss your individual circumstances and goals. During the initial consultation, the attorney should provide an overview of the different types of estate planning options available and discuss the legal, financial, and tax implications of each.

2. Reviewing Your Assets: During the estate planning process, the attorney will review your current assets and liabilities. This includes items such as real estate, investments, bank accounts, life insurance policies, and any business interests. It is important to provide the attorney with an accurate and complete picture of your financial situation to ensure that all legal and tax implications are taken into account.

3. Drafting the Estate Plan: Once the attorney has a clear picture of your assets and liabilities, they will begin drafting the necessary documents to create an estate plan that meets your needs. This may include a last will and testament, a trust agreement, powers of attorney, and advance healthcare directives. Your attorney will also provide advice on how to best structure your estate for tax purposes.

4. Executing the Estate Plan: After the documents have been drafted and reviewed by you and the attorney, it is time to execute the plan. This includes signing and notarizing the documents and ensuring that they are properly filed with the appropriate government agencies.

5. Ongoing Maintenance: As life circumstances change, it is important to review the estate plan to ensure that it still meets your needs. Your attorney can help you make any necessary changes or updates to the plan.

Ready to work with an estate planning attorney in Rockford, IL? Contact the Crosby Law Firm today to get started.

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