Estate Planning 101 — A Tutorial
An Introduction to Estate Planning in Illinois
Estate Planning is a broad term that includes making provisions about what you want to happen upon your death or incapacity. Estate Planning involves making decisions regarding how you want to protect your family and who is most capable to carry out your desires.
Many people delay doing their estate planning because they are afraid to face the uncertainties. Others delay because they are worried that the process is too complicated or confusing.
Estate Planning in a Few Quick Lessons.
This tutorial is designed to give you the basics of Illinois Estate Planning in eighteen easy lessons, all in plain language with no legalese. Afterwards, you’ll get recommendations on the next steps to take on the road to taking control and protecting your family.
Lessons in Estate Planning 101:
- What is Estate Planning?
- Objectives of Estate Planning.
- When is Estate Planning Important?
- Does Everyone Need Estate Planning?
- When Should I Do My Estate Planning?
- What’s Included in My Estate?
- What is Probate?
- Common Estate Plans.
- The Problems with Doing Nothing.
- The Problems with Joint Ownership.
- The Problems with Giving Away Assets.
- The Problems with Beneficiary Transfers.
- The Advantages of a Will.
- Revocable Living Trusts.
- Powers of Attorney for Property.
- Controlling Medical Decisions.
- Estate and Gift Taxes.
- Ways to Reduce Your Estate Taxes
What do I do next?
Some people think of Estate Planning as similar to building a home which keeps your family safe from the weather. These lessons are a foundation. You can build on this information to complete a solid structure, which will protect you and your family from a storm. This safe spot is made up a several options. The following articles and posts will help you prepare for completion of the estate planning process.
- Estate Planning – Step-by-Step
- Essential Estate Planning Documents
- Wills For Free
- Download Confidential Estate Planning Questionnaire
If you want to protect your family NOW, don’t delay and give me a call at 312-372-1880 or email me with the link below.
I look forward to helping you.
Categories: Estate Planning 101
Tags: Estate Planning
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30+ Years Experience.
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John Varde, Attorney
180 North LaSalle, Suite 2650
Chicago, Illinois 60601
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If you’re ready to take the next step, download the free Confidential Estate Planning Questionnaire