Estate Planning

Tax Planning, Trusts, Wills

Everyone needs an estate plan. It legally ensures your wishes will be followed when you are no longer able to speak for yourself.

A solid estate plan starts with the fundamentals. Previously, people laid out everything in their Wills, which are public documents. When someone passes away, they must file the Will in the county in which the deceased resided. Because of Will vultures (people going through filed Wills to file frivolous lawsuits), it is strongly recommended that everyone has a Revocable Trust, which is also commonly known as a Living Trust.

Revocable Trusts allow you to lay out your wishes in a confidential manner. This type of trust provides you with the flexibility to both take out and put in assets as you please. Because of this, it is not designed to afford asset protection. Upon your passing, the Revocable Trust becomes irrevocable. Now your beneficiaries may be afforded creditor protection.

In addition to the Revocable Trust and pour-over Will, everyone needs durable Powers of Attorney for both Healthcare and Property. These are pivotal documents that ensure your wishes are followed when you cannot speak for yourself.

Whoever thinks you cannot have control over your affairs from the grave has not experienced adequate estate planning.

Contact Kerkstra Law Offices, LLC (312.285.9147) for valuable guidance in maximizing the benefits derived from the fruits of your labor.