Rock Island Estate Planning Attorneys
Estate Planning Attorneys in Rock Island and Moline, Illinois.
When you create an estate plan, you use various legal devices to decide what will happen to you and your assets when you pass away or become incapacitated. The consequences of failing to create an enforceable estate plan can be immense. Many people find estate planning uncomfortable, but it is well worth the effort.
At Greenwood Law, we aim to offer quality, customized guidance to individuals who are looking to prepare for the future. If you are new to the process, our experienced estate planning attorneys can review all available options and help you understand how they can be used to achieve your unique goals. We can also help make changes to existing estate planning documents. Getting you peace of mind is our main objective, and we will be here for you whenever you have questions or concerns about your plan.
Why Estate Planning is Essential for Everyone in Rock Island County
Estate planning is a critical step for individuals of all financial backgrounds, not just the wealthy. Regardless of the size of your estate, having a plan in place ensures your assets are distributed according to your wishes and that your loved ones are protected. Estate planning encompasses more than just managing significant assets; it involves making important decisions about healthcare directives and guardianship for minor children, which can be crucial for any family.
Estate planning is about securing your legacy and providing peace of mind, knowing that your loved ones will be taken care of according to your desires. Consulting with an attorney at Greenwood Law can help tailor an estate plan that suits your unique needs and circumstances, offering guidance and support every step of the way.
Our veteran-owned firm offers discounts to retired and active military service members, union members, and disabled veterans. Contact our estate planning lawyers online or call (309) 790-7003 to schedule a free initial consultation.*
The Importance of Creating an Estate Plan
Someone must inherit your property after you pass away, and estate planning allows you to decide who will get what. If there is no will, trust, or distributive instrument which clearly defines how assets are to be divided upon death, in Illinois and Iowa the respective intestacy statutes will govern the distribution of assets. In other words, the state decides for you. In most cases, your assets will be divided amongst your closest surviving relatives, but the specifics of these rules vary from state to state. Not all states recognize common law marriages like Iowa does, for example, which can become crucial in intestate succession. Things can become even more confusing if you have moved across the river from Iowa to Illinois and back. Estate planning is designed to take these complicated laws and fix the distributive scheme you desire.
Understanding Estate Planning Tools
When the subject of estate planning comes up, many people think about their will. Though the will is an important and necessary document, it should only serve as the start of your estate plan. Wills are public documents whose content is subject to probate. Having a will is better than having no estate plan at all, but you will likely be better served if you implement additional instruments.
Our estate planning attorneys can assist you in Atlanta, Georgia; Chicago, Illinois, Rock Island, Illinois, and Davenport, Iowa with:
Trusts
- A trust is a powerful arrangement that can be customized to suit your specific needs. A revocable living trust is similar to a will and can be used to quickly transfer assets to heirs. Property placed in trusts is not subject to probate and thus skips the process entirely. Irrevocable trusts cannot be changed once implemented but are used for other purposes, such as limiting the impact of estate taxes.
Powers of Attorney
- A power of attorney allows you to prepare for the possibility of incapacity, you should consider using a power of attorney document to authorize another person to act on your behalf. You can dictate that your agent’s powers will only activate should you become unable to communicate, and you determine the scope of their abilities. In Illinois there may be additional powers available under your powers of attorney, including the ability to waive the requirement of bond if a guardian is appointed or giving your agent to dispose of your remains for example .
Advance Directives
- If you have specific preferences for the types of medical care you wish to receive or not receive in the event you become incapacitated, you can define them in your advance directive. Your agent with powers of attorney will typically rely on the instructions in your advance directive to advocate for you.
Updating Your Estate Plan: When and Why It's Necessary
Estate plans should always reflect your current wishes, which will more than likely change as you grow older. It is in your best interest to go over your documents every few years, even if you are confident no updates are necessary. You should look over your estate plan as soon as possible if you experience a major life event.
Major life events include:
- Having a child
- Getting married or divorced
- A significant change in financial circumstances
- Developing a serious injury or illness
- Moving to a new state
Our skilled estate planning attorneys at Greenwood Law are prepared to support your estate planning efforts throughout your lifetime. Our Atlanta, Chicago, Rock Island, and Moline estate planning lawyers can help you conduct regular reviews of your instruments and recommend changes as your life evolves.
Why Choose Greenwood Law for Your Estate Planning Needs?
At Greenwood Law, we understand that estate planning is not just about creating a will—it's about securing your legacy and ensuring your loved ones are taken care of. Our dedicated team of attorneys brings years of experience and a personalized approach to each client's unique situation.
Here’s why choosing us can make a difference:
- Personalized Consultations: We take the time to understand your individual goals and concerns, tailoring our services to meet your specific needs.
- Comprehensive Services: From wills and trusts to powers of attorney and healthcare directives, we offer a full range of estate planning services to protect your assets and wishes.
- Expertise in Local Laws: Our attorneys are well-versed in the estate laws of Georgia, Illinois, and Iowa, ensuring that your plan complies with all legal requirements and maximizes benefits.
- Ongoing Support: Estate planning is an ongoing process. We provide continuous support and updates to your plan as your life circumstances change.
- Peace of Mind: Knowing that your estate is properly planned gives you peace of mind, allowing you to focus on what truly matters—your family and your future.
Don't leave your legacy to chance. Contact Greenwood Law to schedule your consultation and take the first step towards a secure future for you and your loved ones.
Do not wait to start thinking about your estate plan. Call (309) 790-7003 or contact us online to start exploring your options today. Our Atlanta, Chicago, Rock Island and Moline estate planning lawyers are ready to help you.
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