Why You Need Peoria Estate Planning Attorneys
Many people do not fully understand the role of attorneys when it comes to Peoria estate planning. Brave Law estate planning attorneys guide you through the process of protecting your assets and making decisions for the future of your family. Our firm specializes in facilitating trusts, preparing and making changes to wills, and acquiring powers of attorney. Most importantly, our services ensure that your wishes are carried out in the event of your death. Email us today to schedule a consultation or seek advice about Peoria estate planning. Our firm’s proven results when it comes to estate planning come highly recommended with 5-star customer reviews.
What Is the Difference Between a Will and Peoria Estate Planning?
A lot of people think that all their affairs are settled if they have a will prepared. However, a will that was prepared years ago can quickly become outdated and issues can arise that create rifts in your family. For that reason, it is important to understand the difference between a will and Peoria estate planning. Here is an explanation of why they are different:
- Wills – These are legal documents that detail how to distribute your assets when you die, designates guardians for your children, and name an executor to carry out your wishes.
- Estate Plans – These are more all-encompassing plans that account for your assets during your life as well as after your passing. Estate plans are a collection of legal documents including wills, trusts, powers of attorney, medical directives, and more. Estate plans can make sure your wishes are known if you are incapacitated. They also name a representative to make decisions for your medical care and welfare if you can no longer make them yourself. For instance, estate plans ensure that beneficiaries are named on insurance policies, retirement accounts, and property transfers.
What Makes Up an Estate?
Your estate represents all the assets you are protecting when discussing Peoria estate planning. Parts of your estate may include the following kinds of assets:
- Real estate
- Business interests
- Money in bank accounts
- Life insurance benefits
- Retirement plans
- Valuable personal possessions
What Makes a Successful Estate Plan?
It is only natural to wonder what the end goal is when it comes to Peoria estate planning. Our firm works with clients to ensure estate plans account for the following objectives:
- Valued assets are protected.
- Strategies are used to reduce tax liabilities and unnecessary expenses on assets being distributed to heirs.
- Intended beneficiaries will receive the proper assets.
- Plans are in place to manage your assets if you become incapacitated are can no longer make decisions for yourself.
- The privacy of your affairs is protected.
Attorneys for Trust and Estate Litigation
You may wonder what can result without quality Peoria estate planning. Unfortunately, those who pass away without comprehensive estate plans in place can leave loved ones in a difficult spot. During the emotional grieving process, heirs can disagree on how to divide your assets. This can lead to volatile court battles over contested wills, trust litigation, lawsuits by creditors, and potential breaches of fiduciary duties. If you are involved in an estate dispute, our firm can bring your case to the best possible resolution for you and your family.
Contact Peoria Estate Planning Attorneys
Brave Law can help make sure your wishes are carried out after you pass away with our comprehensive Peoria estate planning services. Send us an email today to request advice on how to handle your estate. Also, you can get in touch by calling 309-228-9254 or online at email@example.com. In addition to estate planning, our firm specializes in probate law, real estate law, criminal defense law, divorce, and family law.