Unexpectedly losing a family member can be devastating. After coming to terms with your loss, you may be faced with the confusing task of locating the will or determining what their final wishes might have been. If they died without a will or a trust, you might need an experienced Estate Administration Lawyer in Chicago IL to help you with the probate process.
Probate can be time consuming and might also be quite complicated if the deceased person owned a business or other complex assets. Attorneys deal with these matters on a regular basis and can take the burden off of you and your family so you can grieve the loss of your loved one without the stress of settling their estate. Because there are several forms that need to be filed with the court, it is easy for the average person to get frustrated with the process.
If your loved one has assets left over after all of their debts are paid, your Estate Administration Lawyer in Chicago IL will ensure they are distributed according to either the deceased person’s will or the law if there was no will. Some assets can be passed on to beneficiaries without going through the probate process. Life insurance policies, bank accounts and retirement plans that have beneficiary designations will be given to the person listed on the form. Your attorney can help you get access to those funds.
Assets that are included in trusts might not have to go through probate to be passed down to their intended recipient. Many people create trusts so their family members do not have to wait to receive their inheritances or even to have some control over how their assets are handled after they die. You don’t have to be wealthy to include a trust in an estate plan.
Having your own estate plan is essential to avoiding the drama of probate. An attorney may help you determine the type of plan that is best for your particular situation so your family doesn’t have to wait months to receive the assets you want to leave for them. If you want to create a trust or make sure the will you have written is complete, visit Website to get in touch with an attorney who can help you. You can also visit them on Facebook.
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