Understanding an Estate Plan
Find out why having a comprehensive estate plan is important for individuals and families.
Protection of assets
Ensure that your assets are distributed according to your wishes, minimizing legal disputes.
Avoid taxes and fees
With a well-planned estate, you can minimize taxes and fees for your beneficiaries.
Health and medical decisions
Designate someone to make health and medical decisions on your behalf with a healthcare power of attorney.
Which is right for you?
When it comes to estate planning, there are a multitude of options available to meet your individualized needs. Our highly qualified and dedicated team at Crowder & Scoggins, Ltd is equipped with the knowledge and expertise to provide personalized guidance for your unique situation. We understand that every person’s situation is different and our goal is to find the best solution for you and your family. Whether you need assistance with creating a will, establishing a trust, or navigating the complexities of probate, we are here to help you every step of the way. Trust Crowder & Scoggins, Ltd to handle your estate planning needs with care and precision for a secure and peaceful future.
When it comes to estate planning, it’s natural to feel overwhelmed and unsure of what choices to make. At Crowder & Scoggins, Ltd, we specialize in providing guidance through this process, so that you can feel confident and at peace with your decisions for the future. With our expertise, you’ll have all the information you need to create a strong estate plan and secure your assets for the ones you love. Let us help ease your mind and protect your legacy.
Illinois Financial Power of Attorneys
Having a financial power of attorney in Illinois can help ensure that your financial affairs are managed according to your wishes if you are unable to make decisions yourself. It also allows you to choose a trusted individual to act on your behalf and handle important financial matters on your behalf.
A financial power of attorney is a legal document that allows someone else to make financial decisions on your behalf if you are unable to do so. This can include managing your bank accounts, paying bills, and making other financial decisions. It helps ensure your financial affairs are taken care of if you are unable to make decisions yourself.
In Illinois, a financial power of attorney can be appointed through a legal document known as a power of attorney. This document allows an individual to appoint someone else to make financial decisions on their behalf. The appointed person is known as the agent or attorney-in-fact, and they must be at least 18 years old and of sound mind.
If you do not have a financial power of attorney in Illinois and you become incapacitated, the court will appoint a guardian to handle your finances. This process can be expensive, time consuming, and leave you with little control over your own finances. It is important to have a financial power of attorney in place to ensure your wishes are followed in the case of incapacitation.
Avoid Taxes With an Estate Plan
Proper estate planning is crucial when it comes to minimizing potential tax burdens and successfully transferring wealth to your loved ones for generations to come. Our knowledgeable lawyers can help you craft a comprehensive plan that meets your specific needs and goals.
Creating a comprehensive estate plan is crucial to ensure your loved ones don’t end up paying excessive taxes. With the help of our expert attorneys at Crowder & Scoggins, Ltd, you can minimize or even eliminate any potential tax liabilities, giving your family peace of mind during difficult times.
Why A Will is Important
In Illinois, and many other states, if you do not have a Will that waives the requirement for an executor to waive a bond, then you’re executor will have to take out a bond that is equal to twice the assets of your estate. Bonds can have a significant impact on the inheritance that is left for your family, as they can be expensive and greatly reduce the amount of assets available. This is why it is important to carefully plan your estate to avoid the need for a bond and protect your loved ones financially.
Our experienced lawyers at Crowder & Scoggins, Ltd know exactly how crucial it is to have a thorough estate plan in place that takes into account all of your assets. With our guidance, you can rest assured that every detail will be covered and all of your hard work and wealth will be protected for you and your beneficiaries.
Key Aspects of a Comprehensive Estate Plan
Having an estate plan is essential to ensuring that your assets and wishes are protected after your death.
Trusts
A trust allows you to dictate how your assets will be distributed after your death and can help avoid probate.
Wills
A will is a legal document that outlines how your assets will be distributed after your death and can name guardians for your children.
Power of Attorney
A power of attorney is a document that appoints someone to make important decisions regarding your finances and healthcare if you are unable to do so.
Contact Crowder and Scoggins to Create Your Customized Estate Plan
Take control of your future and protect your assets with a comprehensive estate plan tailored to your specific needs.