Wheaton Estate Planning Lawyers

Winfield wills and trusts attorney

Attorneys for Wills, Trusts, Powers of Attorney, and Probate in DuPage, Kane, and Will Counties

It is important for everyone to plan for the future, no matter their age, health, or economic status. Even when you expect to live for many more years, taking the steps to decide what will happen after your death can eliminate a great deal of stress and uncertainty for your family if the unthinkable should happen. In addition, a comprehensive estate plan can also ensure that you will have the financial resources you need throughout your lifetime, and you can also address the medical care and treatment you do or do not want to receive in certain circumstances. 

At McSwain Nagle & Giese, P.C., our estate planning attorneys have more than 65 combined years of legal experience, and we are here to help you understand your options as you plan for the future. We will answer your questions and advise you on what should be included in your estate plan, and we will make sure all documents are created and executed correctly. With our help, you can have the peace of mind that your family's needs will be met, no matter what happens.

Elements of a Comprehensive Estate Plan

The most foundational part of your estate plan is your last will and testament. This document specifies your last wishes for how matters should be handled after your death. You can use your will to state how you would like to have the property you own distributed among your heirs, and you can also name a person who you would like to serve as the guardian of your minor children. You may also address certain other issues, such as the disposal of your remains.

In addition to your will, trusts can provide you with more options and flexibility for how your assets should be handled. A trust is a legal agreement in which your assets will be placed in the control of a trustee with instructions for how they should be distributed to your beneficiaries. You can name yourself as one of the beneficiaries, using the assets to provide for your own needs during your lifetime, while passing the remaining assets to your loved ones after your death with specific instructions for when distributions will be made or how they can be used.

There are multiple different types of trusts. With a revocable living trust, you can remain in control of your assets during your life while appointing a successor trustee who will assume control of the trust after your death. An irrevocable trust will remove assets from your control, which can protect these assets from creditors. A special needs trust can be used to provide financial support for a loved one with a disability while ensuring that they can still receive public benefits. Your attorney can help you determine which type of trust will meet your family's needs.

Another key part of your estate plan is making sure your decisions about your own care will be followed correctly. By creating powers of attorney, you can name a person (known as your "agent") who is authorized to make decisions for you in the event you become incapacitated or cannot make decisions for yourself. A power of attorney for healthcare will address your medical care, living situation, and other personal matters, while a power of attorney for property and finances will address decisions related to the assets you own, the payment of debts and expenses, and other financial matters. When creating a power of attorney, you can specify the types of decisions your agent will be allowed to make, and you can describe your wishes for how you would like certain matters to be handled. 

In addition to helping you create and execute the documents described above, we can assist with the probate and estate administration process. The person named in a will as the executor of the estate must file the will in probate court, manage the deceased person's final affairs, and distribute their property to their heirs. We can provide representation during this process and make sure all of an executor's duties are completed correctly, and we can also assist in the process of trust administration to ensure that assets are properly distributed to the beneficiaries named in the trust.

Contact our Warrenville Estate Planning Attorneys

If you are looking to create or update an estate plan, the lawyers at McSwain Nagle & Giese, P.C. can provide the legal help you need, and we will work with you to make sure your family's needs are met both now and in the future. To arrange a free consultation, contact us at 630-407-1200. We serve clients in Glen Ellyn, Wheaton, Carol Stream, Warrenville, Glendale Heights, Winfield, Naperville, and throughout DuPage County, Cook County, Will County, Kane County, and Kendall County.

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