So many people know they need an estate plan (will, trust, powers of attorney). But they don’t know why. They don’t know what happens if they don’t have one. They don’t know how having one changes everything.

For starters, the saying goes that “If you do not have a will of your own, the State of Illinois has one for you.” That will is called “intestacy,” dying without a will is called dying “intestate.” The rules of “intestacy” are what the state legislature’s best guess would be about what you would want — and in many cases the State of Illinois could not be more wrong!

For example, if you die and are married, the law of “intestacy” does not give everything to your surviving spouse on your death, as you might expect. Rather, it splits your assets 50/50 between your surviving spouse and your children. And if your children are minors, then those assets must be protected (from you) till they turn 18 years old.

And that’s not even the worst of it. Dying without a will means that you died without a plan. That leaves the door open to all sorts of horrible things for your family: a mad scramble for your assets, no one is in charge, third-parties like banks and brokerage accounts cannot distribute to your kids, etc.

Proper planning with a will, a trust, powers of attorney, etc. can help your family so much. It is criminal not to take steps to prevent disaster. Your situation is unique, and we take the time to understand your concerns. If you are an heir or executor of an estate and you need help understanding what the next steps are, please call (847) 848-6165 now.