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Wheeling Estate Planning Attorneys
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Planning for the future can feel overwhelming, but our team is here to make the process easier. We provide clear guidance in all areas of estate planning, including wills, trusts, powers of attorney, and advance medical directives. Call 847-797-8000 today to arrange a free consultation.
We had such a great experience with Newland & Newland while working through estate planning for my mother... We really appreciated how knowledgeable and approachable she was. Highly recommend Newland & Newland!
Dedicated Lawyers for Estate Planning Matters in Wheeling, IL
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The purpose of an estate plan is to provide you and your family members with peace of mind for the future. It can cover arrangements for what happens to your property upon your passing, how you want to be cared for near the end of your life, and who should make important decisions about medical care or finances if you become unable to yourself. A Wheeling, Illinois estate planning attorney can help you address these concerns step-by-step.
Estate planning is best handled by an attorney that you can trust. At Newland & Newland, LLP, we have received over 175 5-star reviews for our responsive service and knowledgeable counsel, so you can rely on us to look out for your best interests.
What Can You Include in a Will?
A will is a written document that tells Illinois courts how you want your property handled after your death. Most people use a will to leave money, a home, or personal belongings to family members, friends, or charities. A will can include several kinds of instructions, such as:
- Specific gifts, like a car, jewelry, or a family heirloom, left to a named person
- A plan for the rest of your estate after specific gifts and debts are paid
- An executor who will gather your assets, pay bills, and distribute property
- A guardian for minor children
Some property does not pass through a will at all. Life insurance, retirement accounts, and bank accounts with a named beneficiary go directly to that beneficiary. A home owned in joint tenancy usually passes to the surviving owner. Your will and your beneficiary forms should line up so your wishes do not conflict.
When Should You Consider Creating a Trust?
A trust is worth considering when you want more control over how and when your property reaches your loved ones. A living trust lets a trustee manage assets for your beneficiaries without a probate case, which can save time and keep your affairs private. A trust can release money to a young adult in stages instead of all at once at age 18.
Trusts also help families with more complex situations. Blended families often use trusts to provide for a current spouse while protecting an inheritance for children from an earlier marriage. A trust can also manage your finances if you become unable to handle them yourself, since a successor trustee can step in without court involvement.
Stephen S. Newland
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- Illinois Real Estate Lawyers Association, Board of Directors
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What Is a Living Will?
A living will is a legal document that states whether you want life-sustaining treatment if you have a terminal condition and death is near. Doctors follow a living will when you can no longer speak for yourself. It can spare your family from making a painful choice without knowing what you would have wanted.
A living will has a narrow purpose. It applies only to death-delaying procedures at the end of life, and it does not name anyone to make decisions for you. Many people pair a living will with a power of attorney for health care, which covers a much wider range of medical choices.
Setting Up Powers of Attorney in Wheeling, Illinois
Powers of attorney give a trusted person, called an agent, the legal right to handle your affairs if you cannot. Illinois uses separate forms for property and health care. Your property agent can manage bank accounts, pay bills, sell real estate, and deal with taxes. Your health care agent can talk with doctors, review medical records, and make treatment decisions.
You can name backup agents in case your first choice is unavailable. You can also decide whether a property power of attorney takes effect right away or only after a doctor finds you unable to manage your affairs. Signing rules differ between the two forms. The property form needs a witness and a notary, while the health care form needs a witness. Your agent cannot serve as a witness.
Frequently Asked Questions About Estate Planning in Wheeling, IL
A will can name a guardian for your children in Illinois, and it is one of the most important reasons for parents to have one. You can choose a guardian to care for your children and a guardian to manage any money they inherit. A judge must still approve the choice and will consider the children's best interests, but your wishes carry significant weight.
If you die without a will in Illinois, state law decides who inherits your property. A spouse and children usually split the estate, and other relatives inherit when there is no spouse or child. A court also appoints an administrator to settle the estate. Unmarried partners, stepchildren, and friends receive nothing under these default rules.
A special needs trust is a trust that holds money for a person with a disability without making that person ineligible for benefits like Medicaid or Supplemental Security Income. The trustee uses the funds for extra needs, such as therapy, education, travel, or equipment. Parents and grandparents often set up these trusts so a loved one is provided for long after they are gone.
You can create a living will in Illinois if you are an adult of sound mind. You must sign the document, or have someone sign it for you at your direction, in front of two adult witnesses. A witness should not be someone who would inherit from you or pay for your medical care. You can cancel a living will at any time.
The right time to start making plans for your estate is usually earlier than people expect. Every adult over 18 can benefit from powers of attorney. Getting married, having a child, buying a home, or starting a business are strong signs that you need a will or trust. Waiting until a health crisis can limit your options.
Meet With Our Wheeling, Illinois Estate Planning Lawyers
Planning ahead gives you a say in what happens to your family, your property, and your medical care. At Newland & Newland, LLP, we help Wheeling residents put clear, practical plans in place, from basic wills to trusts and powers of attorney. Call 847-797-8000 or contact our Wheeling, IL estate planning attorneys to schedule a free consultation.
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