Estate Planning

McHenry County & Crystal Lake

The internet has provided many useful resources to computer buffs without having to leave their homes. However, the Internet also does a disservice by providing a variety of estate planning forms at nominal cost. With the mistaken idea that they are saving money, people often use do-it-yourself wills and trusts. These documents never accomplish what the person wants them to accomplish.

Many of these wills transfer only personal property - furniture, pots and pans, etc. - without addressing where all serious assets such as the house, investment portfolio and bank accounts will go. If your will or trust does not specify where those important assets go after your death, the state decides for you. The state does not actually take the assets, but statute dictates who receives them.

If you die with or without a will, your estate will be probated. The only way to avoid it is to have a Living Trust. There are numerous reasons a trust might be preferable, and discussing the differences between trusts and wills with an estate planning attorney is smart and cost-effective.

No one knows better than you the legacy you want to leave behind for your loved ones. Make sure your intentions are properly carried out. Work with an experienced, knowledgeable lawyer. Call Law Offices of KML Associates, Attorneys at Law, Karen M. Lavin, Attorney at Law , 850 South McHenry Ave, Suite B , Crystal Lake, IL 60012; 815-261-4894.