Experienced Oak Brook, Illinois Attorney
Assisting Clients with Estate Planning Criminal Issues
Michael V. LoCicero, Attorney at Law, represents clients throughout DuPage County and Cook County; including the city of Chicago and its suburbs. Attorney Michael provides professional legal representation in estate planning.
Estate Planning in DuPage and Cook Counties
Planning an estate involves creating a strategic plan to ensure that your assets will be used for your benefit during your lifetime, but also to ensure the smooth administration of your final affairs upon your passing. Not having your affairs in order prior to your incapacitation or death can lead to many complications. Some of the common areas of estate planning include:
- Wills - With a simple will, one must name an executor, appoint guardianship or custody to children and decide how funds will be distributed.
- Living Will - A living will contains your written direction regarding the further health care decisions to be made when you are unable to decide for yourself.
- Trusts - A living trust is established while a person is alive. It is a documented agreement that entrusts someone else to manage your assets. A major benefit of a living trust is having the peace of mind to know your affairs will be handled should you suddenly become ill. Special needs trusts protect any of your dependents with disabilities and make sure they are provided for in the event that something happens to you.
- Powers of Attorney – A Power of Attorney entrusts someone else to manage your affairs. A Power of Attorney for Healthcare entrusts someone else to manage your financial affairs because of your inability or for a limited time or specific purpose. Powers of Attorney for Finance lets someone access your funds, handle your finances, and manage your property.
- Estate Probate - Probate is the term used to describe the required legal process in which your estate is administered because your estate contains assets, in your name only, at the time of your death, which exceeds $150,000 in value. Estate probate usually involves issues such as the payment of debts, liquidation of assets, eventually leading towards the distribution of your net assets to your designated survivors. Once appointed by the court, the executor of the will is entrusted with following the terms of your will.
If you need assistance and/or representation in any of these areas of the law, contact Michael V. LoCicero, Attorney at Law, today at 630-932-7007 for a free consultation.