Most people work their entire lives to obtain their assets and investments. When they get old or pass away, these need to be taken care of. The best way for a person to be sure that they are protected is to hire an estate planning lawyer in Cicero. There are a few ways a lawyer can help.
Help Set Up a Will
Everyone should have a will in place for when they die. Even if an individual does not have a great deal of money to leave to their loved ones, there should still be a will. Many people will use a do-it-yourself kit to make their will, but this can be a mistake. It takes the knowledge of a lawyer to set something up so it is legal and binding.
Protection of the Individual’s Assets and Inheritances
At the time of an individual’s death, federal tax laws can have an impact on their estate. Depending on the value of the estate and the asset level, these taxes can be very costly. An estate planning lawyer in Cicero will find options to try to reduce the impact these taxes will have on the estate with various planning techniques, which will save the heirs a great deal of money.
Help with Managed Care When an Individual Gets Older
If an individual begins to lose their ability to care for themselves, an estate planning lawyer can help. They can help to find an appropriate living facility and help with the payment planning. In many cases, a lawyer can help the individual save on the cost of their care.
Protect the Individual’s Property from Probate
If the contents of a will are not contested, probate can last anywhere from one to two years. If it is contested, it can last several years, which will prevent the individual’s loved ones from getting the money they need to take care of themselves. When an individual hires an attorney, they can find out ways to bypass the probate process, ensuring that their loved ones receive their inheritance immediately.
Hiring an estate planning lawyer in Cicero is the best way for an individual to protect themselves, their loved ones, and their assets when they pass away. For more information, visit Koch & Associates P.C. Attorneys At Law or browse their website.