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Preparing Your Will: What You Should Not Forget

Death is not something that most people care to think about. However, if you have entered your senior years you should begin the process of estate planning. This is the only way to ensure that your assets and estate are divided and distributed according to your wishes.

If you have amassed a considerable fortune and have shares or are controlling interests in a wide range of enterprises, you must be especially careful in how you formulate your will. At Anthony J. Madonia & Associates, we are prepared with a team of Chicago estate plan lawyers who can help you be methodical, meticulous, and thorough in how you arrange your affairs.

There are two things in particular that you should not forget when making your will:

Control Over Your Estate

If you have built your own company, you want to ensure that you leave control of its operations in the hands of the partners and associates you trust. It is possible to separate operational control of such a business from the wealth it produces. You must get this right, as the future of the company and the livelihoods of all who work in it depend on who gets to make executive decisions when you have passed on.

End of Life Services

If you become incapacitated or in any way unable to make decisions for yourself, you should draw up instructions on who is to make decisions about your care. You can also set down specific instructions as to what the designated person is to do under certain conditions and prognoses.

The Chicago estate plan lawyers at Anthony J. Madonia & Associates can help turn your wishes into legally-binding documents. You can create trusts and divide and distribute wealth and authority as you see fit. You should take care of such matters now and contact Anthony J. Madonia & Associates to determine your best options going forward.