When to Begin an Estate Plan for You and Your Spouse

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An estate plan can help protect your assets and maximize the value of your estate. You and your spouse should begin an estate plan as soon as possible to ensure your goals are achieved and concerns addressed. Chicago estate planning lawyers from Anthony J. Madonia & Associates can help you understand why an estate plan is needed and how it can benefit you.

Why should you begin an estate plan now?
Because the future is always somewhat uncertain, you should develop an estate plan now to prepare for the uncertainties of life. This could include death, disability, and other changes in circumstances. If you have children, it is important to take steps now to ensure that they receive the proper care and support if these uncertainties of life arise.

Also, by developing an estate plan now, you can maximize the value of your estate and have a clear plan to follow. This will give you direction and greater peace of mind.

What can an estate plan include?
An estate planning law firm in Chicago IL can assist in developing a variety of estate planning tools, including:

  • Wills
  • Trusts (inter vivos, testamentary, special needs, pooled, pass-through, etc)
  • Powers of attorney
  • Living wills and durable powers of attorney
  • Healthcare directives
  • Financial planning
  • Tax planning
  • Business succession plans

Chicago estate planning lawyers can assess your situation and wishes to develop an estate plan that is specific to your situation. We can help you understand your options, which will allow you to make informed decisions about your estate.

The estate planning law firm in Chicago IL of Anthony J. Madonia & Associates strives to assist our clients in developing a comprehensive estate plan that is efficient and personal to your needs. Contact us to learn how we can help.