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Cary, Illinois

Estate Planning Attorneys

Many think estate planning is only for the rich and famous, but that couldn’t be further from the truth. Estate planning is simply the process of arranging whatever assets and property you have per your wishes if you pass away or become incapacitated.

At Diamond Estate Planning Law, we help families in Cary, Illinois set up estate plans and try to make the process as painless and as streamlined as possible.

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Here’s why setting up an estate plan is important – no matter your assets.

If you were to pass away (or become severely disabled where you could no longer make decisions for yourself), your estate plan provides your family with what to do and how.

Diamond Estate Planning Law can develop your estate plan to address tax issues, debts, and the distribution of your assets. 

They can also list out instructions for the care of your children and detail your burial preferences.

We don’t want to make you feel anxious about the future. Instead, when you finish signing your documents, you’ll feel good about the plan you’ve put into place. We take a team approach to make sure that all the details are correct, ensuring that multiple people understand your file and your needs so you don’t end up waiting endlessly for one attorney who’s stuck in court to call you back.

Things that make up your estate include:
  • Car
  • Home
  • Other real estate
  • Checking account
  • Savings account
  • 401K or simple retirement account
  • Investments
  • Life insurance
  • Furniture
  • Personal possessions
  • Car
  • Home
  • Other real estate
  • Checking account
  • Savings account
  • 401K or simple retirement account
  • Investments
  • Life insurance
  • Furniture
  • Personal possessions

Without clear direction on who you want to take care of your kids and what to do with your assets, a judge will try to guess what you wanted and what is in the best interests of your children. 

For the distribution of your assets, the judge will follow the plan that the politicians in Illinois made for everyone called the laws of intestate succession (the laws that apply when you pass away without a will).

A good estate plan can keep you in control and make sure your wishes are protected.

Estate Planning Services in Cary Illinois

At Diamond Estate Planning, we take the time to understand your unique situation and guide you through the process, every step of the way. Our services include:

Advance Directive, also known as a Living Will

A living will is a document that tells your healthcare provider (or hospital) your end-of-life medical care if you become unable to communicate. For example, a living will clarifies whether you want to be on life support, etc.

Asset Protection

A good estate plan and organizing everything in a good trust can protect assets from family disputes.

Estate Planning Resources For Professionals

As a professional, you have a lot of personal exposure because of the possibility of malpractice claims. For many professional licenses, you can never get rid of your liability for negligence or malpractice. If you have a claim that is either declined by your professional malpractice insurance or that exceeds the limits, a good estate plan can protect your assets. Things like a land trust with a bank or title company can keep your name out of the public records for your home.

Trusts

We create trusts that avoid probate (the process of your family going to court after you die). Our trusts clearly explain your wishes to your family and set up protections for minor children and family members on government assistance. Trusts can also direct your family to make charitable donations to causes you care about. Additionally, a trust can make sure specific items (like your grandmother’s wedding ring, a Gutenberg bible, your grandfather’s flag, the vintage Mustang) go to who you want to have them. A trust can spell out your wishes regarding who you want to take care of your children, and even your wishes for your pets. (Because we want to help you make sure Rover still gets his rubber Wall Street Journal every morning!)

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Wills

Wills spell out your wishes to your family. Like trusts, wills can make clear who you want to inherit what, as well as explaining your wishes for your children and your pets. Unlike trusts, however, your family still has to go to court after you die to access your money and distribute your property the way you wanted them to. Your will also becomes public record, whereas a trust does not.

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Wealth Preservation

Diamond Estate Planning can help with wealth preservation by making sure that when someone dies or becomes disabled, proper contingencies are in place. That way, you can control what will happen to your wealth and avoid possible loss or unnecessary legal expenses.

Power of Attorneys (POAs)

A power of attorney designates a person you trust to make health care or financial decisions for you if you can’t do them yourself. You also designate additional, backup people to step in if you first choice is unavailable. There are multiple types of POAs.

  • Health Care Power of Attorney: Spells out your wishes for your medical care, and end-of-life wishes in particular.
  • Power of Attorney for Property: Designates a person or people who can take care of your possessions, financial affairs, and real estate for you, if needed. This avoids needing a guardianship if you are temporarily incapacitated or disabled. Your power of attorney can conduct your affairs for you (write checks, pay bills, buy or sell real estate, etc.)

It’s important to note that these arrangements only work when you are alive. If you are your grandmother’s power of attorney and she passes away, you cannot do anything with her property (bank accounts, investment accounts and real estate) without either probating an estate or using a trust that she set up when she was alive.

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Health care power of attorney for minor children

Parents can set up a health care power of attorney for their children, giving someone other than themselves permission to take the child to the doctor or emergency room. One example could be if you are out of town for a long weekend or a long vacation without your child, or if your child is with a babysitter and you cannot get to the hospital or doctor to get them prompt treatment.

Why Diamond Estate Planning is different

Diamond Estate Planning has years of experience serving the Cary, Illinois community. We make sure that your estate – no matter how big or small – and your family and your family’s interests are protected for years to come if the unthinkable were to happen to you.

We don’t want to make you feel anxious about the future. Instead, when you finish signing your documents, you’ll feel good about the plan you’ve put into place. 

We have a wide network of attorneys with a wide variety of knowledge, which is why the work that we do for you will even help prepare you for the unexpected.

Contact us for your Cary Illinois estate planning needs

Are you ready to put a plan into place for your loved ones? Give us a call today at 779-704-5738 to schedule your first consultation with our team.

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