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Prairie Grove, Illinois

Estate Planning Attorneys

An estate plan can seem like a daunting task. Deciding things like who will take care of your kids if you pass away, or what kind of care you would like when you’re unable to voice those decisions…those are big choices. But they’re important choices.

Diamond Estate Planning is here to help you work through those decisions.

We understand the complexity and uniqueness of everyone’s situations, and will work with you to create a plan that meets your needs. Our Prarie Grove, Illinois attorneys strongly believe in the importance of having a plan, both for your peace of mind, and for the ones you love.

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Estate Planning Explained

You may have heard of the term “estate plan” before, but many people are surprised when they find out all that it encompasses.

Estate planning is the process of carefully preparing your assets and family for the worst-case scenario. A big reason to consider getting a plan in place is that if you don't have a plan for your kids and your belongings, then the state of Illinois will make those choices.

Only you know what is best for your legacy, your home, your family.

Making note of your wishes and organizing them into a concrete plan is estate planning. It is doing what we can to expect the unexpected.

What Our Prairie Grove, IL Attorneys Can Do For You

At Diamond Estate Planning, our priority is your future. We strive to leave our preconceived expectations behind and keep an open mind to what our individual clients need. It is our job to make a plan that works with your life and considers the goals you have for your future. Here are some of the services that we offer:

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 is a legal document that gives one or more persons the right to act on behalf of another person as their agent. A power of attorney is very useful if you become disabled because it can allow the person you choose to conduct your affairs. A power of attorney can give your agent the power to manage your property (real estate, investments, etc.) and your health care decisions. 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.

Contact Diamond Estate Planning today

At Diamond Estate Planning Law, our estate planning attorneys have decades of experience helping the people in or near Prairie Grove, IL set up an estate plan to ensure families have a plan in place for the future. We can help you navigate all of the complexities of setting up an estate plan that benefits your children and will work fervently to protect your interests. Contact us today to set up your free consultation.

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