Important Information on Estate Planning

Estate planning is something that many people avoid getting to, and for a variety of reasons. In fact, recent polls suggest that more than half of all Americans do not even have a simple will. While the conversations may be tough and uncomfortable to have, the reality is that estate planning is absolutely essential and should be done immediately. Far too many people falsely believe that estate planning is only to be done by wealthy individuals. However, planning for the future and going through the estate planning process is important to everyone, regardless of how much money you and your family may have. Understanding the basics of estate planning often makes it feel less burdensome and overwhelming, so today we will provide some useful information regarding the overall planning process.

Take a look at the following fast facts on estate planning:

• All Illinois adults will need an estate plan that includes a will, a durable power of attorney (for both finances and health care), and a living will
• Illinois residents are also advised to consider probate-avoidance
• Even though estate planning is often associated with death, it is important to know that an estate plan is actually in effect during your lifetime
• Failing to create an estate plan will often leave your family with heartbreaking arguments that can get very ugly during the most difficult time
• Determining who will manage your estate is far more important than actually determining who will get what
• Estate planning is a safeguard for your children, from both creditors and potential lawsuits
• Non-traditional families in particular need to make sure that their assets are distributed correctly

The estate planning process is something that must be regularly updated to keep pace with a variety of changes in your life. The Law Office of Brenda Murzyn, P.C. provides sophisticated and personal estate planning and probate services to all clients, regardless of the size of their holdings. Our experienced staff are committed to providing the individualized services and timely response and follow-up that are essential to meeting each client’s personal needs.