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Estate Planning Attorneys and Funeral Homes

Colonial Chapel Funeral Home & Crematory • Aug 05, 2019

Preplanning for your eventual passing isn’t only about choosing your funeral home and flower arrangements. You also need to make plans for your estate and finances.

When most people think preplanning, they picture flower arrangements, memorial services, buffet lunches, caskets and funeral homes in Oak Forest, IL. However, preplanning is also about making plans for your estate and finances after you’re gone. Estate planning attorneys are ideal for helping you do just that.

Estate planning attorneys are specialized lawyers that can help guide you through the process of deciding how you want to divide your assets, gathering and preparing necessary post-life documents, and making sure your wishes are carried out after you’re gone. These attorneys are important because sometimes, without proper legal advice, affairs are left up to family members that are unsure of your wishes, or, in the worst case, might fight over the decisions. Estate lawyers can help you draft, review, and authorize important documents such as:

Beneficiary designations
Last will and testament
Durable power of attorney
Trust
Medical duable power of attorney

Most estate-planning attorneys charge a flat rate for prepping your desired documents, and a per hour rate for more complicated tasks like handling disputes or carrying out the will. Be sure to decide on rates up front with your estate-planning lawyer to protect yourself from getting over charged. With these fees in mind, do you really need an estate-planning attorney?

Most people do not, and can use the money for other things. However, if any of the following applies to you, you should consider hiring one:

Your net worth is more than $5 million. If you have a large net worth, your estate might be subject to estate tax. In that case, it’s a good idea to consult a lawyer to make sure that your beneficiaries get what you wish as opposed to it being taken by taxes.
You have special circumstances. From children with disabilities to foreign property or heirs, special circumstances and finances are tough to navigate.
You own large or many properties. Dividing up property can be tricky as titles are held in many ways and there are often confusing technicalities that you might be unaware of. In some cases, you might not even have the right to bequeath certain properties. An experiences lawyer can help guide you through these confusing laws to make sure your property is dealt with appropriately.

If you don’t know if you need an estate-planning lawyer, it couldn’t hurt to get a consultation. Most lawyers do charge fees even for consultations, but sometimes peace of mind is worth the small cost.

If you have more questions about estate planning and attorneys, or want to know more about preplanning for your passing, just reach out to Colonial Chapel Funeral Home & Crematory. We are an experienced Oak Forest, IL funeral home, and would love to help you in any way we can. Please visit us at 15525 S 73rd Ave Orland Park, IL 60462, or give us a call at (708) 532-5400 to learn more about what we can do for you.

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