Welcome to Dynasty Law, your trusted partner in estate planning. We understand that estate planning is a crucial step to ensure your desires are met and your family's future is secure when you're no longer here. With our help, you can navigate the complexities of estate planning and gain peace of mind.
Dynasty Law is dedicated to serving the Chicago community in matters of probate, trusts, and estates. We offer a comprehensive range of estate planning services tailored to your unique needs.
OUR ESTATE PLANNING SERVICES:
However, estate planning encompasses more than just these aspects. We go above and beyond to address your long-term plans, whether they are straightforward or highly complex. Our meticulous attention to detail and extensive legal experience has established us as one of Chicago's premier estate planning firms.
IS A WILL ENOUGH?
You might wonder if a will is sufficient or if you need additional measures. While having a will is a crucial step in ensuring your wishes are honored and assets properly distributed, there are other considerations to keep in mind. Vital healthcare decisions, for instance, should not be overlooked. Who will make decisions regarding your healthcare when you are unable to do so? A healthcare power of attorney and living will are legal documents that express your healthcare preferences when you cannot communicate them yourself.
Another critical component of estate planning is beneficiary designations. Some assets, such as insurance plans, pensions, and others, can be passed on to heirs without being explicitly mentioned in a will. It is essential to ensure that the appropriate beneficiaries and contingency beneficiaries are specified for such assets.
Estate planning may also include a durable power of attorney, letter of intent, or guardianship designation. Determining which estate planning essentials are relevant to your situation can be daunting. That's where our legal team at Dynasty Law comes in. We are here to provide answers, review your circumstances, and assist you in crafting an estate plan that addresses all your needs.
WHY IT'S CRUCIAL TO ESTABLISH AN EXECUTOR FOR YOUR ESTATE?
Establishing an executor for your will or trust is generally in your best interest. An executor is responsible for managing the estate, handling the probate process, protecting assets, paying creditors, and distributing assets according to your wishes. By nominating an executor you trust, you ensure that your wishes are upheld and your assets are distributed as intended. Executors can be beneficiaries as well, whether it's a child, spouse, or a neutral third-party chosen based on your comfort level and specific circumstances.
Selecting the right executor can be challenging, and that's when an experienced estate planning attorney becomes invaluable. They can offer an objective, outside perspective to help you make the best decision. An attorney provides the necessary legal support and advice tailored to your circumstances.
HERE ARE THE REASONS HAVING A LAWYER IS ESSENTIAL!
Planning your estate is no easy task, and attempting it without professional guidance may lead to costly mistakes. Estate planning must meet certain standards, including addressing tax considerations, to ensure your property is distributed as desired. At Dynasty Law, we have the expertise to guide you through the process, of tailoring an estate plan that meets your specific needs. Our dedicated attorneys are here to provide the support you need.
Whether you are just starting to build your estate or want to protect the wealth you've accumulated over a lifetime, the estate planning attorneys at Dynasty Law can provide the guidance you require. We specialize in same-sex estate planning and have extensive experience in advising clients on trust, estate, and tax laws. Our up-to-date advice helps you plan your estate effectively and protect your hard-earned assets.
WHO GETS MY BELONGINGS IF I DON'T HAVE A PLAN?
Without a valid estate plan, your property will be distributed according to state probate laws, which may not align with your wishes. For instance, in Illinois, if you have a surviving spouse, all of your property will go to them. If you have surviving children but no spouse, your children will inherit everything. However, if both a spouse and children survive you, the estate will be divided equally between them. The distribution becomes more complex if you are not survived by a spouse or children, involving parents, siblings, and other relatives. In rare cases where there are no surviving relatives, your estate will go to the state of Illinois.
WHAT ARE THE RISKS OF NOT HAVING AN ESTATE PLAN?
Not having an estate plan can lead to significant consequences. First, the probate process becomes more expensive without a plan in place, as unnecessary fees can accumulate. Additionally, the implementation of your estate can be delayed, and your privacy may be compromised. Court records are accessible to anyone during probate, allowing family members, organizations, and creditors to challenge your estate plan's validity. By working with our attorneys, you can avoid unnecessary expenses, delays, and loss of privacy.
HOW MUCH WILL MY ESTATE PLAN COST?
The cost of estate planning depends on various factors, including the size and complexity of your estate. However, estate planning doesn't have to break the bank. At Dynasty Law, we strive to accommodate your financial capabilities. We offer a free consultation to assess your needs and provide practical solutions within your budget. Don't compromise your estate planning by doing it alone to save money. Our experienced lawyers ensure your documents are prepared correctly, providing you with peace of mind.
CONTACT US TODAY!
Contact the estate planning attorneys at Dynasty Law today to secure your assets and protect your loved ones' future. As laws and regulations evolve, we stay up-to-date to offer the best advice for planning your estate and safeguarding your assets. Don't wait until it's too late—start your estate planning journey by scheduling a free consultation at (312) 248-4304 or click here to schedule online.
We also specialize in same-sex estate planning, ensuring that your specific needs and concerns are addressed with empathy and expertise. Our team at Dynasty Law is committed to providing the highest level of service and support for all your estate planning requirements.