The whole concept of estate planning and hiring a Trust Lawyer In Moline IL is something that most people find to be a little off-putting. There are even people who think the only reason you would need to plan out your estate is if you are rich. Even though you are not rolling in cash, it does not mean you have nothing for your loved ones you fight over after you are gone. Hiring a Trust Lawyer In Moline IL and planning your estate are about getting your affairs in order to make it easier for your family members after you pass away.
The first thing you need to do is draw up a will. The will is where you are going to state who should inherit what. If you have a child under the age of 18 you will also name a guardian in your will. If you have money or assets you want your child to inherit after they turn 18, you would need to name someone responsible for managing them until that time. You should also consider creating a trust. If all of your property is held in a living trust your loved ones are not going to have to go through probate court. Probate court can be both expensive and time consuming which. Furthermore, it is not something that someone wants to deal with after they have had a loved one pass away.
You also need to take the time to make health care directives. Health care directives are what you want to happen with your health care if you are unable to make decisions about your health on your own. For example, if you were on life support your family members would use this information to know if you want to be on life support or if you want them to pull the plug and let nature take its course.
