Experienced Representation In Business Law, Estate Planning And Tax Law

Customized Estate Planning Services In Godfrey

When it comes to asset protection and making the necessary arrangements for your future, the benefits of proper estate planning simply cannot be overstated. At Farrell, Hamilton & Julian, P.C., we help individuals, families and businesses in Godfrey create comprehensive and effective estate plans that account for their specific needs and goals.

Experienced In Estate Planning And Probate Administration

Since 1965, our firm has managed simple and complex estate plans. We help clients create documents and implement a full range of estate planning tools, including:

Wills
Living wills
Trusts (living trusts, testamentary trusts and charitable trusts)
Guardianships
Powers of attorney
Business succession plans
Administration of trusts
Estate distribution
Estate tax returns
Probate
Probate litigation

Many of our attorneys have accounting degrees or are certified public accountants (CPAs). Their educational backgrounds ensure that we account for any tax implications as we develop estate plans that meet your specific needs.

Careful Preparation Of Estate Plans

Proper estate planning requires careful preparation. With that in mind, we will take time to discuss your specific vision for the estate plan. We will also review any tax matters, including the preparation of federal and state estate tax returns, as well as your goals for a living will and power of attorney for property and health care.

Together, we can create a comprehensive estate plan designed to achieve your objectives, minimize legal complications and spare your family unnecessary anguish.

Estate Planning And Elder Law Issues

Estate planning encompasses so much more than just determining beneficiaries and dividing assets in preparation for your death. We have experience with sensitive and complicated elder law cases and will help you make important financial decisions as you grow older. This includes arranging assets and income so you are able to qualify for Medicaid benefits.

Small Estate Affidavits

When a decedent’s personal estate is valued at less than $100,000, the estate can be handled through the small estate affidavit process in lieu of probate. Through the small estate affidavit process, property and titles can be transferred, assets can be distributed and an estate can otherwise be finalized.

Frequently Asked Questions (FAQs) About Estate Planning

Many misconceptions surround the topic of estate planning. If you are considering establishing a plan for your future, you likely have many questions. At Farrell, Hamilton & Julian, P.C., we will help you identify your estate planning needs, answer any questions you might have and create a plan that achieves your goals.

Contact our firm at 618-208-0263 to schedule a consultation, where we can discuss your needs and answer all your questions. In the meantime, keep reading for answers to some of the most commonly asked questions about estate planning.

Why Do I Need An Estate Plan?

Many individuals assume that estate plans are not necessary because state law will distribute property appropriately to family members. To a certain extent, that may be true. However, when you fail to establish a valid estate plan, you give up important rights regarding:

How your assets are allocated and who gets what
Maintaining control over your health care decisions in the event of incapacity
Appointing a guardian or conservator for minor or special-needs children

Having an estate plan in place protects your family from future conflict, minimizes estate taxes and ensures that your wishes are known.

What Is Included In An Estate Plan?

What you need to include in your estate plan will vary based on your specific circumstances. Depending on your situation, you may need to incorporate the following into your plan:

A will and/or trust
Beneficiary forms for retirement accounts, bank accounts, insurance policies, etc.
Guardianship or conservatorship designations
Durable and statutory powers of attorney
Letter of intent

To better understand your estate planning needs, get the help of an experienced estate planning lawyer at Farrell, Hamilton & Julian, P.C., today.

What Happens When Someone Dies Without A Will?

If a person dies intestate (without a will), the state laws will take effect. Like other states, Illinois has a “default” will that determines how and to whom your property gets distributed should you die before establishing a valid will.

It Is Never Too Late To Plan For The Future

We help our clients make proactive decisions to help their families in the future. Schedule a consultation with one of our experienced estate planning lawyers today.