Three Important Considerations in Setting Up a Will
Drafting a will is a selfless act of service you can do for your beneficiaries. That being said, the actual process of creating your last will and testament can be intimidating. In general, it is better to be overprepared than underprepared – but how much preparation is necessary? An Illinois estate planning attorney can guide you through the entire process of drafting your will, including the most important steps.
At Loire Krajniak Law, LLC, we know how sensitive estate planning can be. We are here to provide you with compassionate legal assistance and personalized advice to help you prepare your last will and testament.
Who Should I Appoint as Executor of My Estate?
The executor of your estate is the person responsible for carrying out the instructions in your will. The executor will be responsible for distributing your assets, paying off any debts from your estate, and filing tax returns, among other duties. You could choose someone who directly benefits from your estate, or someone not named in your will. If you do not appoint an executor, the court will choose someone after your passing.
In Illinois, the laws about appointing an executor are fairly permissive. The executor must be a lawful U.S. resident, at least 18 years old, not currently incarcerated, and of sound mind. In any case, you should choose someone you trust to be the executor of your estate. The ideal executor is someone who will follow your instructions faithfully and who understands the duties entrusted to him or her.
Do I Need to Name a Guardian in My Will?
If you have any minor children or disabled adult children in your care, you may have to make arrangements for guardianship. If there is another caretaker already in the picture – such as your spouse – you should both agree on a guardian.
Choosing a guardian is a very personal decision. Keep in mind that a judge can veto your choice of guardian if it is not in the child’s best interests. As such, you should make sure that the guardian in question is equipped to take care of your children and look out for their emotional needs. Additionally, you can appoint someone as the guardian of your pets in the event of your passing.
How Do I Draft a Valid Will?
Illinois has specific requirements for creating a last will and testament. If these requirements are overlooked, your entire will could be deemed invalid.
First, your will must be in writing. You must also place your signature on the document in the presence of two witnesses. These witnesses must not stand to benefit from your estate in any way. Moreover, you must have "testamentary capacity" when you sign your will, meaning that you are of sound mind. At Loire Krajniak Law, LLC, we can help you follow the correct steps when preparing your will to ensure that it is enforceable.
Meet With a Kane County, IL Estate Planning Lawyer
Sorting out your affairs can be complicated, but you do not have to do it by yourself. At Loire Krajniak Law, LLC, we can provide you with the clear guidance you need to craft a strong will. To schedule a free consultation with our Geneva, IL estate planning attorney, call our offices at 630-448-2406 today.