A Probate Lawyer in Rockford, IL Can Help You Avoid Costly Mistakes in Disposing Your Assets When You Die

by | Jul 1, 2022 | Lawyer

If you die without leaving a Will, then your entire estate will have to be probated. The exception is any property or assets held jointly with rights of survivor-ship. Your family will need a probate lawyer to navigate the probate court process and obtain the appointment of a personal representative. Contacting a probate lawyer ahead of the time when he is needed is a good plan. He can discuss the various options available to you that will avoid probate and the cost associated with it. The probate attorney can help you avoid probate and all of the legal entanglements that will accompany it.

The easiest and most simple way to dispose of your assets is to have an attorney experienced in probate law and procedures make a will for you that will dispose of your assets as you wish. Without a will or a legal document to the contrary, you will not have much control over where your assets go.

The Probate Lawyer in Rockford, IL can structure the deed to your home and the documents for corporate bonds and savings plans so they will be automatically be transferred to your spouse or another person without the probate process. In many states, the assets which are not jointly held with rights of survivor-ship are divided amongst your spouse and the siblings.

A living trust is another document to use in disposing your assets. The Probate Lawyer in Rockford, IL can prepare this trust. In simplified terms, there is the name of an heir attached to everything you own. This trust goes into effect when you pass, and it rarely requires probate. However, there may be an occasion when the transfer will have to be approved by the probate court.

A probate lawyer at Crosby Law Firm will structure a trust to minimize any estate taxes which may apply to the estate if a trust does not exist or if the will is not properly prepared. A lawyer experienced in the probate process can help you and your loved ones avoid serious and costly problems. You can feel secure knowing that everything you own will go where you want it to when you die.

Recent Articles