While a good estate plan will help you determine how your assets will be managed after your death, it can also help you protect your loved ones. When you consult estate and trust attorneys in Woodstock, IL, you can learn more about the various legal tools that can help you ensure your spouse or children will be financially and legally protected. There are a few things you can do to ensure your family will be safe if you become incapacitated and unable to care for them.
Choose a Guardian
If you die intestate or without a will, the courts will decide who will have guardianship of your minor children. Your lawyer can help you avoid that by drafting a will that establishes your choice for the guardian of your children.
Set Up a Special Needs Trust
If you have a child who is disabled or otherwise unable to fully care for themselves, your estate planning attorney can help you establish a special needs trust. This is a trust that holds money that you set aside for your disabled child and distributes the funds according to a predetermined payment schedule.
Establish Powers of Attorney
Your estate and trust attorneys in Woodstock, IL, can also help you set up powers of attorney that will take effect if you become physically or mentally unable to act on your own behalf. These documents allow you to choose people to make medical decisions on your behalf and manage your finances in your place.
You can start creating a comprehensive estate plan when you schedule a consultation with MPS Attorney by visiting website.
