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Why wills are so important to successful estate planning

Most Illinois adults earn livings in one way or other. While some people sacrifice careers to stay home and raise families, many still earn incomes through telecommuting opportunities. Others are solely dependent on a spouse or other family member for financial support. No matter what a person’s particular circumstances happen to be, if he or she wishes to protect assets and provide for loved ones after his or her own death, the estate planning process is a valuable tool toward achieving such goals.

key document in most estate plans is a last will and testament. Executing a will is perhaps the best way to avoid family disputes when it comes time to administer an estate. It is also the easiest way to ensure that one’s assets are distributed to the beneficiaries of one’s choosing rather than having a probate court decide who should get what according to intestacy laws in Illinois.

Accumulating wealth or at least being able to make ends meet is a common goal for most adults. Executing a will is a way to protect one’s assets and also to maintain a certain amount of control over what happens after one’s death. The more thorough and clear the terms of a will are written, the less likely that it may be contested down the line.

It is often helpful to discuss the estate planning process with a financial adviser. Many Illinois residents also enlist the assistance of experienced probate litigation attorneys. An attorney can make recommendations as to how to avoid probate, if appropriate, and can also remain on hand to make any changes or updates to a will, as well as other documents, as needed.

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