Believe it or not, nearly everyone has an estate, which is comprised of everything you own — car, home, checking and savings accounts, investments, life insurance, and personal possessions. It’s very important, then, to put the proper time and effort into your estate planning so your loved ones don’t have to scramble to distribute your possessions and manage your estate.
But too many people don’t plan. Statistics show that more than half of Americans die without a will or estate plan in place, which can leave families in a difficult spot trying to manage a loved one’s assets after they’re gone. And because will, probate and trust legal matters can be tedious and complex, an estate planning attorney expertly can help advise clients on getting their affairs in order to prepare for the possibility of mental incapacitation and eventual death.
The Rockford, Illinois-based Law Office of Paul M. Marriett provides administrative will, probate and trust services to provide executors the estate planning counseling they need during difficult times. As part of the process, here are some common terms you should understand when undertaking any estate planning process.
Q & A
What is probate?
Probate is a court-managed process of administering the estate of the deceased.
Through probate, debts are paid and distributions are made to heirs, beneficiaries and those designated in a will. If the deceased left a professionally drafted will, the probate process often gets administered rather efficiently. If the decedent did not leave a will or there is a dispute about the validity of the decedent’s will, however, the probate process can be lengthy, tedious, time-consuming and costly.
A living trust, when paired with a will, can be used to avoid the probate process altogether.
What Will, estate planning and trust administration services can the Law Office of Paul M. Marriett provide?
Rockford attorney Paul M. Marriett can advise family members and trusted associates through the will, probate and trust administration process after the death of a loved one.
During this trying time, we focus on providing caring and professional legal advice, helping clients through the will, probate and trust administration so they can focus on spending time with their family and loved ones.
The Law Office of Paul M. Marriett provides the following types of services during the will, probate and trust administration processes in Illinois:
- Educating executors, trustees and beneficiaries about the probate and trust administration processes
- If probate is necessary, ensuring that the decedent’s will moves through the probate process quickly and efficiently
- Ensuring efficient trust administration
- Preparation of state and federal estate and inheritance tax returns
- Consultations with the trust and estate accountants to ensure that distributions are made in a tax-effective way
- Advising heirs and beneficiaries, when asked and appropriate, regarding post-mortem estate planning techniques to minimize future tax implications
How can I speak to a lawyer about estate planning?
The Law Office of Paul M. Marriett provides compassionate, professional and practical will, probate and trust administration services to individuals throughout Illinois, Rockford, Machesney Park, Loves Park, Roscoe, Rockton, Freeport and the surrounding communities. Call the Law Office of Paul M. Marriett at (815) 391-0089 to set an appointment, or contact us securely through the form on this page.