A common misconception about estate planning is that this process should only be completed by people who have literal estates, but this is not the case. Your estate consists of your possessions, including your home, car, investments, life insurance, and other possessions, and estate planning is an important step in ensuring that your choices are followed upon passing away or being otherwise unable to make decisions about your estate.
An experienced Illinois estate planning lawyer can help you navigate the complexities of this process and help you settle vital decisions about your estate.
What Documents Are Included in Estate Planning?
While the planning of every estate is different, there are a few types of documents that are commonly created for most estates. You may need to include one or all of these documents as part of your estate plan.
- Last will and testament – outlines how your wishes for taking care of your pets, children, or other dependents and how you want your possessions to be distributed.