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Searching for a lawyer to create a will in Chicago?

Testamentary wills are a small part of the estate planning process, but play an important role. As the most common type of will, they are formally prepared documents that are signed in the presence of witnesses. These documents dictate what will happen to your property after you die. These wills can also name an executor as the person who is authorized to manage your estate after you pass. If you do not name an executor, the court will name one for you.

If not the same person, someone named as a beneficiary on financial accounts, insurance policies, or other assets will take precedence over the person named the beneficiary of your will. This means that if you named an ex-spouse as an account beneficiary, but your current spouse is named as the will beneficiary, the ex-spouse will receive the account assets after your death. For this reason, it is important to keep financial accounts and insurance policies up-to-date.

Within a will, guardians may also be named for minor children, and instructions can be included on how debts and taxes should be paid. In order to make a will, you must have the capacity and be of sound mind. Simply stated, you must know what property you own, and what it means to leave it to someone after you pass. It must name beneficiaries for at least some of your property and assets, and contain your signature. Two witnesses—who are not beneficiaries—must sign the will in order to prove you have the capacity and are of sound mind to draft such a document.

Wills do not have to be notarized, but having it notarized will make the probate process easier. Lawyers are able to help clients draft a will that specifically states what is going to happen to their property and assets after they pass. Things like community property, life insurance proceeds, policy payouts, retirement assets, joint tenant assets that have rights of survivorship, and payable on death accounts are not covered in wills, but an estate lawyer can discuss how such things can be handled after you decease. Contact our Chicago estate planning attorneys to see how they can help you!

Ferris, Thompson & Zweig: A Firm with Experience

If you do not create a will before you pass away, you will die intestate. This means that the State of Illinois will control the division of your assets. The state divides your assets based on a set formula, which can result in emotional and financial problems for members of your family. It is never too early to draft a will, and an attorney at our firm can help clients throughout the entire estate planning process. If you have a will, and wish to change a beneficiary or information in the will, you can either write a new one entirely with the aid of one of our lawyers, or make additions to the old will by using a codicil, or an amendment. Do not put off writing a will. Contact our office today to schedule a free consultation!

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Ferris, Thompson & Zweig, Ltd. - Chicago Estate Planning Attorney
Located at 1 East Wacker Drive, Suite 510,
Chicago, IL 60601.
Phone: (312) 836-0777.
Website: .
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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

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