Estate Planning Peoria IL

Don’t Go Without Estate Planning in Peoria IL

Whether helping your parents as they age or preparing for your own future, estate planning is a necessary process every family should commit to. With an estate plan, you legally establish a procedure for how your wealth, properties and possessions should be handled upon your death. However, without an estate plan, your estate decisions are left to probate. If you prefer to keep control of your estate with family and loved ones, Rochford & Associates can assist with estate planning in Peoria IL.

The Essential Components of Your Estate Plan

Rochford & Associates has helped countless Illinois residents prep for the future through our extensive estate planning services. Our attorneys assist clients in identifying and organizing assets, creating legal estate documents, and initiating an estate plan when the time comes. As a part of the process, we establish the most essential components of any estate plan with our clients: wills, trusts and power of attorney.

• Wills
  • A will is the most crucial document in all your estate planning. Your will dictates how your estate should be handled upon your death. This handling includes factors such as beneficiaries, a list of assets, funeral/burial preferences, the executor of your estate, etc. A will is the best way to have control over your estate upon your death. Otherwise, without a will, your estate’s division is left up to probate court.
• Trusts
  • A trust is similar to a will in that it gives instructions on how your estate should be divided among beneficiaries. However, trusts go into more detail, creating a fiduciary arrangement that allows a trustee to hold assets on behalf of beneficiaries. Once the conditions of a trust are met, the assets are released to beneficiaries. Trusts are especially beneficial for avoiding probate court, as finances put into a trust are considered separately from a will.
• Power of Attorney
  • It’s best to be prepared for any scenario. Through power of attorney, such preparation is possible! Power of attorney places an individual (of your choosing) in charge of your property, medical and financial affairs. However, power of attorney only takes effect if you are ever rendered unable to make decisions for yourself. Such a scenario can occur if your cognitive ability is impacted due to disease or injury (comatose, late-stage dementia, etc.).

How Else Can We Help?

Outside of estate planning in Peoria IL, there are a variety of legal matters Rochford & Associates can assist with. Our legal professionals are experienced in numerous practices, allowing us to offer extensive legal services related to most personal legal issues. For example, our attorneys engage in civil litigation, helping clients receive compensation for auto accidents, medical malpractice, defective products and other personal injury cases. The other legal practices we specialize in include:

• Real Estate Law
• Probate Law
• Landlord-Tenant Law
• Business Law
• Employment Law
• Family Law
• Social Security
• Federal Law

Contact Our Office

Estate planning in Peoria IL is something no family should go without. To get your estate plan started with the help of legal professionals, give Rochford & Associates a call. Contact us today at 309-637-5322 to request a free consultation. We are located at 101 SW Adams St, No 700, Peoria, IL 61602.