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Illinois Wills
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An Illinois will is a legally binding document that addresses how your assets will be distributed at your death and also names an executor who will assist with the administration of your Illinois estate. You can change the details of a will at any time as long as you are mentally competent. Many people believe that a will explains how you would like your assets distributed. This is true, but it can do more than that. A will can explain how you want your debts, taxes and expenses paid. It can nominate a guardian. More importantly, a will can also assign a testamentary trust. This is a trust that will be established for family members after assets go through probate.
It is necessary to understand that a will alone cannot avoid probate. A will manifests what you would like to happen to your assets, but it must go through a court process in order for the actual distribution of the assets to occur. In essence, when a will goes through probate, it legally removes the deceased’s name from the title of an asset and replaces it with the new owner’s name.
If you have any questions about Illinois wills or would like a referral to an experienced Illinois wills lawyer please do not hesitate to contact us. All inquiries are free and confidential.
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