Many people still question why they need estate plans. One of the primary reasons for going through estate planning is to have some say in how the probate process will go. Otherwise, the state of Illinois makes the choice of how things proceed and who receives what of a decedent’s estate.
The ability of Illinois residents to express their wishes for what happens to their assets after death is an important part of the estate planning process. Being able to protect family members for the future may be one of the biggest draws of creating an estate plan. Of course, most people do not feel comfortable contemplating their own demise, but the fact is that no one knows when that will happen, and being prepared helps ensure that family members are taken care of when the time comes.
This process is not only for those approaching retirement or beyond. Even young people can benefit from it. Anyone who owns assets of any kind may want to make decisions regarding where those assets will go after the owner’s death. In addition, people retain control over who will handle their estates after death. For instance, if a decedent has not chosen an executor, the court will determine who handles those duties, and it may not be the person that an individual would have chosen.
Having some control over how the probate process will go could give individuals some sense of peace. Knowing that everything is in order and designed to take care of those they love can be extremely satisfying. Estate plans come in many different shapes and sizes, and determining what structure best suits a particular situation may take some assistance and advice.