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Local Business

3 things to know about estate planning

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When you have a child, creating a clear will, an advanced health care directive and setting up a revocable living trust is the responsible thing to do for your family.

It is an important life step to plan for the future financial well-being of your family by creating an estate plan. With the help of a qualified law firm, you can minimize the tax consequences of passing your wealth to your family at the time of your death.

Pignatelli & Associates P.C. can help with estate planning and probate issues like wills and trusts, powers of attorney, planning for minor children and distribution of assets. Here are 3 things to know about estate planning:

1. A will is important to estate planning because it puts the testator’s wishes in writing, legally, that dictates where they specifically want their property to go when they pass away.

2. The most important factor for determining who will be the agent in a power of attorney is trust. A client that wants to have a power of attorney in place needs to trust the agent that they designate to carry out their wishes.

3. A lawyer plays many roles in estate planning. Your attorney will work on the forefront of estate planning by helping people create a plan. They also help the decedent’s family understand how to move forward in executing the will, or navigating how to distribute the decedent’s assets absent a will.

You can also ensure that your estate will be distributed according to your values and wishes. Pignatelli & Associates works with you to understand your estate planning goals and advises you on ways to maximize the distribution of assets and money to your heirs.

You’ve worked hard for your money, and you want to see your children and grandchildren benefit. That’s why it is important to create and update an estate plan as part of your overall retirement strategy. Major life changes like the birth of a new beneficiary, marriage, divorce, or when beneficiaries become eligible to receive money are all important factors.

Contact Pignatelli & Associates to schedule a free initial consultation with one of its dedicated attorneys.

Pignatelli & Associates P.C., 102 East Route 30, Suite 1, Rock Falls, IL 61071, 815-626-0500, www.pignatellilaw.com