The experienced attorneys at Zaba Law Group, PC are here to assist you with drafting your estate plan and ensuring your desires and wishes are all met. We always start with a free consultation to learn about your objections, explain a typical estate plan, and answer all of your questions. Our singular mission is your complete satisfaction at an affordable cost.
Unlike other estate planning attorneys, we offer one low fee that covers all of the necessary services, including drafting the estate plan, final execution of the documents, and providing your full estate plan in a convenient and professional binder. Most firms will charge you based on the amount of assets you have or how much the attorney believes is the maximum you can afford, but not us! We provide our flat fee pricing upfront, with a cost of only $775 per person, and that fee covers a will, living trust, two powers of attorney (health care and property), and a HIPAA disclosure. Continue reading below to learn more about each document included in our estate plan.
Don’t trust online websites that may charge less but just put your information in a template document and do not provide legal advice. These websites do not understand the legal intricacies of each document and do not customize them for their clients. All of our estate plans are drafted and reviewed by an experienced licensed attorney. We work with our clients and stand behind all of our services to ensure your estate plan is perfect for your given situation and desires.
Once we have the opportunity to review your current situation and speak with you, our experienced estate planning attorneys will draft estate documents that accurately reflect your needs and wishes. Each estate plan is customized to address that client's unique circumstances and goals. Once the documents are drafted, we will email them to you for review, and then upon your approval, we will print the final package for signatures and complete the final execution of the documents.
Without an estate plan, your property will be distributed according to state statute and you will have no say about who receives your assets or who is acting as the administrator on behalf of your estate. Furthermore, failure to have an appropriate estate plan will result in higher probate costs and usually result in more confusion and potential disagreements among family members.
Documents included in our estate plan are as follows:
A will — or "Last Will and Testament" — is a legal document that identifies your beneficiaries and appoints an executor to act on behalf of your estate. A will is always part of an estate plan, and there are three main types of wills. Although many people are aware of the need to have a will, estate planning is rarely as simple as that. By only having a will, you may be failing to take advantage of opportunities and exemptions that can reduce your overall estate fees and expediate the estate administration process. In addition, your will should be reviewed every few years in order to ensure it has been adjusted to reflect any changes in circumstances in your life.
Trusts are often misunderstood to only be necessary for high net-worth individuals. The truth is that a trust can be a huge benefit for many estate plans, even for those with modest assets. A trust is a legal document that can house assets and allows individuals to transfer control of certain assets upon their death. The largest advantage of a trust is that it can allow a person’s estate to avoid probate. Probate is the process through which assets and property are distributed from a decedent’s estate through a court of law. The issues with probate is that it will cost a minimum of several thousand dollars and last anywhere from six months to a couple years. Your estate will generally pay the cost of probate and can delay the amount of time it takes for your beneficiaries to receive their distributions. Trusts can also house assets so if you have a beneficiary who you do not want receiving their assets immediately following your death, such as a minor or special-needs individual. The trust can hold the assets and distribute them at a later date, which a will cannot. Trusts can provide flexibility in your estate plan and help reduce your overall estate taxes. Our experienced estate planning lawyers will be able to explain the advantages and disadvantages of incorporating a trust into your estate plan, and whether one would be appropriate for your specific situation.
Powers of Attorney
A power of attorney for both health care and property is a necessity for most estate plans. Establishing power of attorney for health care allows you to appoint an agent to make decisions on your behalf regarding your health, should you become incapacitated and unavailable to make those decisions for yourself. Meanwhile, a power of attorney for property allows your appointed "agent" to make decisions on your behalf concerning your financial affairs and the management of your property.
More often in recent years, hospitals and medical facilities haven been reluctant to disclose medical information to an agent under a health care power of attorney for fear of running afoul to the HIPAA regulations and the potential liability that comes along with that. Therefore, a HIPAA Disclosure allows medical facilities to disclose all relevant medical details regarding a person to their power of attorney agent when required in order for the agent to make the appropriate and necessary decisions.
Estate planning is more than just how your assets are distributed when you die. There are legal strategies available that allow you to lower your estate and inheritance taxes. If you are planning for your family's financial future, or dealing with the loss of a loved one, it is wise to speak with a qualified estate lawyer who has experience in estate planning and administration. Zaba Law Group, PC's Downers Grove, Illinois estate planning and probate attorneys assist clients all throughout the Chicagoland area with wills, trusts, powers of attorney, and probate responsibilities, at a fraction of the cost that other attorneys charge.
The passing of a loved one is an extremely difficult time. Our estate administration lawyers will assist you through the process and handle all of the legal responsibilities, including probate, guardianship, completing and submitting the federal and state tax returns, and estate administration, allowing you to focus your attention on caring for your family's overall needs. Click here to lean more about our probate/estate administration services.
Contact Zaba Law Group today to discuss your estate planning and administration needs with an experienced lawyer. We currently serve all of the Chicagoland area, with 6 office locations conveniently located throughout the area. We can be reached at (630) 442-0520.