Who Needs an Estate Plan?

By Burton A. Brown

Who needs an estate plan? The answer to that question is everyone. What if there is not a lot of money? Estate plans are not just about money. Estate plans contain essential documents which everyone needs.

First, there is a power of attorney for healthcare matters. Who will authorize healthcare treatment if you are unable to do so?

Second, there is a general power of attorney for non-healthcare matters. If you are unable to handle financial matters, how will they get done?

Third, there is a trust to designate where and to whom your assets should go. A trust avoids the time and expense of probate and keeps your financial matters private.

Finally, there is a will to use as a catch-all for matters that must be probated.

Other documents—such as a special needs trust for a disabled loved one—may be necessary depending on individual circumstances.

We offer a free consultation to elaborate on the above. Please call the Law Offices of Burton A. Brown at (312) 236-5582 to set up an appointment at our Chicago Loop or St. Charles offices.