Crystal Lake Will Preparation Lawyers
Attorneys Serving McHenry County & the Surrounding Areas
Creating a will allows you to protect your loved ones and ensure that your wishes are carried out after your death. That’s important for virtually every adult, yet most Americans don’t have wills.
A 2016 Gallup poll concluded that just 44% of Americans have wills. The numbers vary with age, income level, and educational level, but never approaches full protection. About 75% of upper-income Americans aged 55 and older have wills.
A Will is Important at Any Age
Just 14% of poll respondents under the age of 30 reported having wills. Younger people may feel that making a will isn’t important for a variety of reasons, including:
- Younger adults just starting out in their careers may feel they don’t have enough assets to need a will
- People of all ages tend to believe that they have plenty of time to attend to estate planning later
Though no healthy young adult wants to think about the possibility of unexpected death, accidents do happen and sudden illness does strike. Fortunately, the chances that a young adult will be struck down are low, but that doesn’t mean he or she shouldn’t be prepared. Making a will is a relatively small investment in terms of time and money, and provides significant protection if the worst should happen.
As people age, they tend to take the need to make provisions more seriously. About 68% of Americans aged 65 and older have wills. But, about one in five American men dies before the age of 65. And, of course, 32% of those 65 and older are still unprotected.
Advantages of Having a Will
- Ensuring that your property is distributed as you would have chosen
- Ensuring that someone you trust is appointed to manage your estate
- Providing for your minor children’s care and support
Choosing your own administrator also allows you to talk with that person and ensure that he or she knows where to find important documents such as property titles and information about outstanding debts.
Many people rely on assumptions about who will inherit “automatically” if there is no will. For example, many people believe that if they die without a will, all of their property will pass to the surviving spouse. However, under the Illinois law of intestate succession, the surviving spouse inherits everything only if the decedent had no descendants. If there are living descendants, half of the estate goes to the surviving spouse and the remaining half is divided among the descendants.
This type of statutory split can have consequences beyond the percentage of property a particular heir receives. For example, if the bulk of the estate consists of a single asset, such as a piece of real property, it may be necessary to sell the property in order to comply with the statutory distribution requirements.
Protect Your Loved Ones with a Will
Losing a loved one is a difficult and stressful experience. The last thing you want is to add to make an already-traumatic situation harder on your survivors because you weren’t adequately prepared. Fortunately, preparing a will is a relatively quick and painless process when you work with an experienced attorney.
When you have your will prepared by one of our attorneys, we’ll guide you through the process of assessing what type of provisions you need to make to protect your beneficiaries and then translate your wishes into a well-constructed legal document that makes your goals clear and enforceable.
Why not take the first step right now by scheduling a consultation?