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Estate Planning CenterProtecting Your Wealth through Illinois Estate PlanningIllinois and federal estate taxes can take a significant portion of your wealth. But they do not have to. With thorough estate planning now, you can minimize the tax consequences and protect your assets for the people you want to receive them. At my Illinois office, I — Barry Hines, Attorney at Law — have helped clients draft complete estate plans for more than 35 years. As your lawyer, I will work to understand your priorities and draft documents that accomplish your goals. Call 217-953-4051 or contact me online to schedule an appointment at my Springfield office. Thank you for contacting Barry Hines, Attorney at Law. Your message has been sent. Call us now or use the form below. Estate Planning - An OverviewEstate planning allows an individual to plan for his or her lifetime objectives and to provide direction about the disposition of his or her assets after death. Estate planning can include wills and trusts as well as powers of attorney and healthcare directives. Estate planning is impacted by state and federal law, and any individual may find that more elaborate or creative legal means are necessary for his or her situation. Some of these more complex techniques include trusts, family limited partnerships (FLPs), and limited liability companies (LLCs). An estate planning lawyer from Barry Hines in Springfield, Illinois, can be an essential ally in assuring that your estate planning goals are understood and carried out. If you have estate planning-related legal questions, call Barry Hines today to schedule a consultation. Wills and TrustsA will is a document that tells a person’s family or heirs and the courts how to distribute his or her money and property. A will is a basic estate planning tool, and a current and valid will is the best way to make sure your property is distributed according to your wishes and your family is taken care of after you’re gone. Many people also use trusts in conjunction with their will, as an independent estate planning tool, or both. Whether you want to prepare your first will or you are interested in updating your estate plan or exploring trusts, an estate planning lawyer can help you tailor a plan to your needs. Powers of AttorneyA power of attorney is a legal document in which a person (the principal) designates and authorizes another person (the agent or attorney-in-fact) to transact business or make certain decisions on his or her behalf. When a power of attorney is in effect, the agent essentially steps into the shoes of the principal and makes decisions that are legally binding on the principal. Powers of attorney can grant broad, general authority (known as a general power of attorney) or they can limit the attorney-in-fact's power to act on behalf of the principal to particular situations (known as a special power of attorney). Because there are many different types of powers of attorney available to address a variety of situations, powers of attorney are extremely useful estate planning tools. If you are interested in drafting a power of attorney, contact our firm to schedule a consultation with an estate planning attorney. Estate Planning Resource Links
How Much Estate Tax Will You Pay?
Federal Estate Tax Laws
Federal Gift Tax Laws
Social Security Administration Retirement Planner
Administration on Aging
Barry Hines, Attorney at Law
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