You’ve worked hard your entire life and are proud that you can leave an inheritance to your children. And setting up an estate plan can help ensure that what you leave behind will be used in the best way possible. This includes making sure the inheritance is protected against governmental agencies, over-taxation, creditors and more. A good estate plan will help protect your child’s inheritance.
Every family situation is different, and there is no specific way to build an estate plan that will fit everyone. But speaking with an experienced estate planning attorney can help you build a plan that works best for you.
Some ways to protect your child’s inheritance are:
Dying without an estate plan runs the risk of reducing your child’s inheritance. You may want to leave specific items to each child. Or maybe you are close to your nephew and want them to have your car after you are gone. But without a will, a trust, or any estate plan, the courts will decide who to distribute your property.
Not having an estate plan also leaves your child’s inheritance open to creditors, over-taxation, and other people looking to cash in on your assets. Working with an experienced estate planning attorney can help ensure your final wishes concerning your assets are fulfilled.
Contact the experienced estate planning attorneys at Estate and Probate Legal Group to discuss how to protect your child’s inheritance. Call us today at 630-864-5835.
AREAS WE SERVE: Cook, DuPage, Kane, Lake, and Will counties