The new year brings new changes. Whether it’s weight loss, investments, or any other resolution – now is the time to start something new. And one New Year’s resolution to begin is starting or updating your estate plan. In this blog, we will look at one of the Illinois estate planning law changes for 2024.
One new law includes HB2269: All estate-planning documents must be able to be prepared electronically. Previously, only wills were included.
An estate plan consists of legal documents that will take care of you and your family. If you become incapacitated, the plan will help establish who will care for you if you become incapacitated, and help pay for nursing homes. It also manages and distributes your assets after you are gone. This planning is not only for the wealthy few. In fact, many people and their families would benefit from having an estate plan in place.
Some documents included in an estate plan are:
When all of these documents work together, they form a strong and robust estate plan. A coordinated estate plan ensures that there is no confusion about beneficiaries and how you want your assets distributed.
There is quite a bit happening with the Illinois estate planning law changes. In 2021, the Illinois governor authorized the Electronic Wills and Remote Witness Act. This allows wills and other estate planning tools to be witnessed and confirmed remotely using appropriate video conferencing. The new law, HB2269 takes this a step further and states that all documents must be prepared electronically.
You can still keep a paper copy of all documents in your safe, that hasn’t changed. However, giving the ability to prepare all documents electronically gives everyone access to estate planning documents.
These can now be done remotely. Electronic witnesses and signatures open the doors for accessibility.
When making changes to your estate plan, it’s important to understand how it may affect other aspects of the plan. This is why you want to work with an experienced estate planning attorney. It would be horrible if you made changes that were not enforceable, and all of your assets went to your ex-spouse instead of your children.
Learn More: Illinois Probate Law Changes For 2024
Our estate planning lawyers are here for you, in person and remotely. We can help you establish an estate plan built to your specific needs. To talk to a qualified attorney in the Chicago area, contact the Estate & Probate Legal Group at 630-864-5835.
AREAS WE SERVE: Cook, DuPage, Kane, Lake and Will counties.
