Wills: In Illinois, a Will is the document in which you appoint guardians for minor children. For many clients, giving consideration of who to appoint as guardian for your minor child is the most difficult part of estate planning. The attorneys at Kiselstein Franckowiak Law Group are able to help guide you through the difficult decision and find a solution that is best for your family. That solution may include appointing different people to be involved with different aspects of your child’s life. One person may be well suited to provide your child’s day to day care and be able to raise them with a philosophy that is similar to yours, while a different person may be better suited to make sound financial decisions to manage the child’s inheritance.
In an estate plan that uses a Revocable Living Trust, the type of Will that is prepared is called a Pour-Over Will. The provisions of the Will state that any assets which you intentionally or accidentally left out of your Trust, should be “poured over” into your Trust after your death. If your Trust is properly funded (meaning all of your significant assets are titled in your Trust name and the beneficiary designations on IRA’s and insurance polices are correctly changed) the Pour Over Will will not have to be used to distribute any assets. At the Kiselstein Franckowiak Law Group, we work closely with you helping to make sure that your assets are transferred to your Trust.