Frequently Asked Questions

Below is a list of our most frequently asked questions.  Contact Us directly if you have any more questions

What is GoEstatePlans.com?

GoEstatePlans.com is a website that offers Illinois residents a platform for which to receive a comprehensive and customized Illinois Estate Plan (e.g. a Will, Living Trust, Power of Attorneys , and more) at an affordable price, prepared by actual Chicago estate planning attorneys, and without having to leave the comfort of your home.  GoEstatePlans.com is operated by a Chicago based law firm, with an expertise in Estate Planning.

What is Estate Planning?

An Estate Plan refers to the establishment of instructions in the form of legal documents providing for the administration, management, and distribution of one’s property and assets in case of death or incapacity.  Failing to prepare a proper Estate Plan with our Illinois estate planning attorneys can result in significant and unnecessary risks, costs, and burdens for your family and future generations upon your passing; some of which are as follows:

  • Your estate may be required to go through Illinois Probate which can result in thousands of dollars of unnecessary court costs and attorney’s fees;
  • There is a significant likelihood your assets and property will pass to your family according to Illinois Probate laws and only when approved by a Judge
  • Your assets and property become part of a formal Illinois Probate process which is a public proceeding;
  • There is an increased likelihood of family emotional burdens and conflict regarding the deceased’s assets;
  • Much of your assets can not be transferred or distributed to your loved ones for months or longer;
  • Increased potential for Federal and Illinois Estate tax and creditor liability for your family; and more.
What is Our Pricing?

Our prices are approximately half the price of typical comprehensive and customized Illinois Estate Plans.  Prices are as follows:

  • Single Person Estate Plan will cost $795.00
  • Married Couples or Domestic Partners Estate Plan will cost $995.00
What will I receive in my Estate Plan?

Our Illinois Estate Plans consist of the following:

  • Last Will and Testament
  • Living Trust
  • Declaration of Trust
  • Certificate of Trust
  • Assignment of Personal Property
  • Guardian Nominations
  • Illinois Power of Attorney for Property
  • Illinois Power of Attorney for Health Care
  • Living Will
  • HIPPA Authorization and Release Form
  • Final Disposition Authorization and Instructions
  • Personal Property Distribution Instructions
  • Summary of Estate Plan and Designated Persons
  • Trust Funding  Instructions
  • Signing Instructions
What is Probate?

Probate is the legal process through which the State of Illinois courts sees that, when you die, your debts are paid and your assets are distributed according to your Will.  If you do not have a valid Will, your assets will be distributed according to Illinois law.  Having a proper Estate Plan prepared by our Chicago estate planning attorneys can allow you to avoid Probate

Illinois Probate is:

  • Expensive
  • Can take months or years to complete
  • Has no privacy
  • Gives your family no control
What is a Trust?

A trust is a legal document which sets up an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own trust, keeping full control over all property held in trust until your death; at which time your successor trustee is appointed. Our Illinois estate planning attorneys can draft a trust to achieve a multitude of objectives. At its most basic level, however, a trust keeps your assets and property out of the costly process of Illinois Probate, avoids having your financial circumstances become public information, maintains your control over your assets, increases one’s ability to apply tax saving and gifting techniques after they pass, creates more protection from creditors and third parties, and overall more flexibility and predictability in how your assets will be distributed after your death.  Our Chicago estate planning attorneys will create a Trust customized to your needs and circumstances.

Do I have Assets to Protect?

If you are visiting this website chances are the answer to this question is “Yes.”  The word “Estate” in “Estate Planning” just means your assets.  It doesn’t matter if their value is $100,000 or $100,000,000 as if you have assets, you need to make a plan for them.  You need to decide who will manage them if you will not be able to and who will benefit from them after you.  GoEstatePlans will allow our Chicago estate planning attorneys to work with you to help you answer these questions and make the necessary decisions.

Your assets include the following:

  • Real Estate
  • Automobiles and other vehicles
  • Bank Accounts, Money Markets, CD’s etc.
  • Retirement Accounts
  • Investment Accounts
  • Life Insurance
  • Business ownership interests
  • Stocks, Bonds, Mutual Funds, etc.
  • Personal Property (e.g. furniture and art)
  • Personal Effects (e.g. jewelry and clothing)
What is a Last Will and Testament?

Your Living Trust will be your main Estate Planning document; however, your Last Will and Testament will address the following:

  • It will state that all your assets should be added to the Living Trust and distributed according to its terms.  If you forget to put an asset into the Trust, your Will also includes a way to move it into the Trust after death.
  • Guardians for minor children are appointed here
  • Specific personal property and effects gift instructions are stated in the Will.

Our Illinois estate planning attorneys can offer you guidance on making these decisions.

What is a Power of Attorney?

An Illinois Power of Attorney  lets you name someone to manage your financial affairs if you are unable to do so but still alive.  For example, if you become incapacitated, your Illinois Power of Attorney will be able to act on your behalf to address any financial affairs while you are incapacitated.

What is an Health Care Power of Attorney?

An Illinois Health Care Power of Attorney will name a person to make health care decisions on your behalf if you are unable to make them for yourself, and to give health care instructions about the type of medical treatment you want, including end of life care, organ donations, and burial instructions.