Video Wills – Are They Right for Your Estate Planning Needs?

DuPage County estate planning lawyersTalking to your family through video and letting them know your wishes once you are gone sounds like an innovative idea. At the very least, it is indicative of the times, but is such a method considered valid by the courts? Learn more about the validity of video wills, including how to determine if they may be appropriate for your estate planning needs, and discover where you can find quality legal assistance with your Illinois will or living trust.

Are Video Wills Legally Binding?

Video wills are not typically considered valid by probate courts or judges. The reasons behind this are many, but one of the biggest concerns is that a judge may be unable to determine whether the person speaking was of sound mind at the time of the video's creation. Furthermore, the judge may be unable to determine if the person was under any form of mental, physical, or emotional duress at the time that the video was made. As such, only a written and notarized will would be considered valid by the courts.

Combining the Best of Both Worlds

It can be disheartening to learn that video wills are not considered legally valid, especially if you had your heart set on making one. Thankfully, you do not have to throw out the idea completely. While a video will cannot replace a written will, it can supplement it quite well. It can give your will a more personal touch. It can comfort your family, long after you are gone. Video wills even give you the chance to deliver semi-private or intimate messages to those you love most, so do not throw away your idea. Instead, find a way to combine the best of both worlds; create both a written will and a video one for lasting, loving impact.

How Our DuPage County Estate Planning Attorneys Can Help

Estate planning is a complex process, with numerous potential consequences for your heirs. Protect them, and your estate, with help from an experienced estate planning lawyer. Able to examine your specific situation, an attorney can provide you with tailored and creative solutions to help ensure your estate planning needs and wants are met.

Backed by over 40 years of legal experience, Stock, Carlson, Oldfield & McGrath, LLC is ready to serve you. Caring and attentive, our DuPage County estate planning lawyers will walk you through your options so that you can make the most informed decisions possible. Schedule your personalized consultation to get started. Call our offices at 630-665-2500 today.

Source:

http://www.ilga.gov/legislation/ilcs/ilcs4.asp?ActID=2104&ChapterID=60&SeqStart=5300000&SeqEnd=6800000

Tips for Protecting Your Children with a Carefully Crafted Will

DuPage County wills and trusts attorneysNo parent wants to think about dying before their children reach adulthood. Sadly, it does happen, and often before the parents have had the chance to create a will. This can leave children in limbo, create problems for their financial future, and ultimately impact their quality of life. Know how to protect your child with a carefully crafted will.

Designate First Responders

While most parents know who they would want to serve as a long-term guardian for their children, and may have even already discussed the idea with the selected person, many fail to consider what will happen in the minutes, hours, and days immediately after their death. For example, consider the following scenario: You are on your way to pick up your children from school but are killed in an accident. What happens next? Who will pick up your children and ensure they are cared for?

Without proper planning, the reality is that Child Protective Services will have to step in. This means that your child will be sent to a foster home until someone is able to take custody of them, or until the courts decide who should be their legal guardian. Avoid this by choosing a first responder. Talk to them, let them know how important their role is, and give them clear, concise guidelines on how to proceed.

Choose a Long-Term Care Guardian

In some cases, the long-term care guardian is the same person as the emergency responder. However, this is not always the case. Long-term guardians do not always live close enough to be first responders, and not all first responders wish to serve as long-term guardians. In these situations, it is critical that you also choose a long-term care guardian for your child. Discuss the matter with each prospect and always have a back-up. Most of all, get it down in a legal document.

Providing for Your Children After Death

If you have taken the steps to execute a will, hopefully you have also found ways to ensure your children are provided for, in the event of your death. It could be an already established estate, assets you currently own, or it could be through a life insurance policy. Whatever the case, ensure you carefully plan out how and when this money will be used. Think as far ahead as you can – college, emergency situations, braces – and outline the details in your will.

Our DuPage County Estate Planning Attorneys Can Help

When you are creating a will to protect the future of your children, there are a lot of factors and aspects to consider. Our experienced DuPage County estate planning attorneys can help. Known for crafting creative solutions, and for providing all of our clients with a personalized experience, we will sit down with you, one-on-one, and ensure that your wishes are clearly and concisely outlined in your will. For more information, contact Stock, Carlson, Oldfield and McGrath LLC and schedule a consultation. Call 630-665-2500 today.

Source:

http://www.parents.com/parenting/better-parenting/advice/guide-to-choosing-guardian/