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    Home ::: Illinois ::: Oak Lawn ::: Estate Planning - Administration

    Estate Planning - Administration in Oak Lawn


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    Business Listing   Burmila Christine & Murphy Stephn PC Attrnys at LW - Oak Lawn, IL - Phone: (708) 346-9946


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    Helpful Definition for: Estate Planning - Administration


    Estate planning in Oak Lawn is the attempt of eliminating confusions over the administration of a probate, optimizing the value of estate and arranging for its safe disposal. It is basically the process of transferring or distributing the assets, including the real & personal properties of the owner to the legal heirs in case of disability or death.

    Beneficiary designations, trusts, property ownership, powers of appointment, gift, powers of attorney, living will, partition & specific final arrangements such as whether to be buried or cremated, etc., constitute the major devices of estate planning during lifetime. For post-death estate planning- will, succession & life insurance are the effective tools.

    The main objectives of estate planning in Oak Lawn are- tax-effective transfer of asset to beneficiaries, pre-decided time of distribution, selection of guardian, trustee or the executor and business succession.

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