Achieve Your Estate-Planning Goals
Your life savings and other assets are the result of your hard work and careful planning. It is important to protect those assets and provide for your loved ones in your absence by completing an estate plan.
I am attorney Randall Steele, principal of Steele Law Offices, LLC, in Glen Carbon. For over 30 years I have helped people prepare their will, trust and other documents that dictate how they want their assets distributed once they die. I can draft everything from a simple will to special needs and complex trust arrangements. When you call my firm, you will work directly with me, founding attorney Randall P. Steele. We will discuss your objectives and concerns, and I will explain the various tools and options available to you. We can then establish a plan to distribute your assets according to your wishes.
I can help you with:
- Simple wills and trusts
- Estate tax planning
- Advance health care directives
- Durable powers of attorney
- Guardianships and conservatorships
- Adjusting estate plans to reflect separation or divorce
- Probate and estate administration
- Family business succession planning
Demystifying Probate For You
Probate is a court-supervised process designed to transfer a person’s property after death. Usually, the decedent (person who has died) will name an adult child, relative or trusted loved one as an executor. The executor is the person who administers the estate after a person dies. If the decedent does not name an executor, the court will appoint an administrator.Typically if all significant assets are held in a trust (such as the house, 401K and investments) then an estate will not need to go through the probate process. However, every state has an “estate threshold” of how much is required for an estate to be worth to require probate. In Illinois in 2019 that threshold for singly held assets is $100,000.
Five Essential Responsibilities Of An Executor Or Administrator
The role of executor is a formal obligation. If you are wondering how to select an executor, consider that the responsibilities include that this person:
- Collect the property and assets of the decedent
- Pay the estate’s debts and taxes
- Recover the rights to income and dividends
- Settle the decedent’s remaining disputes
- Distribute the remaining assets to the beneficiaries
Many misconceptions about the probate process persist because not many people have gone through this. I can answer your questions about probate and structure your estate planning tools to suit your objectives — most likely in a single office visit.I also help people named as executor understand and fulfill their duties.
Get Your Questions Answered
If you have questions about estate planning including wills, trusts, probate or any other estate planning matter, I can help. Call me at 618-288-9591 or use the contact form on this website to schedule an appointment with me to get your questions answered and understand your next steps.