Office: (847) 461-9373
Fax: (847) 388-4832
Estate Planning is not only about planning what happens to you in the event you are unable to make decisions but also it is about letting your loved ones know what your wishes are. It protects your loved ones from making difficult decisions on your behalf without any direction from you.
What is Estate Planning:
Your estate is comprised of everything you own— your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture, personal possessions. To ensure your wishes are carried out after your death, you need to provide instructions stating whom you want to receive something of yours, what you want them to receive, and when they are to receive it. Estate planning is making a plan in advance and naming whom you want to receive the things you own after you die.
Note that Estate planning is much more than just naming whom you want to receive the things your own after you die. It also includes:
Estate Planning is an ongoing process, not a one-time event. Your plan should be reviewed and updated as your family and financial situations (and laws) change over your lifetime.
Jolanta A. Zinevich, LLC. deals with sensitive family situations and helps its clients develop a plan that best suits their needs.
Call us today to schedule a consultation in order to plan for your future and to protect your family. At Jolanta A. Zinevich, LLC. we understand that each situation is unique and no one estate plan fits all situations. We create a solid estate plan to fit the unique needs of our clients. The Estate Plan usually includes a Will, a Revocable or Irrevocable Trust, and Durable Powers of Attorney for Health Care and Property.
Jolanta A. Zinevich, LLC. will discuss and address your unique needs such as minor children, families with special needs, business ownership, and even your pets.
Preparation for our Initial Meeting:
At Jolanta A. Zinevich, LLC. we look forward to working with you to plan for your future and protect your family.
To schedule an appointment please call our office at (847) 986-5924. We are conveniently located in Mundelein, Lake County. Most appointment can be made Monday through Friday between 8 am and 5 pm. However, we understand that some of our clients may not be able to schedule an appointment during our normal hours therefore we can provide evening and weekend appointments if such is more convenient for our clients.
Prior to out Initial Meeting
Once you make your Appointment we will provide you with a questionnaire for you
to fill out prior to the meeting. This questionnaire asks for your Family
Information such as names, addresses, contact information, etc. It also includes as
Asset Worksheet on which you list your Assets. It is broken down by type of asset,
how they are owned, the value of the asset and beneficiary name (if such exists).
We want to make our time together as productive as possible thus we ask that you fill
out this questionnaire and return it to our office at least a week prior to our appointment. This will ensure that we have had an opportunity to review your
information and are able to discuss solutions that fit your unique situation during our
A typical first meeting in our office lasts between 45-60 minutes depending on the complexity of the issues involved in your unique situation. It is very important that everyone who is involved in the decision making process is available for the meeting so that decisions can be made and the proper strategy put in place for your family.
After gathering the facts regarding your unique situation, we will discuss what steps are best suited to your situation. Typical estate planning can range from $1,000 - $5,000 depending on your unique situation. However, at the end of our Initial Meeting you will be advised of the cost to prepare your Estate Plan. Should you choose to retain Jolanta A. Zinevich, LLC. to assist you with your Estate Planning needs, we will provide you with an engagement letter which describes the details of our agreement including the financial arrangements. Once payment and signed agreement are received, we will begin working on your Estate Plan immediately. Typically, approximately 2-3 weeks after the Initial Meeting we will finalize your Estate Plan and schedule another appointed during which we explain the details of the Estate Plan and ask you to sign the necessary paperwork.
Estate Planning frequently asked Questions:
Do I have an Estate? What is it?
Your estate consists of all assets that you possess at the time of your death. These assets include: Real Estate Cash/ Checking/Savings Accounts Personal Property Retirement plans such as IRAs, 401k, etc. Life Insurance or death benefits Interest in a business Stocks, bonds, etc.
What happens if I die without a Will?
If you die without a Will and have property in Illinois, your property will be distributed according to the State Law at the time of your death.
What are the advantages of having a Will?
A Will allows you to decide how your property will be divided after your death. In your Will you can specify your own directions thereby avoiding the “default” rules mandated by Statute when you die without a Will. If you are a Parent of minor children you can use a Will to name a guardian of your children in the event of the parent’s death.
Can I make my own Will or change a Will that I have already made?
Yes, you can make your own will without consulting an Attorney. However, note that in Illinois, there are certain formalities that are required for a Will and for a revised Will to be effective under the law. A Will that does not comply with the law may be held invalid. We strongly suggest consulting with an Attorney to ensure that your Will is valid.
I keep hearing the word “probate”, what does that mean?
The process initiated after someone dies is called the probate process, such includes:
• If there is a Will, validation of the wills
• Payment to creditors first before your heirs receive their distributions of
• Distribution of assets to heirs according to terms of the Will or if no Will
according to the Statute
The probate process is not free and depending on the complexity of the estate, probate fees can consume up to 10 percent of the total estate. The Probate process typically takes six months to two years to complete, during which time, your heirs will not have access to the assets in your estate and will not receive their distributions until your creditors have been paid and the estate is ready to close.
I already have a Will - do I really need a Trust?
Your Will will become a public document as it must be filed with the Court within a certain period of time after your death. The Will will have to go through the Probate Process which will most probably include the hiring of an Attorney to file a Court case and a death notice to run to put creditors on notice that you have died. The Process can take from six months to two years. It will be a significant amount of time before your beneficiaries (those you want to receive your assets after your death) are able to receive your assets. A Trust, on the other hand, is a private document that allows the Trustee (the person you name to distribute your assets to the right beneficiaries) to distribute the estate immediately upon your death. A Trust is an Estate Planning tool which allows you to specify how you want your assets to be managed and distributed to your beneficiaries. When you die, or should you become incapacitated, the trustee can immediately manage the trust to ensure that your spouse and children are properly cared for without delay. The decision to create a Trust should be based upon your personal circumstances. We advise that you speak to an Attorney to determine whether or not a Trust is right for you.
What is a Living Will?
A lot of people confuse a Living Will with a Will. They are two different documents with two different purposes. A Living Will is a type of health-care planning tool and only applies to your Medical Decisions. A Living Will allows you to specify to your loved ones your wishes and instructions as to death-delaying procedures in certain very limited medical circumstances.
What is a Power of Attorney?
There are two types of Powers of Attorney; a Power of Attorney for Property and a Power of Attorney for Health Care. A Power of Attorney is a document that allows you to appoint someone your trust to make decisions for you. A Power of Attorney for Property allows the person you appoint to make decisions on your behalf pertaining to Property and a Power of Attorney for Health care allows the person you appointed to make decision concerning your Medical Condition on your behalf.
Call now for a FREE consultation:
Jolanta A. Zinevich, L.L.C.
Attorney at Law
1214 W. Northwest Hwy.
Palatine, Illinois 60067
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