Estate Planning

Made Easy &

Stress-Free!

Estate Planning Is For The Living,
And Now Is The Time To Decide
Who Inherits Your Estate!

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About Me

Fred L. Otchere, Esq.

I am Fred Otchere.  I am licensed to practice law in the state of Illinois. 

I specialize in Estate Planning:

  • Wills,
  • Trusts,
  • Power of Attorney for Healthcare,
  • Power of Attorney for Property
  • Living Will. 

I have been an Attorney since 1998, and have focused on Estate Planning since 2009.

I offer free initial consultation on Estate Planning matters.

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Practice Area

ESTATE:

Your Estate is the net total of your assets at the time of death. 

Your Estate stays in existence until all the assets in it are distributed to the individuals you have chosen, through ESTATE PLANNING, or otherwise, to receive them.

ESTATE PLANNING:

  • Estate Planning is as important as Financial Planning.
  • You do Estate Planning to ensure that Legal Documents are in place to facilitate the legal and peaceful transfer of your Estate (net assets) to your heirs and other loved ones!
  • Estate Planning is a process for providing financial stability and protection for your loved ones after your death.
  • If you die without Estate Planning Documents (TRUST, WILL) in place, it is the State Intestacy Law that determines the Beneficiaries of your ESTATE.
  • Estate Planning allows you, rather than the State, to choose the Beneficiaries of your ESTATE.
  • Estate Planning allows you to appoint your own Guardians and Executors.

LIVING TRUST:

A TRUST is created when the Title to property is divided into the following two separate interests:

  • Legal interest; and
  • Equitable interest.

The Legal interest is held by the TRUSTEE who has the Duties, Liabilities and Responsibilities that are associated with property ownership.

The Equitable interest is held by the BENEFICIARY who has the right to enjoy the TRUST property as stipulated in the TRUST.

BENEFITS OF A TRUST:

  • Avoidance of Probate
    • Quick Estate Settlement
    • Avoidance or Reduced Attorney Fees.
  • Provides Confidentiality
    • Not Filed with the Probate Court, and hence the size of Settlor’s Estate is not made public.
  • Disability Planning.
  • Protection from Renunciation.
  • Provision for Children’s Future.

LAST WILL AND TESTAMENT:

A WILL is a Legal Document that is used to indicate how the contents of one’s Estate or one’s Assets are to be distributed upon one’s death.  It is also used to name a Guardian for minor children as well as name an Executor for one’s ESTATE.

LIVING WILL:

It is a Legal Document used to state one’s preference regarding extraordinary life-prolonging Medical Treatment when there is no hope of recovery from an illness or sickness.

POWER OF ATTORNEY FOR PROPERTY:

It is a Legal Document that a person uses to appoint an agent who would make decisions on behalf of that person, with regards to Property, when that person is incapacitated.

POWER OF ATTORNEY FOR HEALTHCARE:

It is a Legal Document that a person uses to appoint an agent who would make decisions on behalf of that person, with regards to Healthcare, when that person is incapacitated.

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Intestacy

INTESTATE SUCCESSION IN ILLINOIS

        When a person dies without a valid WILL, that person is considered to have died intestate.               

The Estate of such a person may be distributed according to the ILLINOIS INTESTATE SUCCESSION LAW.

Contact me for FREE information on the ILLINOIS INTESTATE SUCCESSION LAW.

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Contact
Let's chat!

Please contact me for more information.

  • fred@estatewillstrusts.com
  • (847) 331 - 2273