Why Having a Strong Estate Plan Matters

 Posted on January 29, 2026 in Estate Planning

A comprehensive estate plan is important for protecting your beneficiaries and making sure your preferences for end-of-life care are respected. However, a recent caring.com survey found that less than a quarter of Americans have a will in place. If you need help setting up an estate plan – or simply don’t know where to start – reach out to a Schaumburg, IL estate planning attorney.

At A. Traub & Associates, we have built up a reputation for providing clear legal guidance and attending to our clients’ needs, resulting in over 150 5-star reviews. We can draft and review different documents in your estate plan, taking the time to understand your needs before moving forward.

Why You Should Draft a Will

A will is one of the most important documents to include in your Illinois estate plan. It gives clear instructions about what happens to your property after you die. Without one, Illinois law decides who receives your assets (755 ILCS 5/2-1). Those rules do not account for family conflict, blended families, or personal wishes.

A will allows you to select beneficiaries who will receive your assets, name an executor, and direct how debts and taxes should be paid. It also lets parents name a guardian for minor children. That single decision can shape a child’s future. Without a will, the court must step in and decide.

A properly drafted will can also reduce conflict. Clear language leaves less room for arguments. It shortens court proceedings and limits delays. Families already dealing with grief often benefit from that clarity.

Wills are not only for the wealthy. Anyone who owns property, has children, or wants control over final decisions should have one. Even modest estates can become complicated without written instructions.

Requirements for Setting Up a Will in 2026

In Illinois, certain rules must be followed for a will to be valid. The person making the will must be at least 18 years old and of sound mind. That means understanding what property you own and who your beneficiaries are.

The will must also be in writing, as verbal promises or handwritten notes likely won’t hold up in court. Most wills must be signed by the person creating them and witnessed by two people. Those witnesses must be present at the same time and must understand that they are witnessing a will.

Mistakes can create serious problems. Missing signatures, unclear language, or improper witnessing can lead to a will being challenged. In some cases, the entire document may be rejected. When that happens, the estate may be treated as if no will existed at all.

Laws also change over time. What worked years ago may no longer be effective. Reviewing your will after major life events or legal changes helps keep it enforceable and relevant.

Do You Need a Trust?

A trust is not required for every estate, but it can be a powerful tool. Trusts allow assets to pass outside of probate. That often means faster transfers and more privacy. Probate filings are public. Trusts are not.

Trusts are often useful for families with young children, special needs beneficiaries, or complex assets. They can set rules for when and how money is distributed. This can protect beneficiaries from poor financial decisions or outside pressure.

Trusts can also help manage property during your lifetime. If you become ill or unable to manage your affairs, a successor trustee can step in without court involvement. That continuity matters during medical emergencies. While trusts require more planning upfront, they often reduce stress later. A lawyer can help determine whether a trust fits your goals or whether a will alone is enough.

Additional Provisions for Special Needs Trusts

Special needs trusts are designed to protect beneficiaries who receive government benefits due to a disability. A direct inheritance can unintentionally disqualify someone from programs that help pay for housing, medical care, or daily support.

A special needs trust allows assets to be used for extra care and quality-of-life expenses without replacing those benefits. The trust is managed by a trustee, not the beneficiary, which helps prevent misuse. For parents and caregivers, this type of planning offers peace of mind. It ensures long-term support while preserving access to essential public assistance.

Reasons to Consider Drafting Powers of Attorney

Powers of attorney protect you while you are alive. They allow someone you trust to act on your behalf if you cannot. Without them, family members may need to go to court just to pay bills or manage care.

A financial power of attorney allows an agent to handle banking, property, and other financial matters. A medical power of attorney allows someone to make healthcare decisions if you cannot speak for yourself.

These documents are especially important for unexpected situations. Having powers of attorney in place means decisions can be made quickly and legally.

Choosing the right agent matters. This person should be reliable, organized, and able to follow your wishes. Clear instructions in the document help prevent misuse and confusion.

What Are Living Wills Used For?

A living will explains your wishes about end-of-life medical care. It guides doctors and family members when you cannot communicate. This can include decisions about life support, resuscitation, and hospice care.

Without a living will, loved ones may struggle to agree about what is best for you. A written directive removes the guesswork and emotional burden. Living wills are not about giving up care, but rather, they ensure that your values guide medical decisions, even when you cannot speak for yourself.

These documents should be reviewed periodically. Health conditions, beliefs, and family situations change. Keeping your living will updated helps ensure it reflects your current wishes.

Contact a Schaumburg, IL Wills and Trusts Lawyer

Wills, trusts, powers of attorney, and living wills each serve a different purpose. When they align, they protect both you and your family.

At A. Traub & Associates, our team helps individuals and families create estate plans that are clear, practical, and legally sound. Whether you need a basic will or a more detailed plan, we can help you move forward with confidence. Contact our Schaumburg, IL estate planning attorneys by calling 630-426-0196 to set up an initial consultation.