The Competitions of the National Flute Association

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The Basics of Estate Planning

An accomplished Illinois attorney and CPA, Heidi Scott has owned the real estate documentation organization Schuyler Brown Land Title and operated a private law firm since 2008. Both of these businesses are located in Mt. Sterling, Illinois. Heidi Scott counts estate planning among her areas of professional expertise.

Briefly defined, estate planning involves designating individuals to receive posthumous assets and assume necessary responsibilities in the event of incapacitation or death. The key goals of effective estate planning include choosing strategies that minimize necessary taxation.

In conjunction with creating a will, the estate planning process involves thoroughly assessing the future financial needs of heirs and taking complete inventory of all client assets and belongings. A professional estate planner can facilitate these endeavors and file all necessary beneficiary forms.

Estate planners can also help clients draft living wills to dictate their future healthcare directives if they are unable to articulate those directives themselves. Estate planning may also involve the establishment of a durable power of attorney in the form of a trusted relative or friend that can handle financial matters for the client.