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Expert Advice on Estate Planning for Homeowners: An Interview with Alan Orlowsky of Orlowsky & Wilson, Ltd.

By Alan Orlowsky

Tell us a little bit about your company and the areas of law that you practice.

We are a small law firm and service individuals and small to medium size businesses.

Is there something that most people don't know about estate planning that they should know?

There are many things individuals do not know about estate planning. Most importantly, if you fail to have entered into a will or a trust your testamentary wishes most likely will fail.

What are some of the biggest reasons that estate planning is essential for homeowners?

If you fail to plan your spouse or loved ones may not receive your residence upon your death as desired. Furthermore, there may insufficient means of support for your family members upon your death and they may be forced to sell the house.

Can you give a brief breakdown of the key steps in the estate planning process you go through with your clients?

First we meet for an initial complimentary consultation to discuss the client's needs. Once engaged, we begin gathering the information to design and prepare documents. We then prepare the documents and implement the plan.

What is one of the challenges that homeowners face when they're creating an estate plan?

The biggest challenge is definitely making very difficult decisions.

What happens when someone wants to make changes to their estate plan?

We revise and amend the documents as needed.

What practical advice do you have for homeowners who have not given much thought to creating an estate plan?

Do so immediately. Nobody thinks they are going to be the next person to die, so they don't plan. But sometimes bad things happen unexpectedly. You do not want to be the person who leaves his or her family a financial disaster!

What's the best way for people to contact you and your company?

Just call me at 847-325-5559.

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