Estate Planning 14 min readNovember 20, 2025

The Complete Estate Planning Checklist for Illinois Families

Key Takeaways

1Every adult should have at minimum a will, power of attorney for property, power of attorney for healthcare, and a living will.
2A living trust can help your family avoid the time and expense of probate court in Illinois.
3Beneficiary designations on accounts and policies override what your will says — review them regularly.
4Illinois offers Transfer on Death Instruments (TODIs) to pass real estate without probate.
5Estate plans should be reviewed every 3-5 years or after any major life event.

Attorney Brian Tierney

November 20, 2025 · 14 min read

Why Every Illinois Family Needs an Estate Plan

Estate planning is one of the most important things you can do for your family — yet it is also one of the most commonly postponed. Many people assume estate planning is only for the wealthy or the elderly. The truth is that every adult, regardless of age or asset level, needs at least a basic estate plan. Without one, the State of Illinois will decide how your assets are distributed, who manages your affairs if you become incapacitated, and potentially even who raises your children.

At the Law Office of Attorney Brian Tierney, we help families throughout the Chicago area create comprehensive estate plans that protect their assets, honor their wishes, and provide peace of mind. This guide walks you through every essential component of an Illinois estate plan so you can understand your options and take the first step toward protecting your family.

The Essential Estate Planning Documents

A complete Illinois estate plan typically includes the following documents. Your specific needs may vary based on your family situation, asset level, and goals.

1. Last Will and Testament

A will is the foundation of any estate plan. It specifies how you want your assets distributed after your death, names an executor (called a "personal representative" in Illinois) to manage your estate, and designates guardians for your minor children. Without a will, Illinois intestacy laws determine who inherits your property — which may not align with your wishes at all.

Key considerations for your will:

Name a primary and alternate executor you trust to manage your estate
Designate guardians for minor children — both a primary and backup
Specify how assets should be distributed among beneficiaries
Include provisions for digital assets such as online accounts, cryptocurrency, and social media
Consider whether any beneficiaries have special needs that require a special needs trust

2. Revocable Living Trust

A living trust is one of the most powerful estate planning tools available. When you create a living trust, you transfer ownership of your assets into the trust during your lifetime. You serve as the trustee and maintain full control. Upon your death, the successor trustee you named distributes the trust assets to your beneficiaries — completely bypassing the probate process.

Benefits of a living trust include:

Probate avoidance: Assets in a living trust do not go through probate court, saving your family months of waiting and thousands in legal fees
Privacy: Unlike wills, which become public record during probate, trusts remain private
Incapacity planning: If you become incapacitated, your successor trustee can manage your affairs without court intervention
Flexibility: A revocable trust can be amended or revoked at any time during your lifetime
Continuity: Your financial affairs continue without interruption after your death or incapacity

3. Durable Power of Attorney for Property

A durable power of attorney for property authorizes someone you trust (your "agent") to manage your financial affairs if you become unable to do so yourself. This includes paying bills, managing investments, filing tax returns, and handling real estate transactions. Without this document, your family would need to go to court to obtain a guardianship — a costly and time-consuming process.

4. Healthcare Power of Attorney

A healthcare power of attorney designates someone to make medical decisions on your behalf if you are unable to communicate your wishes. This person (your "healthcare agent") can authorize or refuse medical treatment, choose healthcare providers, and make end-of-life decisions according to your expressed wishes.

5. Living Will (Advance Directive)

A living will documents your wishes regarding life-sustaining treatment. It takes effect when you have a terminal condition, are permanently unconscious, or have an incurable or irreversible condition. Your living will tells your doctors and family whether you want to receive treatments such as mechanical ventilation, artificial nutrition and hydration, and cardiopulmonary resuscitation.

6. HIPAA Authorization

A HIPAA authorization allows specified individuals to access your protected health information. Without this document, healthcare providers cannot share information about your condition with your family members — even in an emergency.

Beyond the Basics: Additional Planning Strategies

Beneficiary Designations

Many of your most valuable assets — including life insurance policies, retirement accounts (401k, IRA), and payable-on-death bank accounts — pass to beneficiaries outside of your will or trust based on the beneficiary designations on file. It is critical to review these designations regularly, especially after major life events like marriage, divorce, or the birth of a child. Beneficiary designations override your will, so keeping them updated is essential.

Transfer on Death Instruments (TODIs)

Illinois is one of a growing number of states that allows property owners to use Transfer on Death Instruments to designate a beneficiary for their real estate. A TODI allows your property to pass directly to your named beneficiary upon your death without going through probate — and you retain full control of the property during your lifetime.

Land Trusts

For property owners concerned about privacy and asset protection, an Illinois land trust offers a way to hold property in the name of a trustee while you retain full beneficial interest. Land trusts can simplify estate planning, provide a layer of privacy, and facilitate property transfers.

Business Succession Planning

If you own a business, your estate plan should include a succession strategy. This might involve a buy-sell agreement funded by life insurance, a transfer to family members, or a plan for selling the business. Attorney Tierney works with business owners to integrate their business interests into their overall estate plan.

When Should You Start Estate Planning?

The best time to start estate planning is now. Here are life events that should trigger estate planning action:

Turning 18 (healthcare directives and powers of attorney become essential)
Getting married or entering a domestic partnership
Buying a home or acquiring significant assets
Having or adopting children
Starting a business
Receiving an inheritance
Experiencing a divorce or the death of a spouse
Approaching retirement
Being diagnosed with a serious illness

How Often Should You Update Your Estate Plan?

Your estate plan is not a "set it and forget it" document. You should review your plan every 3-5 years and after any major life event. Common triggers for updates include changes in marital status, birth or adoption of children or grandchildren, death of a beneficiary or executor, significant changes in assets, changes in tax laws, or a move to a different state.

The Cost of NOT Having an Estate Plan

Many people delay estate planning because they assume it will be expensive. However, the cost of not having a plan is far greater:

Probate costs: Without a trust, your estate will go through probate, which can cost thousands in legal and court fees
Probate delays: Probate typically takes 6-12 months in Illinois, during which your family cannot access your assets
Family conflict: Without clear instructions, family disputes over assets are common and can be devastating
Guardianship proceedings: Without powers of attorney, your family must petition the court for guardianship if you become incapacitated
Unintended beneficiaries: Without a will, Illinois intestacy laws determine who inherits — which may include people you would not have chosen

Attorney Brian Tierney: Your Estate Planning Partner

Attorney Brian Tierney takes a holistic approach to estate planning. He takes the time to understand your family, your assets, and your goals before recommending specific strategies. Whether you need a simple will or a comprehensive trust-based plan, Brian explains every option in plain language and ensures you feel confident in your decisions.

Located on Chicago's South Side near Midway Airport, Brian serves families throughout the Chicagoland area. To schedule your free estate planning consultation, contact us today or call (773) 912-0602.

Have questions about this topic?

Attorney Brian Tierney offers free consultations on all legal matters.

Free Consultation

Frequently Asked Questions

What is the most important estate planning document?

While every document serves an essential purpose, a durable power of attorney for property and a healthcare power of attorney are arguably the most immediately important. These documents ensure someone you trust can manage your affairs and make medical decisions if you become incapacitated — situations that can happen at any age.

Do I need a trust if I have a will?

A will alone may be sufficient for smaller estates. However, a living trust offers significant advantages including probate avoidance, privacy, incapacity planning, and faster asset distribution. Attorney Tierney can evaluate your situation and recommend the right approach for your family.

What happens to my estate if I die without a will in Illinois?

If you die without a will (intestate), Illinois law determines who inherits your assets. Generally, your spouse and children share your estate, but the specific distribution depends on your family situation. Without a will, you also cannot designate guardians for minor children, and your estate must go through probate.

How much does estate planning cost in Illinois?

Estate planning costs vary based on the complexity of your situation. A basic will and powers of attorney are less expensive than a comprehensive trust-based plan. Attorney Tierney offers transparent, flat-fee pricing and provides a clear estimate during your free consultation.

Can I do estate planning myself using online forms?

While online forms exist, they carry significant risk. Estate planning involves complex legal and tax considerations that vary by state. A mistake in your documents could render them invalid or create unintended consequences. Working with an experienced attorney like Brian Tierney ensures your plan is legally sound and tailored to your specific situation.

Back to All Resources