How to Get Started on a Basic Estate Plan

 Posted on August 28, 2025 in Estate Planning

Young parents and professionals in Illinois often put off estate planning because it feels overwhelming or unnecessary. After all, if you are still early in your career or just starting a family, you may think you do not own enough to need a plan. But the truth is that every adult should have at least a basic estate plan, no matter their age or wealth. Having a plan in place is one of the most reasonable and responsible steps you can take to protect your loved ones.

At NN Legal Group, our Wheaton, IL estate planning attorney provides free consultations to help young families take the first steps. We are committed to making sure every client understands their options clearly.

What Is an Estate Plan?

An estate plan is a set of legal documents that describe what will happen to your assets, your children, and your healthcare if something happens to you. Even a simple plan can prevent confusion and reduce stress for your loved ones. In Illinois, a basic estate plan usually includes:

• Will: A will explains who should inherit your property and who should care for your minor children. If you do not have one, the court decides what to do in accordance with the Illinois Probate Act (755 ILCS 5/) in probate proceedings, which may not match your wishes.

• Power of Attorney for Property: A power of attorney for property lets someone you choose manage your finances if you cannot.

• Power of Attorney for Healthcare: This allows a trusted person to make medical decisions on your behalf if you are too sick or injured to decide for yourself.

• Living Will or Advance Directive: These documents state your wishes for medical treatment, such as whether you want life support in certain situations.

Why Young Parents Need an Estate Plan

If you have children, estate planning is not just about money. A will is the only way to legally name a guardian for your minor children. Without it, a judge in DuPage County could appoint someone you would not have chosen. An estate plan also makes sure your children are financially provided for, whether that means naming them as beneficiaries of a life insurance policy or setting up a trust to manage their inheritance.

For young professionals without children, a plan is still important. If you were in an accident and became unable to make decisions, powers of attorney make sure someone you trust is in charge of your healthcare and finances. Without them, your family might have to go through an expensive and time-consuming court process to help you.

How to Start Your Estate Plan

The process does not need to be complicated. To begin, you will need to list your assets. This includes everything you own, even if you do not own it outright. Your home, your bank accounts, your insurance policies, and anything else of value might be part of your asset list. 

Next, think about guardians. If you have children, consider who you would want to raise them. Likewise, you should choose decision-makers you would trust with your finances or healthcare if you cannot act for yourself.

Finally, meet with an attorney. A lawyer can draft the documents, explain Illinois law, and make sure your plan is legally valid. Although it may seem easy to draft an estate plan yourself using DIY software, it is easy to make mistakes or overlook important details. 

Starting with these simple steps helps you create a strong foundation. You can always add more advanced planning later as your life and career grow.

Contact a Wheaton, IL Estate Planning Lawyer

At NN Legal Group, we help young parents and professionals put together estate plans that make sense for the stage of life they are in. We offer free consultations and explain every step in plain language. Call our DuPage County estate planning attorneys today at 630-474-0925 to schedule an appointment where you can take the first step toward protecting your family’s future. Hablamos espanol.