With effective estate planning, you can protect wealth from generation to generation, create trusts, provide for charities and determine health care wishes. Each client’s estate planning goals are different, so we work closely with clients to achieve the desired goals.
Our firm’s attorneys will help you navigate the complex issues surrounding estate planning and weigh the tax consequences to design an efficient, effective plan that protects your assets, clearly defines their distribution and reduces future taxes and legal fees.
We have substantial experience in the following:
- Estate Settlement. The firm handles family estate settlements and Illinois Small Estate Affidavits, and it performs Independent Administration of Estates and Probate Administration. This can entail collecting the deceased’s assets and properties, paying estate debts, filing tax returns and identifying and distributing assets to heirs.
- Wills. An up-to-date will is the cornerstone of effective estate planning. A will provides for the distribution of assets and can contain important estate tax-favorable provisions.
- Trusts. Well-crafted trusts can protect and transfer wealth from generation to generation. Descendant trusts can hold funds for children or grandchildren for specific time frames and purposes. Charitable trusts can be designed to avoid estate taxes. Special needs trusts can be established for disabled loved ones. We also have experience in revocable trusts and irrevocable life insurance trusts.
- Power of Attorney. You can determine who will have Power of Attorney over your property or health care decisions in case you are incapacitated. We can help you draft advance directives regarding health care choices.
- Transfer on Death Instrument. Illinois now allows for a transfer on death instrument or beneficiary deed to transfer real estate to your heirs automatically at your death.
- Guardianship. A guardian can be appointed for your minor children, for a disabled adult child or for yourself in case of later incapacity.
- Gift Planning. We can help you develop gifting strategies for charities, schools, churches or relatives that maximize your legacy and minimize the tax implications.
- Disclaimers. Our attorneys can help you file a disclaimer, which is a refusal to inherit all or part of an estate that helps avoid a major estate tax burden.
Your senior years of retirement should be enjoyable, so our firm helps older clients and families deal with the legal issues involved with aging. The goal of our elder law practice is to enable seniors to live independently while arranging for long-term care and retirement living.
Along with preparing wills, trusts, and advanced directives, our firm can help you determine power of attorney, and estate distribution. Detailed planning now can lead to peace of mind later.
If your legal matter involves elder abuse, physical abuse or negligent care, or the need for Medicaid planning, we can recommend resources and other attorneys who can assist you.