In a time when people are living longer, the need for comprehensive estate planning is more important than ever. An effective plan reduces the stress and complications for loved ones upon one’s death or incapacitation by ensuring that the wishes of the testator are carried out exactly as planned. An experienced Chicago estate planning lawyer can help you create a plan that is tailored to your unique circumstances.
An expert in probate law, an Illinois Trust and Estates attorney can help you with a variety of legal issues arising from the administration of a decedent’s estate. These include settling claims against the deceased individual’s estate, validating the offered will, and distributing assets to heirs. In addition, an Illinois Probate Attorney can handle any dispute that may arise during this process including disputes between family members, trustees, and beneficiaries.
Whether you are an executor, administrator, or guardian, our Illinois trust and estate litigation lawyers can assist you in defending your fiduciary duties by handling claims of misconduct or breach of duty. These matters can be settled through settlement negotiations or resolved in court.
Not every estate requires probate. In fact, a decedent’s estate may not require probate at all if they created a comprehensive estate plan with a living trust and will while still alive. However, if the estate’s assets exceed $100,000, a probate matter must be opened to oversee the transfer of those assets to the heirs. Probate is a court-supervised process to ensure that all outstanding debts are paid and the estate’s affairs are wrapped up.
Our Chicago estate planning attorneys can help you establish an estate plan that minimizes taxes and reduces the risk of lengthy probate proceedings upon your death or incapacitation. We have drafted trusts for business owners, teachers, church leaders, professional athletes, and other individuals with complex assets. We have extensive experience drafting land trusts, revocable trusts, power of attorney documents, and deeds.
A Chicago Wills & Trusts Lawyer can also help you with various legal issues that can arise during trust administration, such as a dispute between co-trustees or the alleged mismanagement of a property by a trustee. In addition, our Chicago trust and estate litigation attorneys can help defend a fiduciary against allegations of wrongdoing or fraud during probate or estate administration.