Wills & Trusts

Wills are foundational documents for your estate plan. They give instructions for your property and assets after your death. Wills name the beneficiaries who will receive an inheritance from you. Every Will names an Executor who is the human being who will carry out your wishes. Wills can effectively transfer any and every kind of property - houses, farmland, businesses, investments, retirement assets, automobiles, collectible items, etc. Wills should be carefully drafted by an estate planning attorney who understands what you own and who ensures that the type of ownership for each asset aligns with your wishes laid out in your Will.

Wills can be used not only to direct property after death, but also to designate the person would be the guardian (or caretaker) for your children if they are minors. Not only can you designate a caretaker, but you can also designate the person who would manage your estate until your children reached adulthood. A properly drafted Will can provide clarity to your family on asset distribution, guardianship appointments, and other estate matters important to you.

Trusts are designed to accomplish goals that have multiple dimensions beyond naming beneficiaries of your property in a Will. Some of those goals can include the speed and ease of administration after death, avoiding the probate process, providing for a disabled adult child, and keeping the estate distribution process private. Trusts can also be used as part of a strategy to reduce estate taxes (also called “death taxes”) at the time of your death. This kind of project should be approached only with guidance from an experienced estate planning attorney who has knowledge of both Illinois and Federal estate tax rules.

Your Will or Trust is personal to you and should reflect your goals and wishes. As your goals and priorities change over time, your Will or Trust should change with you. When you choose this firm, we will be there for you throughout the changes of life. We hope you will consider us your lifelong counselor to keep your estate plan up to date through all life’s seasons.