Protecting Your Property And Loved Ones: Wills And Trusts
In case something happens to you, it is wise to have an estate plan place to protect your property and loved ones. The cornerstones of most estate plans, wills and trusts are legally binding documents that identify who will gain the rights to your property and how your minor children will be cared for in your absence.
In addition to providing peace of mind to the living, wills and trusts save beneficiaries valuable time and money by effectively minimizing estate taxes and avoiding probate court.
The team at LeVine, Ehrman & Horberg Ltd., has helped many people prepare for the future of their estates using wills and trusts. We provide our clients with attentive legal counsel and service that considers your individual needs.
Wills direct the management and distribution of your estate after death and can include the guardianship of minors.
- Simple wills distribute property of uncomplicated estates.
- Conditional wills only go into effect when specified conditions are met.
- Joint/reciprocal wills are created by two people who wish to leave their property to one another.
- Pour-over wills transfer property into a trust after death.
Trusts allow you to direct or control property or other legal rights while alive and to facilitate the transition of property after death.
- Testamentary/will trusts put at least some of your property into a trust.
- Revocable/living trusts can be changed at any time, but offer no creditor protection.
- Irrevocable trusts cannot be altered after being signed.
- AB/marital trusts help couples to maximize the use of both of their federal exemptions from estate taxes.
Schedule A Free Consultation With A Lawyer
There are advantages and disadvantages to all wills and trusts. Depending on your estate, some options will be more beneficial to you than others. To schedule an initial consultation, use the online form, or call 708-444-4333.
Based in Tinley Park, Illinois, we serve clients throughout the Chicago area. Contact us today to learn more about how our team of attorneys can assist you.