Trust Lawyers – Naperville, IL
DuPage County Trust Attorneys
You have worked hard to create a full portfolio of assets – it is important to ensure that your family will one day benefit from all of your hard work. Taking steps to protect the assets you own and pass them on to your loved ones after your death is important. Our lawyers can help you explore all of the available estate planning instruments that could be benficial in giving your family the security and peace of mind they deserve.
A trust is a legal agreement that places property under the control of a trustee, who will follow the terms of the trust to distribute the property to the beneficiaries named in the trust. As an estate planning tool, a trust is regularly used to protect a person’s property both before and after the person’s death.
We can help you with these types of trusts:
- Charitable Trusts
- Land Trusts
- Life Insurance Trusts
- QTIP Trusts (Qualified Terminable Interest Property Trust)
- Revocable Living Trusts
- Special Needs Trusts
- Trust Administration
- Trust Admendments / Changes
What is a “Living Trust”?
Our clients often confuse the term “Living Trust” with “Living Will”. A Living Will is the document that was used before the advent of the Healthcare Power of Attorney. It is simply an advance directive that one does not wish to have artificial life support, should the circumstances arise. A Living Trust is like a simple corporation or separate entity. The two main purposes of the Living Trust are to guarantee privacy for the family, since the trust does not need to be filed with the Clerk of the Court (as does a Will) and probate avoidance. Probate is court supervision of a deceased person’s estate. It can be time consuming and expensive. The two main reasons that some individuals do not adopt Living Trusts include cost and paperwork. At Kuhn, Heap & Monson the additional cost is modest and we assist our clients with the “paperwork chores” at no additional cost. “Paperwork chores” means that in order for the Living Trust to work effectively and to avoid probate, the Living Trust should own or be the beneficiary of the client’s assets. Again, we assist the clients in this task so that it is not burdensome. Since the Trust can be terminated or amended at any time prior to death, there is no worry about adopting Living Trusts.
Contact A Trust Lawyer For Help
Contact Kuhn, Heap & Monson to set up a free initial consultation with a trust lawyer and ensure your assets are protected. Kuhn, Heap & Monson has served individuals and businesses throughout Chicagoland since 1978. We focus on creating tailor-made legal solutions with personal service to each and every client we serve.