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Different ways divorce could impact your trust

If you have determined that bringing your marriage to an end is necessary, you might have a number of concerns and you could wonder how this decision will affect your future. For example, you might be concerned about the outcome of a custody dispute or property division. With that said, there are other financial concerns that you may need to take into consideration. If you have a trust, you may need to take a second look at your estate plan and make necessary changes. Each case is unique, however, so it is crucial to make sure you figure out which steps you need to take.

What can you accomplish with an irrevocable living trust?

If you, like many people across Illinois, are working to get your ducks in a row with regard to estate planning, you may be trying to figure out the best way to preserve your wealth and assets for future generations. While there is a wide variety of steps you can take to accomplish your various needs, one solid estate planning strategy you may want to consider is to establish what is known as an irrevocable living trust.

What Are Some Different Types of Trusts?

If you're currently involved in the estate planning process in Illinois, you've most likely considered establishing a trust. While this estate planning tool can be highly useful, it helps to understand the different types of trusts to ensure you make the right decision. CNN.com offers the following guidance on the difference types of trusts available and why they might be right for you. 

What are advantages of creating a charitable trust?

Nonprofits and charitable organizations in Illinois often rely upon donations to ensure their survival. While you are estate planning, you can create a charitable trust to assist the group that you currently support or would like to donate to in the future. In addition to satisfying your need for philanthropy, creating a charitable trust can also provide you with plenty of financial benefits.

Can a testamentary trust improve control over your business?

When planning for the future, you know nothing is set in stone. While you may wish to establish a trust that ensures your business will be appropriately handled by your family upon your retirement or passing, changing conditions may mean what you wish for your Illinois business and assets today may not reflect your desires five, ten or twenty years in the future. So how can you make use of a testamentary trust to give you more control over your business?

How to Choose a Good Trustee for Your Estate

One of the most important aspects of creating an estate plan is choosing the right trustee. A quality candidate will be able to perform all the necessary tasks, while also proving to be readily available when the time comes for duties to be carried out. If you're in search of a trustee in Illinois, the AARP recommends the following tips to help you select the best candidate to handle your affairs after you're gone.

How can a trust benefit you?

When Illinois residents like you decide that it's time to look into your trust options, Zapolis & Associates, P.C., is here for you. There are many things to learn about trusts, and they can benefit anyone of any age, despite the common idea that they're only necessary for the elderly.

Certifying a trust

Assuming the role of trustee at the request of a family member, friend or associate in Mokena is an awesome responsibility. By doing so, you become inextricably linked to all interested parties to the trust through the duration of time that it remains in effect. Many of those that we here at Zapolis & Associates, P.C. have worked with in the past can attest to the fact that such parties will certainly have plenty of questions for you. The first one is likely to be how you can verify that the settlor did indeed create the trust in the first place. 

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Mokena, IL 60448

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