Understanding The Versatility Of Trusts In Estate Planning
Trusts are versatile and highly useful estate planning tools that serve your interests during life and protect your legacy after you pass away. There are many misconceptions and myths about trusts. Many individuals in Illinois believe that creating a trust requires you to give up control of your assets to a financial institution — increasing costs of managing property within the trust. In reality, a living trust can be a highly cost-efficient way to solve a variety of estate planning issues.
A Trust Can Protect Your Family Now
At Zapolis & Associates, P.C., in Mokena, our lawyers have helped individuals, business owners and families in the Chicago area establish trusts for more than 36 years. Many people think of drafting a will as the answer to completing an estate plan. You need to know that a will does not take effect until after your death. It does nothing to protect your family from guardianship proceedings should you become disabled. Moreover, using a trust, or system of trusts, is a cost-efficient way to address not only the potential for disability, but trusts can help you and your family to avoid court. Our attorneys can explain the many benefits of trusts, such as:
- The ability to continue to retain control over your assets during life
- The ability to authorize a co-trustee to manage your estate during times of disability or incapacity
- Providing a streamlined mechanism to transfer assets smoothly without probate
- Allowing your loved ones to avoid probate completely
- Setting up protection to maintain privacy concerning your assets and estate
- Preserving assets for the next generation
- Providing supplemental resources, protecting inheritance rights and allowing a person with special needs to maintain eligibility for government assistance
- Allowing for continued management of a family business and a smooth mechanism for business succession
Our lawyers are here to help you to achieve your goals. We believe that in estate planning and business succession matters, you need to have access to your attorney. When you call Zapolis & Associates, P.C., you will not have to run through a cumbersome call screening process. Our highly trained professional staff and seasoned estate planning lawyers provide a comfortable setting to efficiently understand your goals to craft the most efficient estate plan to achieve the results you desire.
Call Now For Caring, Understanding And Affordable Trust And Estate Planning Guidance
To arrange a free and confidential consultation with an estate planning lawyer who cares about your legacy, call 708-390-8936 or send us a message online. We can arrange to meet you on Saturday or during the evening by request. We serve individuals, families and small-business owners throughout Northern Illinois.