Trust & Probate FAQs
Serving Clients in Chicagoland & Northwest Indiana Since 1980
What Is a Trust & How Does It Work?
A trust is a legal arrangement where one person, the trustee, manages assets on behalf of another, the beneficiary. Trusts can help protect assets, provide for family members, and reduce estate taxes. At Zapolis & Associates, we help clients set up trusts tailored to their goals and financial situations.
What Are the Benefits of Establishing a Trust?
Trusts allow you to control how your assets are distributed, protect property from creditors, and potentially avoid probate. They can also provide for minor children or family members with special needs, ensuring that your wishes are carried out efficiently.
What Are the Different Types of Trusts?
We assist clients with various trusts, including revocable living trusts, irrevocable trusts, and special needs trusts. Each type offers unique benefits depending on your estate planning objectives.
How Do I Fund My Trust?
Funding a trust involves transferring assets, such as real estate, bank accounts, and investments, into the trust’s name. Our team guides clients through this process to ensure that all assets are properly managed under the trust.
What Is Probate & When Is It Necessary?
Probate is the legal process of administering a deceased person’s estate, ensuring that debts are paid and assets are distributed according to the will or state law. Zapolis & Associates helps clients navigate probate efficiently to minimize stress and delays.
How Long Does the Probate Process Take?
The timeline depends on the complexity of the estate and whether there are disputes among heirs. Simple estates may be settled in a few months, while more complicated cases can take a year or longer. Our attorneys work to streamline the process while protecting your interests. To learn more about the probate process, click here.
What Are the Costs Associated With Probate?
Probate costs can include court fees, attorney fees, and administrative expenses. At Zapolis & Associates, we provide clear guidance on expected costs and work to manage the process efficiently to reduce unnecessary expenses.
How Can Zapolis & Associates Help During Probate?
We guide executors and family members through every step of probate, from filing the necessary documents to distributing assets according to the will. Our goal is to ensure that the estate is settled correctly and fairly while avoiding common legal challenges.
