Chicago Estate Planning Attorney
Which Estate Plan is Right for Me?
Deciding how to dispose of assets after death is a task that most people would rather ignore. In fact, only one-third of American adults have taken the time to plan their estates, and most of them believe that a simple will is all you need to plan for the future. Our estate planning attorney will tell you that you need to determine your goals and objectives and then create a plan that will accomplish them. While writing a will is one way to distribute your property after you die, a will is not the only method available, and it may not be the most beneficial to your situation. Learn more about the benefits of drafting both a will and trust for estate planning in Illinois.
- Asset Protection
- Bankruptcy Asset Protection
- Power Of Attorney
- Probate & Trust Administration
Do I Need Estate Planning?
Estate planning is premised on multiple issues: accumulating assets and earnings, preserving assets, distributing assets after death and reducing administrative expense and confusion during your life and after death. It may sound simple, but it is not. Certain challenges, such as probate administration and inheritance taxes, can prevent your estate from being managed and distributed according to your wishes. Our asset protection lawyer can also use estate planning to safeguard your property from creditors in the event of a future bankruptcy filing.
Our attorneys know that estate planning is about securing peace of mind for you and providing adequate resources for your loved ones. At MacDonald, Lee & Senechalle, Ltd. , we do not make decisions for you. Instead, our team of estate planning lawyers, headed by Gregory A. MacDonald and Alfred S. Lee, will educate you about the Illinois estate planning process and options. You make the decisions yourself. To make sure that your wishes are executed, we work with your financial planner, insurance company and accountant.
Our estate plans are tailored for each client and include but are not limited to:
- Testamentary trusts
- Living trusts (revocable)
- Property Power of Attorney
- Health Care Power of Attorney, HIPAA Release and Living Wills
- Trust asset funding
- Supplemental Needs Trusts
- Qualified domestic trusts
- Qualified personal residence trusts
- Charitable remainder trusts
- Charitable lead trusts
- Grantor retained annuity trusts
- Grandchildren’s education trusts
- Irrevocable trusts
How An Estate Planning Lawyer Can Help
Our estate planning and will law practice includes guiding and assisting you in determining your objectives in the estate planning process, providing you with alternative approaches to accomplishing your objectives and designing your chosen plan to meet the stated objectives. We will assist you in implementing your plan and we can also assist you with the asset transfers necessary for many estate plans to function properly. Dying without a will in Illinois is preventable, no matter the size of your estate or estate planning budget. Make sure your loved ones receive the assets you wish them to receive while avoiding Illinois intestacy laws.
If you would like to build a relationship with a Illinois estate planning law firm that provides high quality legal services, with honesty and integrity, please contact our estate planning attorney to set up a free one-hour estate planning consultation.