Trusts

Many people think trusts are only for the wealthy. This could not be further from the truth, as trusts can be very powerful tools that not only help you care for your loved ones after you pass, but also allow you to ensure your estate is managed exactly as you want. Trusts can also help you minimize your tax liability and...

Illinois Estate Planning Attorney

You may have heard some things about trusts that have peaked your interest. Trusts can be invaluable in the estate planning process. A trust can protect an inheritance for a minor child. A trust can provide support for a special needs loved one without jeopardizing the receipt of government benefits. A trust can even provide support for a beloved pet.

Illinois Estate Planning Attorney

A trust is an extremely valuable tool to consider using when you are in the estate planning process. In addition to the purpose, terms, and type of trust you want to establish, one of the most important decisions you will need to make is who will be the trustee of your trust. The trustee is tasked with managing the trust and also enforcing the terms of the trust. It is an important job and great care should be taken in your trustee selection. Some people select a friend, others will select a family member, and some will choose to appoint a professional trustee.

Estate planning is about so much more than a will. There are a variety of legal documents that you can put in place to distribute your property and assets to your heirs in a way that will provide such added benefits as avoiding probate and estate taxes. One such legal tool is the Irrevocable Life Insurance Trust (ILIT). M&A Law Firm is prepared to design a comprehensive estate plan that not only meets your specific needs, but also looks for the best interests of you and your loved ones.

As pet owners, many of us know that our pets are like members of the family. We love and care for them, and they love and look after us. It is a truly wonderful and unique relationship. When thinking about the future and estate planning, we think of those in our life that we want to take care of and provide for after we pass away. Many people do not realize that there is a way you can provide for your pets through the estate planning process.