Illinois Estate Planning Lawyers – Revocable and Irrevocable, Family, Insurance and Living Trusts
At Bush & Heise we can set up any type of trust to meet your estate planning goals. From revocable or irrevocable trusts to living trusts, our estate planning lawyers can meet with you to help determine what type of trust is your best option.
If you need help planning your estate, contact a one of our Barrington trust attorneys by calling 1-847-382-4560 to schedule a free initial consultation to explore your options.
Why Create a Trust?
Trusts are more complex than a simple will; however, there are numerous advantages to creating a trust, including:
Minimization of estate taxes: A trust can help you avoid estate taxes, particularly when your estate exceeds the current credit shelter amount.
Avoid probate:Probate can be a lengthy and expensive process. A well-crafted trust will avoid probate of your estate.
Control when inheritance is distributed: A trust can be set up to disburse inheritance to your heirs at a time of your choosing. Under a will, your heirs will collect at once, which can lead to obvious problems if your heirs are young adults.
Confidentiality: Probate proceedings are public information. If it is important to you to keep the value of your estate private, a trust will assure confidentiality.
These are just some of the advantages a trust affords. Our experienced Barrington trusts attorneys can inform you about the various trusts available, from special needs trusts to insurance trusts. Our law firm can help you with all of your estate planning needs.
SPECIAL NEEDS TRUSTS
Special needs trusts are used to provide money for disabled children, disabled spouses and elderly parents without making the beneficiary ineligible for governmental benefits. If you are concerned about your personal savings being exhausted by nursing home expenses, you can also create a special needs trust for yourself as a part of the Medicaid planning process.
If you place money in a special needs trust for a disabled beneficiary, that money is not counted as the beneficiary’s personal asset when determining eligibility for Medicaid or other government benefits. If you give the money directly to the beneficiary, it must be spent before the beneficiary is eligible to receive government benefits.
If you would like to learn more about special needs trusts, contact one of our experienced estate planning attorney to schedule a free, no obligation initial consultation to better understand your options.
There are several times when people use special needs trusts:
To provide a source of money to disabled children
To provide a source of money for a disabled spouse
To provide a source of money for a loved one in a nursing home
To preserve assets that would otherwise be spent on nursing home care
Many people are reluctant to set up a special needs trust for themselves because they are concerned about losing control of their assets. While you will lose control of your assets if you place them in special needs trust, you need to weigh that against the benefit of preserving your assets.
Our estate planning lawyers have over 40 years of experience assisting clients with special needs trusts. Contact our estate planning law firm to speak directly with an attorney.
Attorney Brian L. Heise is member of National Academy of Elder Law Attorneys.
CONTACT US TODAY FOR A FREE CASE EVALUATION
If you would like to know what estate planning options are available to you, contact a one of our Illinois living trust lawyers today.
We are proud to serve clients throughout northern Illinois, including communities in Cook, Lake and McHenry Counties with respect to matters of family law, estate planning, elder law and probate.
If you have legal concerns and are unsure of what to do, contact an experienced family law attorney or estate planning lawyer at Bush & Heise today. Call us at 1-847-382-4560 or click here to schedule a free initial consultation for an honest and straightforward assessment of your case. We accept Visa and MasterCard payments, and we are available evenings and weekends by appointment for your convenience.
Bush & Heise is a full-service family law, estate planning and elder law firm located in Barrington, IL. We represent clients throughout northeastern Illinois including the communities of Algonquin, Arlington Heights, Barrington, Barrington Hills, Bartlett, Buffalo Grove, Cary, Crystal Lake, Deer Park, Fox River Grove, Hawthorn Woods, Hoffman Estates, Inverness, Kildeer, Lake in the Hills, Lake Zurich, Long Grove, McHenry, Mount Prospect, Mundelein, North Barrington, Palatine, Rolling Meadows, Roselle, Schaumburg, Streamwood, Wauconda and Woodstock
We are open and available for in-person case consultations. Please call us at (847) 382-4560 today.
At Bush & Heise, we are committed to servicing your case as much as ever. Although courts may be closed and the world seems to be changing at an ever present rate, we still have tools to ensure that your divorce, custody, paternity or estate planning matter can move forward. We are adapting to the changes and taking all steps to make sure that our level of service is not altered by the COVID-19 pandemic. Please know that to the extent applicable, we can take the following steps on new and existing cases:
Initiate divorce and parentage cases;
File motions and pleadings seeking relief;
Obtain court dates after May 18, 2020;
File emergency motions (if the circumstances call for same);
File Petitions for Orders of Protection;
Initiate and respond to discovery;
In some cases, conduct hearings and pre-trials with the Judges remotely;
Participate in mediation electronically;
Negotiate settlement agreements with opposing counsel;
Enter Agreed Orders which become immediately enforceable;
Enter Judgments for divorce; and
Actively work on estate plans, will or trust modifications
While the current state of national health emergency continues to evolve, rest assured that our level of commitment to our clients remains unchanged. Please reach out if you have any questions or would like to schedule a phone or Zoom (video) consultation.
