Will County Trusts Attorneys
Joliet Lawyers for Trusts and Estate Planning
When you have questions about preparing for the future, the experienced team at the Davi Law Group can help you find the answers. Our attorneys work with clients in understanding the various available instruments of estate planning, including wills and trusts. When properly developed, these tools provide a sturdy foundation for an individual’s estate plan. With our knowledge and training, we are able to assist in you in establishing trusts, while educating you on the importance of legally sound protection and management of your estate.
Depending upon the composition of your estate and your intended estate planning goals, setting up a trust may be a worthwhile part of your approach. The attorneys at the Davi Law Group have helped hundreds of clients throughout Northern Illinois establish trusts and are ready to help you. We understand the details, procedures, and language needed to create the necessary legal documents to protect the fruits of your life’s work.
What is a Trust?
A trust, by definition, is an instrument for managing assets and property. Trusts are routinely used as part of the estate planning process to provide for the protection of the estate both prior to and after an individual’s death. In establishing a trust, the creator, or grantor, transfers property out of his or her personal ownership and into the trust. The trust is managed and maintained by one or more designated individuals known as trustees. A trustee is responsible for carrying out the instructions contained within the written document creating the trust, including the allocation of the trust’s assets to intended beneficiaries.
There are a number of different types of trusts, each governed by applicable laws and guidelines. The most common types include:
- Revocable living trusts;
- Irrevocable trusts;
- Children’s trusts;
- Dynasty trusts;
- Testamentary trusts; and
- Special Needs Trusts, sometimes called Supplemental Needs Trusts.
The type of trust or trusts that may be relevant to your estate planning needs will depend on a variety of factors. The size and nature of your estate, family dynamics, and your intentions regarding the allocation of your property, among others, will help our attorneys find the appropriate tools to meet your needs. Unlike a will, which only becomes effective upon your death, a trust become effective immediately and you can usually serve as trustee for as long as you are able. Of course, you will need to provide for a successor or an alternate trustee in the event of your death or incapacitation, but the nature of most trusts allows you to remain in full control of your estate for as long as possible.
Call 815-582-4901 for an Appointment Today
If you have questions about trusts, wills, or any other aspect of estate planning, turn to the team committed to serving your needs. Contact the Davi Law Group to schedule your free introductory consultation. You can get to know our attorneys and receive an honest assessment of your situation. Should you retain us as your counsel, financing options are available. We are proud to serve clients in Will County and throughout the Chicago area.