Revocable Living Trust Attorneys in Will County
Estate Planning Lawyers in Joliet, Aurora, and Naperville
While often difficult, the process of estate planning is very important for the security of your property and assets. In addition, the peace of mind a comprehensive estate plan can offer you and family is among the greatest gifts you could offer. Depending upon the circumstances of your situation, establishing a trust can be an ideal way to ensure your wishes are followed and that the needs of your loved ones are met. A revocable living trust, in particular, permits a designated individual, known as a trustee, to carry out the specified terms without action by the court. At the Davi Law Group, our highly-trained team is knowledgeable about all aspects of estate planning and can help you find the options that are right for you and your family.
The Benefits of a Revocable Living Trust
Creating a legally solid revocable living trust requires proper funding and planning, but when done correctly, such a trust can provide security for your assets and property both while you are alive and after your death. In contrast to a will, which must pass through probate prior to being executed, a revocable living trust can often avoid court intervention, providing a level of privacy and confidentiality unavailable with other instruments of estate planning. While you can remain a trustee for as long as you are capable, upon your death, your remaining trustee(s) are responsible for carrying out the terms of the trust in accordance with the Illinois Trusts and Trustees Act. He or she will allocate assets to named beneficiaries as appropriate and handle all of the issues related to the administration of your estate.
A revocable living trust can help you:
- Avoid Probate Court in most cases;
- Keep the details of your estate from becoming public record;
- Protect your property and assets for beneficiaries;
- Establish a plan for succession for multiple trustees, including yourself; and
- Customize terms to meet your specific needs.
While revocable living trusts can offer significant benefits, they may be not appropriate for every family situation. Some cases may be best served by a combination of a will and revocable living trust. The experienced attorneys at the Davi Law Group can provide the guidance you need in making your estate planning decisions, and will ensure you understand the full scope of your options.
Compassionate Trust Attorneys Dedicated to Serving You
As you consider your available estate planning possibilities, our team will help you find the solutions that best address your needs and those of your loved ones. At our law firm, serving your interests is our top priority. In developing your estate plan, we take into account:
- Protection of your assets and property;
- Potential tax considerations;
- Long-term care concerns; and
- Child and disabled adult dependents.
The structure of your trust and your estate plan, in general, should reflect your unique needs and family dynamic. With a revocable living trust, you maintain the ability to change or dissolve the trust for any reason at any time, unlike an irrevocable trust. Upon your death, however, any established trust becomes final. The Davi Law Group can work with your to ensure your existing trusts continue to remain aligned with your current circumstances.
If you would like more information about creating or updated a revocable living trust, contact our office today. We invite you to schedule a no-cost introductory consultation so that you can meet our team and understand our approach to estate planning. We are proud to serve clients throughout Will County and surrounding areas.