Resources
Blog
Estate planning insights and legal resources.
How Irrevocable Trusts and Gifting Can Reduce Your Illinois Estate Tax
Growing retirement savings through a 401(k), REIT, and other investment accounts enables many people to put away a significant nest egg. Yet it’s dismaying to learn how much of a bite is taken out of those funds by taxes, especially upon transfer to an heir. In Illinois, an estate tax of up to 16 percent
September 9, 2025
Can a Revocable Trust Become Irrevocable in Illinois?
Trusts are estate planning tools that are used in place of or in addition to wills, for legal and financial reasons. Trusts preserve a person’s (the grantor’s) assets for their heirs or beneficiaries. These accounts are classified as revocable or irrevocable. Revocable trusts can also be converted to irrevocable. It’s not unusual for people to
May 19, 2025
Do I Need a Will if I Already Have a Trust in Illinois?
Wills and living trusts are not mutually exclusive, nor does one override the other – if they are created to work together. If you’ve spent your life working hard, you want assurance that your family members will enjoy that legacy by inheriting your estate. Making that happen is the job of an estate planning attorney.
May 12, 2025
Illinois Trusts: Revocable vs. Irrevocable
When you’re creating an estate plan, finding ways to reduce the hassle your loved ones experience upon your death and securing your legacy can be tough. But using revocable and irrevocable trusts can help you take control of their inheritance and your final wishes for your assets. While your Illinois estate planning attorney can help
April 11, 2025
The Benefits of Establishing a Living Trust in Illinois
Creating an estate plan is one of the best ways to preserve your interests and keep your loved ones’ well-being in mind. But it can involve far more than just writing a will or choosing a power of attorney. You want to account for your full estate and find ways to make inheriting your estate
March 17, 2025
Is a Trust Better Than a Will in Illinois?
If you’re exploring the estate planning process, you’ve likely encountered two tools: wills and trusts. Both of these tools can help you distribute assets to your loved ones and chosen beneficiaries, but they work in different ways. Before you can decide if a trust is better than a will for your situation, it’s helpful to
January 29, 2025
Should You Put Your House in a Trust in Illinois?
Planning for your loved ones’ futures is a simple way to leave a lasting legacy, and the best way to do that is to create a comprehensive estate plan. These plans can go beyond simple wills and power of attorney designations. They can also include trusts designed to simplify the inheritance process, which can be
December 12, 2024
Testamentary Trusts: The Best of Both Worlds
You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of both—through
April 23, 2024
I m a Survivor . . . and Now I Have My Own Trust?
Many married couples share almost everything, including finances. This may be reflected in their estate plan by using one joint living trust instead of two separate trusts. Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spouse passes away, the trust is split into two subtrusts: a
April 23, 2024