Yorkville Living Trusts Lawyer Serving Kendall County

Estate Planning Attorney Helping You Protect Your Family and Preserve Your Legacy in Yorkville, IL

When your family is looking to create a comprehensive estate plan, you have multiple options available. However, it is important to remember that your estate plan is about more than just paperwork. With a living trust that is crafted correctly, you can not only pass your assets to your loved ones, but you can protect your wealth, minimize stress for yourself and your family members, and guard against risks that may affect you in the future.

At Gateville Law Firm, we are here to serve as your partner in developing a comprehensive estate plan that will meet your family's needs. We will not just draft documents for you, but we will serve as your trusted advisor on the best ways to plan for the future. We will guide you through every step of the estate planning process, providing you with confidence that you will be prepared for whatever the future may bring.

What Is a Living Trust?

A trust is a legal agreement in which the original owner of property (who is known as the settlor or grantor) gives ownership of their assets to another person or entity (known as the trustee), who will hold it and distribute it to another person (the beneficiary). After a trust is created and funded, the trust itself will own the assets. The settlor may provide specific instructions on when and how their money or property should be transferred to different beneficiaries.

With a living trust, the settlor retains the right to revoke or modify the trust at any time. The settler can serve as the trustee, which will allow them to manage and control their assets. The settlor may also name themselves as a beneficiary, allowing them to use the assets in the trust for certain purposes during their lifetime.

Why Choose a Living Trust?

A revocable living trust is one of the most effective estate planning tools available. When properly prepared and funded, a living trust allows you to:

• Avoid the delays and costs of probate court, which will be required when using a will to pass assets to beneficiaries
• Maintain privacy and ensure that your family's financial affairs will be kept out of the public eye
• Ensure that your assets will be managed correctly if you become incapacitated
• Provide flexibility when addressing concerns related to blended families, farmland, or unique property
• Protect your assets from potential lawsuits, the requirement to divide assets during a divorce, or being depleted by long-term care expenses

Who Can Benefit From a Living Trust?

Through our estate planning services, we can provide guidance to people and families in a wide range of circumstances. We will advise you on whether a living trust can help you achieve your goals. This may be the best solution for:

• Seniors and Retirees: Living trusts can help people in the later stages of their lives prepare for secure and stress-free futures.
• People Who Work in Healthcare, Education, or Law Enforcement: Unique retirement and pension planning concerns can be addressed through living trusts.
• Parents: People who have either minor or adult children can provide clarity and financial protection for their families through living trusts.
• Owners of Farmland or Rural Property: Thoughtful succession planning may be needed when addressing ownership of family farms, and living trusts can provide a beneficial way to pass property to the next generation.
• Small Business Owners and Professionals: Liability and asset protection challenges may be a primary concern for business owners, and living trusts can help protect assets.
• High Net Worth Families: Living trusts can be a great solution for handling estates with assets exceeding $1 million, and they can help safeguard wealth.

What Makes Gateville Law Firm Different?

Our team will not use standard, generic documents when we work with you to develop an estate plan. We offer comprehensive services that provide the following benefits:

• Ongoing Advice: We know that estate planning is not a one-time transaction. Instead, it is an ongoing process, and updates may be needed to address any changes your family experiences. Rather than simply drafting documents for you, we will provide you with the advice you need to make sure you are prepared for the future.
• Comprehensive Trust Documents: We carefully draft trusts that address all issues, making sure to avoid any gaps, errors, omissions, or unexpected issues. In most cases, our trusts are more than 70 pages long, ensuring that they cover all of your needs.
• Organized Document Binders: We provide every client with a professional binder containing all documents and making sure they understand what is included. We also provide secure electronic copies of all documents.
• Customized Property Searches: We can perform title searches on the property owned by a family. This can help resolve any outstanding ownership issues and prevent expensive disputes.
• Regular Trust Reviews: We will provide ongoing guidance to ensure that you know how to fund and manage your trust and use your assets as intended.
• Ongoing Education: Through our blogs, frequently asked questions, videos, and newsletters, we provide the information you need to address your ongoing estate planning, asset protection, and wealth preservation needs.
• Client Seminars: We provide regular free education sessions for Yorkville families.
• Real Estate Concerns: Our team has decades of experience in matters involving real estate law and title issues. We can assist with the transfer of rural property, the management of investment properties, and downsizing to ensure that these issues can be handled seamlessly.
• Dedicated Staff: Our team has the knowledge and experience needed to help address all concerns related to estate planning and real estate law that you may encounter.
• WealthCounsel Membership: We use professional software to draft legal documentation, and we have access to a nationwide attorney network that is trusted by top estate planning professionals.

Commitment to Our Community

To help our clients make the right decisions as they address concerns related to estate planning, we regularly host free seminars in Yorkville. Attendees can learn about issues such as:

• The benefits of revocable living trusts
• Proper funding of trusts and asset titling
• Protecting assets against lawsuits and nursing home costs
• Coordinating retirement accounts with an estate plan

Contact Our Yorkville Living Trusts Attorney

You do not want to wait until a crisis occurs to make sure you have an estate plan in place. At Gateville Law Firm, we can help you take a proactive approach that will protect your family, preserve your wealth, and provide you with peace of mind. Contact our Yorkville, IL living trusts lawyer at 630-780-1034 to schedule a consultation and learn more about our estate planning services.