Hiring the best Wills & Trusts Attorney can ensure that your wishes for the distribution of your assets and property after you pass away are carried out exactly as you want them to be. A competent estate planning lawyer can also help you minimize costly estate taxes and other taxes that could significantly reduce the inheritance your loved ones receive. An experienced trust and estate lawyer in Chicago can also assist with the administration of an estate or trust following death or incapacitation, often working to resolve disputes and claims by beneficiaries or creditors.
An estate planner can provide a number of services to individuals and families, including the preparation of various documents such as trust agreements, wills, durable powers of attorney for healthcare, and financial decisions, medical directives, and property declarations. They can also assist with the transfer of assets to younger generation family members, other individuals they wish to benefit, or charities. They can also provide guidance on tax issues such as federal estate, gift and generation skipping taxes.
The best attorneys have decades of experience drafting trusts and other estate planning documents and helping clients with the complex issues surrounding their assets and property. They will take the time to get to know you and understand your personal situation, desires and goals. This will allow them to tailor a specific plan that is unique to you. The firm’s founder, Mario Correa, has a BS from the University of Illinois and a JD from Loyola University Chicago School of Law. His extensive background uniquely positions him to anticipate client needs, reduce costs and enhance value.
An attorney from Hays Firm LLC can create a trust, a legal fiduciary relationship that outlines how you want your valuables to be distributed upon your death or incapacitation. A trust can help you avoid the lengthy and public probate process that may be required with a will, and it can protect your assets from being claimed by creditors or the state.
The firm can also prepare a living trust, which is a document that provides some privacy protection in addition to a will. A will is a public document, and friends and family can see its contents. A living trust, on the other hand, is private, and only those with a written agreement can access the information within it. The lawyer can also set up a disability planning trust, which will enable you to appoint someone to manage your trust assets in the event of your incapacity or disability.
An experienced attorney can also draft a will contest, which is a legal dispute that can be filed by an interested party. The most common grounds for a will contest are allegations that the deceased failed to make a valid will or did not name the right beneficiary. The firm can also assist with less common estate planning devices such as a third party special needs trust. For more information about hiring an experienced estate planning and trusts lawyer, contact Peck Ritchey, LLC today.