A trust can simplify the probate process, help you save money on taxes, and enable you to provide for your descendants. A Rolling Meadows trusts lawyer can help you set up the right kind of trust for you.
When you hear about trusts in the news or in movies, it is usually in the context of very wealthy people hoarding their wealth or privileged young adults who fund their luxurious celebutante lifestyles with money from a family trust. Trusts are a way of keeping your money safe, but they are not only for people with astronomical levels of wealth. A Rolling Meadows trusts lawyer can show you the ways that a trust could be beneficial to your estate plan.
A trust is a separate legal entity that controls the assets deposited into it by the person who set up the trust. From a legal standpoint, setting up a trust is a lot like establishing a company. These are the dramatis personae involved in a trust:
When you set up a trust, you are its grantor. It is also possible for you to be a trustee or beneficiary of the trust.
Illinois law recognizes various types of trusts. Which one you want to set up depends on your financial circumstances and those of your family. These are the most common types of trusts with which Rolling Meadows estate planning lawyers assist clients:
A Rolling Meadows estate planning and trusts lawyer can help you save money on taxes and ensure stress-free probate for your estate. Contact Andrea Heckman Law in Rolling Meadows, Illinois, to create the right kind of trust for you.
Please contact our law office in Rolling Meadows for legal assistance with divorce, child custody, or visitation issues. We serve clients in the Chicago metropolitan area who need the help of an experienced and dedicated family law attorney.