Estate Planning

Stock, Carlson, Oldfield & McGrath LLC

Illinois Probate and Trust Lawyers

Wheaton Estate Attorneys in Probate and Trust

One of the freedoms we enjoy is the ability to dispose of our assets as we wish. One way to direct the disposition of one's assets at death is by a will. Another is by a trust. Sometimes people do not have either, and the person's assets pass to the person's heirs, who are the people the law says will inherit in the absence of a will.

The Probate Process

When the direction has been made by a will, or if the deceased person had neither a will nor a trust, the estate is subject to the probate process. This is the process by which the court appoints a legal representative (the Executor or Administrator) to gather the deceased person's assets, pay his or her bills, and then distribute the remainder to the beneficiaries named in the will, or to the heirs if there is no will.

Probate can be expensive and complicated, involving issues of property, winding up or transfer of a business, resolution of claims, special tax returns and other factors. The Executor or Administrator has to handle all of these matters as well as preparing detailed accountings of the financial transactions in the probate process. A skilled probate attorney will help the Executor or Administrator properly fulfill these duties, can minimize conflicts and possibly save a great deal of emotional stress.

Use of a Trust

One of the ways a person can avoid the probate process entirely is by setting up a trust. When a trust is properly funded, most people can avoid the probate process and maintain a level of privacy concerning their assets. These are among the primary reasons for the popularity of trusts. But while many of the probate expenses are avoided, the issues of property, winding up or transfer of a business, resolution of claims, and the like are still often present; and the trustee must not only deal with these issues but must also file special tax returns and prepare detailed accountings of the financial transactions of the trust. Again, an attorney skilled in trust administration will help the trustee fulfill these duties.

Qualified Attorneys You Can Trust

At the law firm of Stock, Carlson, Oldfield and McGrath LLC in Wheaton, Illinois, we have a team of attorneys, who each have over 40 years of legal experience and knowledge in all areas of estate and trust administration. Our clients have trusted us throughout the years to handle their business affairs and complex legal matters dealing with the different types of estates and trusts.

Contact Our Attorneys Today

Contact our probate and trust attorneys at Stock, Carlson, Oldfield and McGrath LLC in Wheaton, if you have questions about the probate process or trust administration. We can offer you comprehensive legal guidance so that you can make the most informed decision. Call us today at (630) 665-2500.

 
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