Oak Brook Illinois Wills and Trusts Lawyers
Attorneys For Wills, Trusts and Probate Serving Oak Brook, Cook County and DuPage County
When an individual becomes disabled or passes away, it is essential to have written instructions regarding their final wishes. Otherwise, these critical decisions will be decided by a probate court and not necessarily in keeping with the wishes of the individual. Wills and trusts are tools that help individuals distribute their assets to their chosen beneficiaries upon death. To ensure you have the right tools in place for your estate, it is important to work with a skilled estate planning lawyer.
At Tiesenga Reinsma & DeBoer LLP, we have over a century of combined estate planning, probate, and trust administration experience. We handle estates of all levels of complexity, crafting innovative and practical solutions designed to fit your specific needs. From basic wills to powers of attorney to the most complex estate planning tools, we provide comprehensive guidance that effectively accounts for your family, finances, and goals. We understand that legal needs often arise on short notice, and we work hard to remain accessible when you need us and provide timely solutions for your legal issues.
Wills vs. Trusts
Wills and trusts have similar functions; both can spell out who are the beneficiaries of your assets and who is in charge of your estate after you die. However, there are several differences in the way they are set up and how they carry out these functions. Wills are much simpler documents and can be created by anyone who is 18 years of age or older and of sound mind and with the signatures of two witnesses who have no vested interest in the estate. Along with naming an executor for your estate, wills can designate guardians for minor children, designate managers for the property of minor children, instruct on how assets should be distributed, and how taxes and debts of the estate should be paid. A will can also include language creating a trust or allocating property to trusts that have already been created.
Trusts are more complex than wills, and there are numerous types that can be created for various purposes. Trusts offer several advantages, including:
- Avoid probate court proceedings,
- Maintain confidentiality (no public court records),
- Greater protection from legal challenges to the estate, and
- Avoid court-appointed conservatorships.
Trusts are often set up to protect disabled heirs, disinherit heirs that would otherwise have an automatic right to a statutory share of the probate estate, donate assets to charity, and reduce estate tax exposure. They can work in conjunction with wills and other tools to fully protect the interests of the deceased person and help ensure his or her final wishes are fully carried out.
If you need assistance with wills and trusts and other estate planning guidance, we are here to help. For a personalized consultation with one of our experienced attorneys, contact our office today at 630-645-1403. Tiesenga Reinsma & DeBoer LLP provides skilled counsel, advice, and legal representation for clients in Illinois from our Oak Brook, Illinois location.