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Elmhurst Estate Planning Attorneys | Estate Planning Lawyers, Elmhurst Illinois

Elmhurst Estate Planning Attorneys | Estate Planning Lawyers, Elmhurst Illinois

Our friendly Elmhurst estate planning attorneys will take the time to educate you on how you can use trusts, Wills, and Powers of Attorney in an affordable manner to protect your family and assets. We will help you ensure (1) that your assets are properly distributed to your loved ones when you pass; (2) that your estate will avoid the costly and time-consuming probate process; (3) that you have a guardian named for minor children; (4) that estate tax will be avoided or minimized; and (5) that an expensive guardianship proceeding will not be necessary if you become mentally incompetent. We are proud of our cost-effective rates and our hands-on client service. Please call us today at (331)253-4060 to schedule a free consultation with our Elmhurst estate planning attorneys.

Elmhurst Estate Planning Attorneys

provide excellent service in the following areas of law:
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Why O'Flaherty Law for My

Estate Planning

Matter?

In this video, our Elmhurst Estate Planning & Administration attorney describes why O'Flaherty Law is the best choice for your estate matter.

Serving Illinois, Iowa, & Indiana:


We serve Iowa in Scott County and the Quad cities with our location in Davenport.

With Locations in:

Schedule a Free Consultation With Our

Elmhurst Estate Planning Attorneys

elmhurst will and trust lawyer

What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Elmhurst Estate Planning Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Elmhurst

110 E. Schiller Street, Ste. 200B
Elmhurst
,
IL
60126
Get Directions

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours:
9 am - 5 pm Mon - Friday
After 5 pm by Appointment
11 am - 3pm Saturday & 11 am - 2 pm Sunday by Appointment

O'Flaherty Law, Illinois attorneys, Iowa attorneys

Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

Click here for Videos, Podcasts, and Articles by our Elmhurst Estate Planning Attorneys

elmhurst trust attorney

Or Continue Scrolling Below to Browse some of our Most Helpful Articles

estate planning attorney elmhurst illinois

Actions To Modify a Trust | Reformation of Wills and Trusts Explained

In this article, we discuss the actions taken in reformation of wills and trust and answer the following questions: What is reformation of a will or trust?, What is reformation of a trust based on mistake?, What is reformation of a trust based on changed circumstances?, and What evidence is necessary in a reformation suit?

Read More

In this Learn About Law podcast & videoblog, Elmhurst Estate Planning & Administration attorney Kevin O'Flaherty of O'Flaherty Law discusses the 8 Goals Of A Good Estate Plan.

Immigrant and Non-Immigrant Visa Petitions

In this article, we will discuss immigrant and non-Immigrant visa petitions and answer the following questions: what is an immigrant visa?, what are the various categories of immigrant visas?, what is a non-immigrant visa?, and what are the most common non-immigrant visa categories?


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Elmhurst estate planning attorney Kevin O'Flaherty discusses the importance of having an Estate plan when you have children.

How long does a non immigrant visa take to process?

Immigrant and Non-Immigrant Visa Petitions

In this article, we will discuss immigrant and non-Immigrant visa petitions and answer the following questions: what is an immigrant visa?, what are the various categories of immigrant visas?, what is a non-immigrant visa?, and what are the most common non-immigrant visa categories?


Read More

Elmhurst estate planning lawyer Kevin O'Flaherty explains how we use revocable living trusts to avoid costly probate.

Specialized Estate Planning Goals

Many of our clients have special circumstances requiring the knowledge that only an experienced estate planning attorney can provide.  Many estate planning lawyers do not have the experience necessary to accomplish these goals, but we do:

Estate Tax Avoidance: You worked hard over your lifetime to build wealth for your family.  When you pass, you want your loved ones to receive the fruits of your labors, not the government.  Without a proper estate plan, state and federal estate tax can consume at least 35% of the value of your estate, depriving your loved ones of these assets.  Our experienced Elmhurst estate planning attorneys can help you create an individualized strategy to completely avoid estate tax when you pass.  We will work with you to exercise every avenue available under the law to minimize your estate tax exposure and ensure that your family receives the benefits of your hard work. 

Protection of Assets from Creditors: If you are in a profession with high liability, our Elmhurst estate planning lawyers will use irrevocable trusts, family limited partnerships, and life estate deeds to make sure that creditors cannot come after your most valuable assets.  If you are ever sued, we can ensure that your home and your wealth stay in your family where they belong.

 Medicaid & Long-Term Care Planning: If you or your parent are facing the prospect of long-term care, you can apply for Medicaid benefits to cover the exorbitant costs associated with such care.  Did you know that in order to receive Medicaid benefits, you are required to first spend down your own assets?  You will have to show that you have less than $2,000.00 in total assets before being eligible for Medicaid.  Our experienced Elmhurst elder law attorneys can use life estate deeds and irrevocable trusts to help you become eligible for Medicaid benefits while keeping your assets in your family and retaining the right to possession of your home.  We can also help you protect these assets from collection by the government to satisfy your long-term care bills after you pass.  You should be aware that Medicaid planning should begin at least 5 years before you apply for Medicaid, in order to maximize your options. 

Special Needs Planning:  If you or your child are disabled and receiving government benefits from Medicaid or social security, there are limits on how much income you can take in and the dollar amount of assets you can accrue without negatively affecting these benefits.  Through supplemental needs trusts, our Elmhurst special needs attorneys can allow you to earn an income, accumulate savings, receive gifts & inheritances, and maintain a decent standard of living without making you ineligible for your government benefits.  If you are the parent of a special needs child, your child's supplemental needs trust should be incorporated into your own estate plan to ensure that any inheritance they receive will not deprive them of their government benefits. 

Unlike many estate planning attorneys, our Elmhurst estate planning attorneys have the experience and skill necessary to accomplish your individualized goals, whatever they may be.   ​Read more from our Elmhurst estate planning attorneys regarding the 8 goals of a good estate plan. ​

​Is A Trust Appropriate For Me?

Many people have the misconception that Revocable Living Trusts are only for the wealthy.  In fact, Revocable Living Trusts are appropriate for most families, either instead of or in addition to a will.  You are a good candidate for a Revocable Living Trust if:

You own your home or condo, even if there is a mortgage: 

A trust will keep your estate out of a costly and time-consuming probate case.  A will won't.You have more than $100,000.00 in total assets: Again, a trust will keep your estate out of probate, while a will won't. You are a divorcee with a minor child: A trust will allow you to appoint someone you trust to manage your assets for the benefit of your child until he or she reaches adulthood, rather than have your ex-spouse gain control of the assets as your child's guardian. You have young children or young adult children who you do not want to receive a lump sum inheritance at your death:  A trust will allow you to appoint someone you trust to oversee the assets for your children's benefit, and retain discretion to make payments from the trust funds until your children reach certain ages, specified by you.  If you have a will or no estate plan at all, the assets will simply be distributed in a lump sum upon your death.

Further Reading from our

Elmhurst Estate Planning Attorneys