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Oak Brook Estate Planning Attorneys | Estate Administration Lawyer, Oak Brook IL

Oak Brook Estate Planning Attorneys | Estate Administration Lawyer, Oak Brook IL

Our Oak Brook estate planning attorneys will make a thorough, detailed, and complete estate plan that will cover any eventuality and give you peace of mind.

Our Oak Brook estate planning attorneys will make a thorough, detailed, and complete estate plan that will cover any eventuality and give you peace of mind.

Our Oak Brook Estate Planning & Administration Lawyers Can Assist You With All Of Your Estate Planning Needs:

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Why O'Flaherty Law for My

Estate Planning

Matter?

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

  • We Are Affordable!  We don't base our prices on what others charge for your estate planning needs  Instead, we base them on the time it will typically take us to meet with a client and prepare documents (which isn't terribly long).  If we aren't the most cost-effective solution for the creation of your estate plan, we would like to hear about it.
  • We Go Above-And-Beyond!  Many Estate Planning attorneys will prepare forms haphazardly, fail to properly explain them, and fail to assist you to properly fund the trust.   We take the time to fully educate and instruct you about Estate Planning, walk  you through each of your documents, and work with you free of charge to assist you in transferring your assets into your trust, cut through any red tape, and answer questions you may have.  
  • We Know Our Stuff!  We are experienced in cutting edge Estate Tax Avoidance Techniques, Special Needs Trusts, Creditor Protection Strategies, and other specialized techniques to fit your situation.  We are not selling forms, but providing real customized expertise.    
  • We are Comprehensive!  You need an Estate Plan today, though you may need help with a different legal issue tomorrow.  Wouldn't it be nice to work with the same trusted adviser for all of your legal solutions?  At O'Flaherty Law, our team approach provides you with experts in nearly every area of law.  Regardless of your legal needs, you will get the same trusted quality of service and continuity of care.    

Some of Our Accomplishments

Schedule a Free Consultation With Our

Oak Brook Estate Planning & Administration Attorneys

Please contact our friendly

Oak Brook Estate Planning & Administration Attorneys

at our nearest location to schedule a free consultation:

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 - Fri

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney, Downers Grove Lawyer, Downers Grove Lawyers

Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys, Naperville Lawyers, Naperville Lawyer

Naperville

105 Jackson Avenue, Ste. 4b Naperville, IL 60540

Elmhurst Lawyer, Elmhurst Lawyers, Elmhurst Attorneys, Elmhurst Attorney

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney, Lake in the Hills Lawyer, Lake in the Hills Lawyers

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys, Tinley Park Lawyer, Tinley Park Lawyers

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

St. Charles Attorneys, St. Charles Lawyers, St. Charles Attorney, St. Lawyer

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

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.

Here's What Our Clients Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.

Click here for Videos, Podcasts, and Articles by our Oak Brook Estate Planning & Administration Attorneys

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

Illinois Trust Administration: Selling Real Estate

In this episode of Learn About Law, we explain the responsibilities of a trustee when selling real estate after a loved one passes away. Have any questions that weren't answered here? Let us know in the comment section! Subscribe: https://www.youtube.com/channel/UCY4Q...

If you are a trustee responsible for the administration of a trust after the passing of a loved one, you have a fiduciary duty to act in the best interest of the beneficiaries of the trust, within the limitations and instructions laid out by the trust document.  

If a trust is in place and estate planning has been done properly prior to the death of the grantor of the trust, it should not be necessary to open a probate estate.  However, if the beneficiaries disagree with the actions of the trustee, the beneficiaries may open a probate case and seek to make the trustee personally liable for mismanaged assets of the estate.  

Trustee responsibility is fairly cut and dry when dealing with liquid assets like a checking account.  However, the trustee's responsibility becomes more complicated when dealing with non-liquid assets like real estate.  

When real estate is present in an estate, the trustee must first decide whether to transfer the real estate to one of the beneficiaries.  This will usually result in a reduction of the share that the beneficiary is due from the remainder of the estate's assets or a payment from the beneficiary to the estate for the value of the home.  An alternative to an insider transfer is to sell the real estate on the open market and distribute the proceeds among the beneficiaries.  

Regardless of what is to become of the real estate, I recommend that the trustee seek written approval from all of the beneficiaries of the trust prior to the transaction.   In the absence of this written approval, one or more of the beneficiaries may later claim that the real estate was sold to a third party or transferred to one of the beneficiaries for less than market value.   The beneficiary could then open a probate case and seek to hold the trustee personally liable for breach of fiduciary duty.  

For example, if the market value of a home is $400,000.00 and the Trustee sells it for $300,000.00, whether to a third party or to an insider, the trustee may be personally liable for the $100,000.00 difference between market value and sale price.  However, if the trustee has received written agreement from the beneficiaries prior to the sale, the trustee will be able to rest easy knowing that she is protected from any future liability. 

Read More

If you are a trustee responsible for the administration of a trust after the passing of a loved one, you have a fiduciary duty to act in the best interest of the beneficiaries of the trust, within the limitations and instructions laid out by the trust document.  

If a trust is in place and estate planning has been done properly prior to the death of the grantor of the trust, it should not be necessary to open a probate estate.  However, if the beneficiaries disagree with the actions of the trustee, the beneficiaries may open a probate case and seek to make the trustee personally liable for mismanaged assets of the estate.  

Trustee responsibility is fairly cut and dry when dealing with liquid assets like a checking account.  However, the trustee's responsibility becomes more complicated when dealing with non-liquid assets like real estate.  

When real estate is present in an estate, the trustee must first decide whether to transfer the real estate to one of the beneficiaries.  This will usually result in a reduction of the share that the beneficiary is due from the remainder of the estate's assets or a payment from the beneficiary to the estate for the value of the home.  An alternative to an insider transfer is to sell the real estate on the open market and distribute the proceeds among the beneficiaries.  

Regardless of what is to become of the real estate, I recommend that the trustee seek written approval from all of the beneficiaries of the trust prior to the transaction.   In the absence of this written approval, one or more of the beneficiaries may later claim that the real estate was sold to a third party or transferred to one of the beneficiaries for less than market value.   The beneficiary could then open a probate case and seek to hold the trustee personally liable for breach of fiduciary duty.  

For example, if the market value of a home is $400,000.00 and the Trustee sells it for $300,000.00, whether to a third party or to an insider, the trustee may be personally liable for the $100,000.00 difference between market value and sale price.  However, if the trustee has received written agreement from the beneficiaries prior to the sale, the trustee will be able to rest easy knowing that she is protected from any future liability. 

Read More

The 8 Goals of A Good Estate Plan

Oak Brook Estate Planning Attorneys, Oak Brook Estate Planning Lawyers, Oak Brook Estate Adminsistration Attorneys, Oak Brook Estate Arministration Lawyers

Oak Brook estate planning attorney, Kevin O'Flaherty, outlines the 8 goals of a good estate planning.

Oak Brook Estate Planning Attorneys, Oak Brook Estate Planning Lawyers, Oak Brook Estate Adminsistration Attorneys, Oak Brook Estate Arministration Lawyers

Our Estate Planning attorneys explain the estate planning process and the many different parts that equal a great estate plan that eliminates worry and doubt about a time that's the most sensitive.

Our Oak Brook estate planning attorneys will help you prepare all the documents to ensure you have a solid estate plan that takes all things into account.

Read the article by our Oak Brook estate planning attorneys about the 8 Goals of a Good Estate Plan

Estate Planning Goal #1: Appointment of Fiduciaries & Distribution of Assets

These next articles by our Illinois attorneys discuss appointing fiduciaries and asset distribution.  The success of your estate plan relies on having every detail of all possible eventualities documented and accounted for and our Oak Brook estate attorneys help you every step of the way   Your plans purpose is to allow individuals you appoint to financial and healthcare decisions for you in the scenario you become mentally incompetent.

Read an article by our Oak Brook estate planning attorneys about how to use your estate plan to appoint fiduciaries. 

Read an article by our Oak Brook estate planning lawyers about how to use your estate plan to arrange for the distribution of assets. 

Oak Brook estate planning attorney, Kevin O'Flaherty, discusses how to use an estate plan to appoint fiduciaries to important roles in your life.

These next articles by our Illinois attorneys discuss appointing fiduciaries and asset distribution.  The success of your estate plan relies on having every detail of all possible eventualities documented and accounted for and our Oak Brook estate attorneys help you every step of the way   Your plans purpose is to allow individuals you appoint to financial and healthcare decisions for you in the scenario you become mentally incompetent.

Read an article by our Oak Brook estate planning attorneys about how to use your estate plan to appoint fiduciaries. 

Read an article by our Oak Brook estate planning lawyers about how to use your estate plan to arrange for the distribution of assets. 

Estate Planning Goal #2: Probate Avoidance Upon Death

Oak Brook estate planning attorney, Kevin O'Flaherty, explains how to ensure your estate avoids probate upon your death.

Oak Brook Estate Planning Attorneys, Oak Brook Estate Planning Lawyers, Oak Brook Estate Adminsistration Attorneys, Oak Brook Estate Arministration Lawyers

In this article, our Oak Brook estate planning attorneys discuss revocable living trusts. They explain how they are used so your estate avoids probate, Probate is required in Illinois after you pass and have real estate worth $100,

O'Flaherty Law will ensure you never have to wory about your estate planning and administration worries.

Read the full article by our Oak Brook estate planning attorneys on how to use revocable living trusts to avoid probate. 

Further Reading from our

Oak Brook Estate Planning & Administration Attorneys