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Saint Charles Estate Planning Attorneys | Estate Planning Lawyer, Saint Charles IL

Saint Charles Estate Planning Attorneys | Estate Planning Lawyer, Saint Charles IL

Our Saint Charles estate planning attorneys will take the time to learn about your family's situation and educate you on what you can accomplish with revocable living trusts, wills and powers of attorney. We will ensure that when you pass your assets will be properly distributed to your loved ones without the need for a costly and time-consuming probate case. Our Saint Charles estate planning lawyers will assist you in appointing agents to act on your behalf if you become mentally incompetent, avoiding the need for a guardianship proceeding. We can also assist you in minimizing estate tax, protecting your assets from creditors, and special needs planning.

Our Saint Charles estate planning attorneys will take the time to learn about your family's situation and educate you on what you can accomplish with revocable living trusts, wills and powers of attorney. We will ensure that when you pass your assets will be properly distributed to your loved ones without the need for a costly and time-consuming probate case. Our Saint Charles estate planning lawyers will assist you in appointing agents to act on your behalf if you become mentally incompetent, avoiding the need for a guardianship proceeding. We can also assist you in minimizing estate tax, protecting your assets from creditors, and special needs planning.

Our Saint Charles Estate Planning Lawyers Have Experience in:

Your Community Law Firm

Why O'Flaherty Law for My

Estate Planning

Matter?

Saint Charles estate planning lawyer Kevin O'Flaherty explains the qualities to look for in your attorney.

We Are Affordable!  Estate plans are not one-size-fits-all and they do not have to be expensive.  We are proud of our flexible cost-effective packages that are targeted to your specific estate planning goals.

We Go Above-And-Beyond!  Our Saint Charles estate planning attorneys will take the time to educate you on the various things you can accomplish with an estate plan, and answer any questions you have along the way.  We are friendly and accessible.

We Know Our Stuff!   We have the skill and expertise to provide both cost-effective simple estate plans as well as more complex solutions depending on your goals.  We have experience in estate tax planning, special needs planning, medicaid planning and elder law, and asset protection.

We Are Comprehensive!  If you establish a relationship with our Saint Charles estate planning attorneys, you won't have to find a new lawyer next time a different legal issue comes up.  Our comprehensive team approach means that we have collective expertise to handle all of your legal needs.

Some of Our Accomplishments

Schedule a Free Consultation With Our

Saint Charles Estate Planning Attorneys

saint charles will and trust attorney

Please contact our friendly

Saint Charles Estate Planning Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Saint Charles

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

Saint charles will and trust lawyer

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 Saint Charles Estate Planning Attorneys

saint charles trust attorney

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
will lawyer Saint charles illinois

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

How to Use Revocable Living Trusts To Avoid Probate

Saint Charles estate planning lawyer

Saint Charles estate planning attorney Kevin O'Flaherty explains how to use revocable living trusts to avoid probate.

Saint Charles estate planning lawyer

In this article, our Saint Charles estate planning lawyers explain how to avoid probate. Probate is a court case that is generally required to distribute your assets when a resident of Illinois passes away owning any real estate or more than $100,000.00 of non-real estate assets outside of a trust.  Probate can be expensive to the estate and stressful to the family.  It also tends to delay your family's receipt of your assets. Our Saint Charles estate planning lawyers use revocable living trusts to ensure that our clients' estates do not go through probate when they pass.

Read the full article by our Saint Charles estate planning lawyers explaining how to use trusts to avoid probate.

Why Should I Have a Power of Attorney?

In this article, our Saint Charles estate planning lawyers explain why it is important to have powers of attorney as part of your estate plan. Financial powers of attorney name a trusted loved one to make financial decisions for you if you become mentally incompetent. Healthcare powers of attorney name an agent to make healthcare decisions for you if you are unable to do so. If you have both a healthcare and financial power of attorney, a costly and time-consuming guardianship proceeding will not be necessary if you become mentally incompetent through old age, disease, or accident.

Read the full article by our Saint Charles estate planning attorneys explaining powers of attorney.

Saint Charles Estate planning lawyer Kevin O'Flaherty explains why it is important to have healthcare and financial powers of attorney as part of your estate plan.

Estate Planning Lawyer in Saint Charles Illinois

In this article, our Saint Charles estate planning lawyers explain why it is important to have powers of attorney as part of your estate plan. Financial powers of attorney name a trusted loved one to make financial decisions for you if you become mentally incompetent. Healthcare powers of attorney name an agent to make healthcare decisions for you if you are unable to do so. If you have both a healthcare and financial power of attorney, a costly and time-consuming guardianship proceeding will not be necessary if you become mentally incompetent through old age, disease, or accident.

Read the full article by our Saint Charles estate planning attorneys explaining powers of attorney.

Reasons to Have an Estate Plan if You Have Minor Children

Saint Charles estate planning attorney Kevin O'Flaherty explains why it is important to have an estate plan if you have minor children.

Saint Charles estate planning lawyer
Estae Planning Attorney in Saint Charles IL

In this article, our Saint Charles estate planning attorneys explain the importance of estate planning if you have minor children. Some of the goals that you can accomplish with your estate plan include:

  • Naming a guardian for your children if you should pass;
  • Ensuring that your children's caretakers have access to your assets when you pass; and
  • Ensuring that your assets are not consumed by probate and estate taxes.

Read the full article by our Saint Charles estate planning attorneys explaining estate planning for minor children.

Further Reading from our

Saint Charles Estate Planning Attorneys