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Tinley Park Estate Planning Attorneys | Estate Planning Lawyer, Tinley Park IL

Tinley Park Estate Planning Attorneys | Estate Planning Lawyer, Tinley Park IL

Our experienced Tinley Park estate planning attorneys guide you through the creation and implementation of your affordable will or trust, along with your powers of attorney and healthcare directives. At O'Flaherty Law, we work with trusted accountants and advisers to develop an overarching plan to accomplish your family’s financial goals. We will assist you in ensuring that your assets will be distributed according to your wishes, that a guardian named for your children, and that your estate avoids estate taxes and costly attorney fees and court costs from probate.

Our experienced Tinley Park estate planning attorneys guide you through the creation and implementation of your affordable will or trust, along with your powers of attorney and healthcare directives. At O'Flaherty Law, we work with trusted accountants and advisers to develop an overarching plan to accomplish your family’s financial goals. We will assist you in ensuring that your assets will be distributed according to your wishes, that a guardian named for your children, and that your estate avoids estate taxes and costly attorney fees and court costs from probate.

Our Tinley Park Estate Planning Lawyers Can Assist You With All Of Your Estate Planning Needs:

Your Community Law Firm

Why O'Flaherty Law for My

Estate Planning

Matter?

In this video, Tinley Park Estate Planning attorney Kevin O'Flaherty describes why O'Flaherty Law is the best choice for your estate planning matter.

  • We Go Above-And-Beyond! We are proud of our excellent client service. Positive testiminoials from happy clients has helped us achieve Avvo's Client's Choice Award for Estate Planning.  
  • We Are Affordable! We pride ourselves on being affordable. We would love to hear if you find more cost-effective rates to accomplish your estate planning needs.
  • We Know Our Stuff!  Our Tinley Park estate planning attorneys have the skill and experience to provide you with state of the art estate planning options. We help with advanced and complex estate plans such as estate tax avoidancecreditor avoidancespecial needs planning, and medicaid planning.
  • We are Comprehensive!  We strive to be a source in our community to ensure the resolution of a wide variety of legal matters. We accomplish this by retaining skillful attorneys who specialize in different areas law. This comprehensive approach ensures your representation isn't disrupted if your case intersects with different areas of law.  We will be your life-long adviser and work through any legal issues that may arise along the way. 

Some of Our Accomplishments

Schedule a Free Consultation With Our

Tinley Park Estate Planning Attorneys

tinley park will and trust attorney

Please contact our friendly

Tinley Park Estate Planning Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Tinley Park

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

tinley park 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 out Tinley Park Estate Planning Attorneys

tinley park trust lawyer

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 attorney tinley park 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

What Can I Accomplish With a Good Estate Plan?

tinley park estate planning lawyer

Tinley Park estate planning attorney Kevin O'Flaherty explains some of the key goals that our clients can accomplish with a good estate plan.

tinley park estate planning lawyer

In this article, our Tinley Park estate planning attorneys outline some of the most common goals that we can help our clients accomplish through estate planning.

We discuss the four general goals, from which most people can benefit, including:

1.  Appointment of Fiduciaries and Distribution of Assets When You Pass;

2.  Avoiding probate when you pass;

3.  Guardianship avoidance upon mental incompetence;

4.  End of Life Decision-Making;​

Our Tinley Park estate planning lawyers also explain some more specific goals that can be accomplished based on the client's special circumstances, including:

5.  Estate Tax Planning;

6.  Special Needs Planning;

7.  Creditor Protection; and

8.  Medicaid Planning.

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

Estate Planning Goal: Appointment of Fiduciaries & Distribution of Assets

In this article, our Tinley Park estate planning attorneys explain the appointment of fiduciaries in your estate planning.  Fiduciaries are individuals who will be responsible for managing the assets of your estate when you pass, such as a trustee if you have a trust or an executor if you have a will. Other fiduciaries include the guardian that you appoint for minor children in your will; and agents appointed in your healthcare power of attorney and financial power of attorney, who will make major decisions for you if you become mentally incompetent through old age, illness, or accident.

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

Tinley Park estate planning attorney Kevin O'Flaherty discusses how to use an estate plan to appoint fiduciaries to manage your estate.

estate planning attorney tinley park illinois

In this article, our Tinley Park estate planning attorneys explain the appointment of fiduciaries in your estate planning.  Fiduciaries are individuals who will be responsible for managing the assets of your estate when you pass, such as a trustee if you have a trust or an executor if you have a will. Other fiduciaries include the guardian that you appoint for minor children in your will; and agents appointed in your healthcare power of attorney and financial power of attorney, who will make major decisions for you if you become mentally incompetent through old age, illness, or accident.

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

Using Revocable Living Trusts to Ensure that Your Estate Avoids Probate

Tinley Park estate planning attorney Kevin O'Flaherty discusses what probate is, why it is undesirable, and how we use trusts to avoid it.

tinley park estate planning lawyer
estate planning lawyer tinley park il

In this article, our Tinley Park estate planning attorneys explain how we use Revocable Living Trusts to ensure that our clients' estates avoid probate.  Most people who own their home or more than $100,000.00 in other assets will trigger a probate estate when they pass away, unless they have a proper estate plan. Probate is a year long court case, in which the judge oversees the distribution of assets in your estate. We want to avoid probate, because it can suck up a significant amount of the value of your estate in attorney fees and court costs, because your loved ones will not have access to your assets during the pendancy of the case, and because it can add significant stress to an already stressful situation. We explain the use of Revocable Living Trusts to ensure that, when you pass, your loved ones will have immediate access to your assets without the need to hire an attorney.

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

Further Reading from our

Tinley Park Estate Planning Attorneys