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Oflaherty Law, Illinois Attorneys

Estate Planning Explained E-Book

​Check Out Our E-Book:
​Estate Planning Explained - Wills & Trusts, Elder Law, Estate Tax, Probate And Special Needs Planning

Download Kindle Version for $2.99

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Illinois attorney Kevin O'Flaherty explains everything you need to know about estate planning so that you can learn how to save your family thousands in probate expenses, guardianship proceedings and estate tax. The purpose of this book is to make you an educated consumer so that you can identify what your estate planning goals should be and the appropriate tools you can use to accomplish them. We answer questions like:

  • What is estate planning?
  • What is the difference between a will and a revocable living trust?
  • Which documents are included in a typical estate plan?
  • What are the 8 Goals of a good estate planning?
  • How can you use an estate plan to appoint fiduciaries such as executors, trustees, and agents for financial and healthcare powers of attorney so that you have the right person managing your affairs if you should pass or become mentally incompetent?
  • How can you use trusts and wills to provide for the distribution of your assets?
  • What are some common and special considerations when providing for the distribution of your assets?
  • What is probate, why is it bad, and how can you use an estate plan to prevent it and save your family tens of thousands of dollars?
  • What happens if you become mentally incompetent through old age, illness or accident, and how can healthcare powers of attorneys be used to avoid a costly and time-consuming guardianship proceeding if that should happen?
  • What is estate tax, does it apply to you, and how can you use estate planning to minimize or avoid it?
  • If you have a loved one with special needs, how can you use supplemental needs trusts to allow your loved one to earn an income and accumulate wealth without jeopardizing his or her government benefits?
  • How can you use Family Limited Partnerships and Irrevocable Trusts to protect your family's assets from creditors?
  • How to use estate planning to keep your key assets in your family while still taking advantage of Medicaid benefits for long-term care. 
  • How to transfer your assets to your revocable living trust and save on legal fees
  • Should your trust be the beneficiary of your life insurance policy?
  • What is the Medicaid 5 year look back period, what types of transfers are allowable 5 years prior to receiving Medicaid assistance for long-term care, and how can you protect the assets of a healthy spouse when applying for Medicaid?
  • When is probate necessary, and what happens in the probate process?
  • What is the difference between supervised administration and independent administration in probate?
  • What happens when minors inherit property?
  • How to avoid liability when administering a trust?
  • What is the adult guardianship process?
  • How can you use pet trusts to provide for your pets when you pass away?

A note from Kevin O'Flaherty:Before I began practicing law in 2007, my understanding of estate planning was basically that you should have a will to provide for the distribution of your assets to loved ones when you pass. While this is true, there is much more to estate planning than simply putting a will in place. Having a good estate plan is every bit as important as having a financial plan or a family budget. A good estate plan can save your family thousands of dollars in probate expenses, attorney fees for guardianship proceedings if you become mentally incompetent, and estate tax. Most people have the same understanding of estate planning as I did before I started practicing. Unless you have spoken with an attorney or a financial advisor, there is typically very little occasion to educate yourself on the topic. The purpose of this book is to allow you to be an informed consumer so that when you meet with an estate planning attorney, you can be your own advocate and will have a fundamental understanding of the goals you are trying to accomplish for your loved ones and the tools that you can use to achieve those goals. Estate planning is not only for the wealthy.

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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.

What to Expect from a Legal Consultation

O'Flaherty Law

1515 Legacy Circle Ste.1A
Naperville, IL 60563
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We offer free and paid consultations in nearly every area of law at our locations in:

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

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.

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney

Downers Grove

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

Naperville Attorney, Naperville Attorneys

Naperville

1515 Legacy Circle, Ste. 1 Naperville, IL 60563

Elmhurst Lawyer, Elmhurst Lawyers

Elmhurst

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

Lake in the Hills Attorneys, Lake in the Hills Attorney

Lake in the Hills

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

Tinley Park Attorney, Tinley Park Attorneys

Tinley Park

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

Chicago Attorney, Chicago Attorneys

Chicago

1941 N. Elston, Ste. A Chicago, Illinois 60642

Wheaton Attorneys, Wheaton Lawyers

Wheaton

1275 E. Butterfield Rd, Ste 109A Wheaton, IL 60189

St. Charles Attorneys, St. Charles Lawyers

St. Charles

1121 E. Mainstreet Ste 124B St. Charles, IL 60174

Davenport lawyer, davenport lawyers

Davenport

201 W 2nd St Ste 400A, Davenport, IA 52801

Peoria lawyer, Peoria lawyers

Peoria

4600 N. Brandywine Dr. Ste 200A, Peoria, IL 61614

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 Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with..."

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..."
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..."
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.

Some of Our Accomplishments

Best Child Support Lawyers in Chicago
DuPage County Probate Attorney
Kevin P. O'Flaherty
Rated by Super Lawyers


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