Naperville Will Lawyers | Trust Attorneys, Naperville IL

In this article, our Naperville trust attorneys discuss using a
trust to ensure that your estate avoids probate when you pass.

Probate can be
avoided by executing a revocable living trust and transferring your real estate
and savings accounts into it during your lifetime. Other steps to avoid probate
include: 

1. Deed any real estate owned by the client into the trust
2. Transfer any savings accounts that are not qualified retirement
   accounts into the trust
   
3. Ensure that proper beneficiaries and successor beneficiaries are
   named on qualified retirement accounts and life insurance policies
   

In Illinois, if you own $100,000 of non-real estate assets and
real estate outside of a trust, probate is mandatory. Probate court can end up
costing you 5% to 10% of the estate in attorneys fees and court costs. Not only
is it costly, but it is time-consuming. Probate cases can take up to a year or
more to complete before distributing your inheritance. 

Using a revocable living trust will allow easy passage of assets
to your loved ones when you pass. This document is made to avoid the stressful,
lengthy, and costly process of probate. 

​Read the full article by our Naperville will and trust lawyers explaining why revocable living trusts are crucial in avoiding probate in Naperville. 

Our Naperville trust attorneys use the following article to explain how revocable living trusts can help you and your loved ones avoid probate after your passing. We hope that this article not only teaches you the basics of a revocable living trust, but helps you understand why it's in you and your loved one's best interest, financially and logistically, to pursue this type of trust.

Read the full article by our Naperville will and trust attorneys explaining revocable living trusts.​

In this article, our Naperville trust attorneys explain how we use trusts to help our clients minimize estate tax.

In general, AB trusts allow married couples to use each other's estate tax exemptions, while Irrevocable Life Insurance Trusts to remove the death benefit of your life insurance policies from your taxable estate. Meanwhile, grantor retained annuity trusts, granted retained income trusts, and
grantor retained trusts allow assets to accumulate in value without the
value being included in the taxable estate.

Read the full article by our Naperville trust attorneys about how to use trusts to reduce and minimize estate tax.