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Top Chicago, IL Trusts Lawyers Near You

Trusts Lawyers | Chicago Office

875 N Michigan Ave, 31st Floor, Chicago, IL 60611

Trusts Lawyers | Chicago Office

161 N. Clark Street, Suite 1600, Chicago, IL 60601

Trusts Lawyers | Chicago Office

71 South Wacker Drive, 45th Floor, Chicago, IL 60606

Trusts Lawyers | Chicago Office

55 West Monroe Street, Suite 3800, Chicago, IL 60603

Trusts Lawyers | Chicago Office

222 W Adams St, Suite 2250, Chicago, IL 60606

Trusts Lawyers | Chicago Office

320 S Canal St, Suite 3300, Chicago, IL 60606

Trusts Lawyers | Chicago Office

33 N Dearborn St, Suite 1140, Chicago, IL 60602

Trusts Lawyers | Chicago Office

203 North LaSalle Street, Suite 2100, Chicago, IL 60601

Trusts Lawyers | Chicago Office

190 South LaSalle Street, Suite 3700, Chicago, IL 60603

Trusts Lawyers | Chicago Office

200 S Wacker Dr, Suite 600, Chicago, IL 60606

Trusts Lawyers | Wheaton Office | Serving Chicago, IL

1776 South Naperville Road, Suite 104A, Wheaton, IL 60189

Trusts Lawyers | Lisle Office | Serving Chicago, IL

1001 Warrenville Road, Suite 500, Lisle, IL 60532

Trusts Lawyers | Chicago Office

303 West Madison Street, Suite 300, Chicago, IL 60606

Trusts Lawyers | Chicago Office

55 West Monroe Street, Suite 1200, Chicago, IL 60603

Trusts Lawyers | Chicago Office

130 E Randolph St, Suite 3900, Chicago, IL 60601

Trusts Lawyers | Chicago Office

211 W. Wacker Dr, 5th Floor, Chicago, IL 60606

Trusts Lawyers | Chicago Office

155 North Wacker Drive, Suite 3100, Chicago, IL 60606

Trusts Lawyers | Chicago Office

200 South Michigan Avenue, Suite 1100, Chicago, IL 60604

Trusts Lawyers | Hinsdale Office | Serving Chicago, IL

15 Salt Creek Lane, Suite 122, Hinsdale, IL 60521

Chicago Trusts Information

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Lead Counsel independently verifies Trusts attorneys in Chicago and checks their standing with Illinois bar associations.

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  • Ample Experience Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.
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Find a Trusts Attorney near Chicago

Visit our free Trusts Resource Center.

What Is a Trust?

A trust is an estate planning tool that allows you to determine which beneficiaries will get your property and assets when you pass away. A valid trust can allow you to avoid probate, which can be costly and slow, so your beneficiaries can receive your real estate, accounts, and personal property more quickly. A trust can also allow you to use and access your property while you are living while still providing for your loved ones after you die. An estate planning attorney can give you more information about trusts and estate planning.

What Are Different Types of Trusts?

There are different kinds of trusts that can be used to accomplish your estate planning goals. Common types of trusts include:

  • Living trusts
  • Irrevocable trusts
  • Charitable trusts
  • Special needs trusts

The most common type of trust is a living trust, also known as a revocable trust. A revocable trust provides more flexibility for the person who created the trust to use the property and modify the trust at any time. An irrevocable trust is much more restrictive and cannot be canceled. However, an irrevocable trust can reduce estate taxes and may allow the property to be protected from creditors. Talk to Illinois estate planning lawyers for legal advice about what type of trust is best to give you peace of mind.

How Do I Establish a Trust?

The person who creates the trust is known as the settlor. The settlor names a beneficiary or beneficiaries who will receive the assets under the terms of the trust, usually upon the death of the settlor. The settlor also designates a trustee to manage the assets of the trust for the benefit of the beneficiaries. There may be other requirements for a trust in your state, so contact an Illinois trust lawyer or elder law firm about your legal matters.

How Can I Change a Trust?

A revocable will can be changed anytime during the lifetime of the settlor. You may want to review your trust every few years or anytime there is a significant life change. When there is a major life change, like a marriage, divorce, or death of a loved one, you may want to update your trust to make sure your wishes are still reflected in your estate plans.

How Much Does It Cost to Make a Trust in a Chicago?

The cost of a trust will depend on several factors, including the number of assets and properties, trust administration, and the terms of the trust. An average trust can cost about $2,000 to $5,000 or more. However, a trust can save you money by avoiding the costs, delays, and court process of going through probate. A trust can also include special provisions for your loved ones so they can have long-term protection and financial support. To get an estimate for how much it will cost to prepare a trust for your situation, contact a Chicago trust attorney for a quote.

What sort of issues can I seek legal help with?

Specialized legal help is available for most legal issues. Each case is unique; seeking legal help is a smart first step toward understanding your legal situation and seeking the best path toward resolution for your case. An experienced lawyer understands the local laws surrounding your case and what your best legal options might be. More importantly, there are certain situations and circumstances – such as being charged with a crime – where you should always seek experienced legal help.

How to Prepare for Your Initial Consultation

Prepare for your consultation by writing down notes of your understanding of the case, jot down questions and concerns for the attorney, and gather your documents. Remember that you are trying to get a sense of whether the attorney has your trust and can help you address your legal issues. Questions should include how the attorney intends to resolve your issue, how many years he/she has been practicing law and specifically practicing in your area, as well as how many cases similar to yours the attorney has handled. It can also be helpful to broach the subject of fees so that you understand the likely cost and structure of your representation by a specific attorney and/or legal team.

Does firm size matter?

For most consumer legal issues, the size of the practice is much less important than the experience, competence, and reputation of the attorney(s) handling your case. Among the most important factors when choosing an attorney are your comfort level with the attorney or practice and the attorney’s track record in bringing about quick, successful resolutions to cases similar to yours.

Common legal terms explained

Personal jurisdiction – Requirement that a particular court have authority over a person, in order to bind that person to the judgment of the court, based on minimum contacts. International Shoe Co v. Washington is a landmark Supreme Court case outlining the scope of a state court’s reach in personal jurisdiction.

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