Our needs change throughout life, and a dedicated Wheaton trust & estates lawyer could help you prepare and meet those needs. An important part of developing the right estate plan for your situation involves taking the time to review your goals and devise a strategy suited for your unique situation. The practice of trust and estates law should not be about documents but about relationships.

If you are facing potential conflict or need assistance managing a trust, handling probate, or working through a business succession plan, a trust and estates lawyer in Wheaton could provide guidance and work to achieve your objectives. Although it is often possible to negotiate a resolution for certain estate related issues, if it becomes necessary to take a matter to court, your trust and estates lawyer could fight to protect your interests.

Understanding Estates & Trusts

There is a widespread perception that estates and trusts are only a matter of concern for the wealthy. The fact is that everyone has an estate, which is simply a legal term for the assets and liabilities people amass during their lifetime. Therefore, everyone should have an estate plan developed after consultation with a trust and estates lawyer in Wheaton. A plan may be quite simple and economical to prepare and administer.

Trusts may be used by people in all stages of life to accomplish goals such as reducing tax liability and protecting loved ones. A trust is an entity which holds property for the benefit of someone. The property is managed by a trustee, and the person who receives the benefit from the trust assets is the beneficiary. In popular living trusts, people transfer their assets into a revocable trust which they continue to manage, serving as their own trustees, and for which they continue to receive the benefits as the beneficiary. When they pass, the property is transferred to a successor beneficiary without the delays and expense of probate.

Help from a Trust & Estates Lawyer

An experienced trust and estates lawyer in Wheaton could assist with many different tasks such as:

  • Drafting or revising a will
  • Creating a power of attorney to allow someone to make decisions on healthcare or finances
  • Establishing trusts to reduce tax liability and provide for the needs of others
  • Guiding an estate through the probate process
  • Crafting advanced directives to guide medical decisions
  • Creating or managing a plan for business succession
  • Administering a trust

Before creating any documents, it is essential to assess needs and goals to be sure that a plan is right for the situation and helps prepare for possible contingencies. It is also wise to review plan documents periodically to determine whether changes in circumstances make it advisable to alter the plan.

Contact a Knowledgeable Wheaton Trust & Estates Attorney in Wheaton Today

Whether you are planning for unforeseen incidents in the future or dealing with an imminent need concerning estate or trust administration, the first step is to schedule a consultation with a dedicated trust & estates lawyer in Wheaton. An experienced legal counselor could thoroughly review your situation and may raise issues you had not considered.

An attorney could explain various options available and help you decide on the right plan of action to meet your needs. Then your legal advocate could create the necessary documents and take steps on your behalf to work toward your objectives. To learn more about the advantages of working with a knowledgeable trust and estates attorney, call now.