303 W. Main Street, West Dundee, IL 60118
 | 847-428-7725
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100 Illinois Street, Suite 200, St. Charles, IL 60174
 | 630-200-4882
By Appointment Only
West Dundee, IL847-428-7725
St. Charles, IL630-200-4882
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Kane County Living Trusts Lawyers

Geneva Living Trust Lawyers

Attorneys Assist Clients with Revocable and Irrevocable Trusts in St. Charles and Campton Hills

Trusts are important tools that are commonly used by individuals with more complex life circumstances. Trusts give individuals greater control over how their assets are distributed when they pass on, and they can be used to accomplish several other objectives as well. Irrevocable and revocable living trusts are complicated estate planning instruments which require specific wording to ensure that they are set up correctly. For this reason, it is important to consult with an experienced estate planning lawyer to guide you through this process.

The Law Offices of Benedict Schwarz, II P.C. has approximately 50 years of combined experience helping clients with revocable and irrevocable living trusts and other estate planning solutions in Kane County and the surrounding areas. Our attorneys have helped thousands of clients with estate planning, divorce, and other family law matters. We put our in-depth experience to work to create comprehensive strategies that fully address our clients' needs and accomplish their goals.

Types of Trusts

Trusts are separate legal entities set up by a grantor/creator to manage his/her assets. The grantor places various assets inside the trust, and they are managed by a trustee. The grantor can also designate one or more beneficiaries to receive the property within the trust under certain conditions. There are two basic types of trusts:

  • Revocable Trusts: A revocable trust, also known as a living trust, is one that can be changed, altered, modified, or revoked during the lifetime of the grantor. With a revocable living trust, the grantor, trustee, and beneficiary can initially be the same person, and the grantor has the flexibility to alter its terms and conditions or revoke the trust at any time. Revocable living trusts are often used to transfer assets to beneficiaries upon the grantor's death without having to go through probate.
  • Irrevocable Trusts: An irrevocable trust is one that cannot be easily altered, modified, or revoked after it has been created. Though the grantor gives up the flexibility provided by a revocable trust, irrevocable trusts offer some advantages. With this type of trust, the grantor is no longer considered the owner of the property within once it is set up. This shields the property from creditors while the grantor is alive. Upon death, the property can be passed on to beneficiaries with minimal estate tax liability.

If you experience a major life change such as a divorce, your trusts may need to be revised or revoked to ensure that the appropriate trustee and beneficiary designations are in place. Our attorneys can consult with you to determine your options and most effective legal strategy based on the type of trust(s) you have.

Speak With a Seasoned Geneva Living Trust Attorney

Setting up and altering trusts requires careful thought and consideration. At the Law Offices of Benedict Schwarz, II P.C., we have in-depth knowledge of the complexities of irrevocable and revocable trusts, and we can help ensure that the trusts you create are worded carefully and designed to accomplish your estate planning objectives.

For a free, no-obligation consultation with one of our experienced attorneys, contact our office today at 847-428-7725 or 630-200-4882. We serve clients in Kane County, McHenry County, DuPage County, Cook County/Rolling Meadows, Algonquin, Barrington, Barrington Hills, Batavia, Bull Valley, Burlington, Campton Hills, Carpentersville, Cary, Crystal Lake, Dundee, East Dundee, Elgin, Geneva, Lake in the Hills, Pingree Grove, St. Charles, South Elgin, West Chicago, West Dundee, Woodstock, and the surrounding Illinois communities.

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