Trusts

Chicago Attorney Creating Trusts and Estate Plans

When thinking about your estate planning needs, one of the things you should ask yourself is whether you really need a trust to protect your estate. For many people, trusts are more difficult to use and are more costly to create than wills. Most people's needs may be best protected by creating a comprehensive will instead of a trust. To determine whether you need a trust, contact us to schedule a free initial consultation with an experienced attorney. At the Law Offices of David Blocher in Chicago, Illinois, we will create and fund trusts for people who actually need them.

With over 18 years of combined experience, our lawyers will help determine whether a trust is the right option for you and your family. Trusts are not usually necessary for people who have an estate valued at less than $2 million. People with an estate valued over this amount may want to consider creating a trust to avoid estate tax. Our firm will review your estate needs to determine which estate planning tool is right for you.

Here are some of the reasons why people create and fund a trust:

• Privacy – terms of a trust are private, whereas a will is public
• Spendthrift protection – protect a loved one against bad financial decisions while maintaining a steady source of income
• Asset protection and tax planning – ensure your property is protected and the estate tax that your family must pay is minimized

Some of the disadvantages of creating a trust include:

• Initial costs of creating and funding a trust
• § Possible loss of some control of your property
• § Another entity to manage

Do you think you may need to create a trust to protect your estate? Learn more about the advantages and disadvantages of a living trust, spendthrift trust, QTIP trust or a special needs trust by contacting the Law Offices of David Blocher. Schedule a free initial consultation with one of our experienced attorneys.