Estate Planning Attorney In Illinois

Upon your death, what will happen to all of your hard-earned money? Our estate planning attorneys can help you determine the best way to transfer your assets before and after death to ensure that the people you want to get your money receive as much as possible in the exact manner you desire. We are led by a master estate planning lawyer, Thomas Mirabile. Our will and trust attorneys help you make judicious decisions and avoid any complications or lapses moving forward.

At Mirable Law Firm, we take your future seriously. Our team works closely with each client to understand their unique situation and determine the most appropriate way to distribute their assets. This process can be somewhat challenging for people. We provide the support and guidance you need to navigate the process efficiently and seamlessly without worrying about things going wrong.

Once you partner with us, you can rest assured that you’re trusting the right company. We start by conducting a comprehensive inventory of your assets. Based on the data, we create an individualized plan that helps you heave a sigh of relief. Ready to work with our probate attorneys? We serve clients across Illinois, including Naperville, West Chicago, Addison, Lombard, Elk Grove Village, and Woodridge. Give us a call when you’re ready. It’s time to get your future back on track.

What is Estate Planning?

Estate planning is the process of anticipating and arranging, while a person is still living, for the distribution of their estate assets in a manor of their choosing. If a person fails to plan for the disposal of their estate, the state will implement their plan and it likely will not be a plan that you like. Proper estate planning can be used to eliminate uncertainties over the administration of a probate and to maximize the value of the estate by reducing taxes and other expenses.

Estate Planning Basics

Every estate plan should include a will. If the value of the estate is small, then a simple will may suffice to transfer your assets. If the value of the estate is larger and real estate is involved, it is probably better to have your assets held in trust and have a pour-over will as a back-up. This can accomplish many different goals, such as avoiding probate, lowering estate taxes, and directing the distribution of your property upon your death. If you die with assets outside of the trust, the pour-over will directs the assets to pour into the trust and be distributed in accordance with the trust’s directions.

Estate Planning in Illinois

In an Illinois estate, if all the personal estate passed by the will has a gross value of less than $100,000, then a small estate affidavit can be used to transfer that property—but not real property—outside of probate. In an Indiana estate, this same procedure can transfer both personal property and real property outside of probate, if the net value of the entire probate estate is less than $50,000.