Probate and Estates. Probate is only the first (and in Illinois, relatively simple) step of the legal process that takes place after someone dies. When we represent an executor or trustee, whether it be a surviving spouse, a relative, a close friend, or a financial institution, we help them to:
· Probate the Will.
· Take control of the decedent's assets and administer those assets.
· File the appropriate federal and state level estate tax returns (if necessary).
· Document and assist in distributing assets as provided for in the Will (or revocable living trust), whether it be to individuals, charities, or trusts, such as a Bypass Trust, Marital Trust, or Descendant's Trust.
Trusts. We represent individual and professional trustees and help them understand their duties and obligations in administering the trust. These duties and obligations include:
· Proper record-keeping.
· Communication with beneficiaries.
· Advice regarding necessary income and estate tax reporting.
Beneficiaries. We are often retained by estate and trust beneficiaries to advise them regarding their legal rights and what it means to be a beneficiary. If need be, we assist beneficiaries to help them protect their interests.
We have extensive experience advising individual and professional executors, trustees and beneficiaries with contested estates, actions to construe and/or reform estate planning documents containing improper or ambiguous terminology, and modifying estate planning documents to respond to changes in the law.
The Michael Law Group, P.C.
200 West Madison Street, Suite 2100, Chicago, Illinois 60606 • 560 Frontage Road, Suite 300, Northfield, Illinois 60093*
Copyright © 2020 The Michael Law Group, P.C. - All Rights Reserved.
*By appointment Only