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Algonquin, Illinois

Trust Attorneys

Planning for the future can be challenging, but failing to create a plan for your finances, belongings, and family while you’re alive means leaving the decision of asset distribution to an Illinois judge.

Contrary to popular belief, a will alone is not the optimal solution. Wills go through probate court, which is costly and time-consuming. Furthermore, your estate becomes public, accessible to your heirs and family, who can make claims to it.

At Diamond Estate Planning, our skilled Algonquin, Illinois attorneys can assist you in avoiding these difficulties and safeguarding your family and estate through the use of a trust.

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What is a Trust?

A trust is an agreement in which someone (the trustor) designates another person to hold property on behalf of someone else, according to the terms set by the trustor.

This property and assets can encompass various items such as money, cars, furniture, real estate, stocks, retirement accounts, and ownership interests in businesses.

Placing your property in a trust allows your family to bypass the expensive and public probate process, while ensuring that the person you choose manages your assets according to your wishes.

Trusts also provide the following benefits to your family, helping them avoid legal complications such as:

Taking Control with an Algonquin, Illinois Trust

A trust grants you complete control over your estate and its fate after you pass away.

You have the flexibility to appoint any trustworthy individual as your trustee, and you can even choose to be the trustee during your lifetime while designating another trustee for after your passing.

The trustee distributes your estate to your beneficiaries, the individuals who receive the properties outlined in your trust. Additionally, you can name yourself as the beneficiary until your demise, after which your children can become the beneficiaries.

By naming your trustee and beneficiaries, you determine who manages your property and when. With a trust, you retain control, instead of leaving it to the Illinois courts.

The Importance of a Well-Designed Trust in Algonquin Illinois

With careful thought and consideration, a trust is an ideal way to ensure your children are well taken care of according to your wishes if anything happens to you.

During the grieving process, the last thing your family needs is a complicated, confusing, and expensive court ordeal.

Establish a trust today, allowing your loved ones to focus on celebrating your memory and legacy when the time comes.

Contact an Algonquin Estate Planning Lawyer Today

Diamond Estate Planning in Algonquin, Illinois is ready to assist your family, regardless of your circumstances. With years of experience helping Illinois families plan their legacies, we are here for you when you are ready to start planning yours. Schedule your first legacy protection session today.

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