Estate Planning Attorney Wheaton
Put Important Estate Planning Decisions in Writing
Create an estate plan that reflects your wishes, addresses your family’s needs, and explains how your assets should be handled
Estate planning involves decisions about property, finances, and who can act on your behalf. Tuohy Law Offices helps Wheaton residents understand how these pieces fit together and which legal documents may be appropriate for their needs.
Tuohy Law Offices
Does your estate plan account for all your assets?
Your estate plan should reflect what you own, who you want to provide for, and how you want your assets handled. A living trust can direct how you manage and distribute assets held in the trust, but retirement accounts, life insurance policies, and jointly owned property may pass under beneficiary designations or ownership arrangements instead.
Reviewing these details can help identify assets that may need to be transferred into the trust or coordinated with your broader estate plan. For example, outdated beneficiary designations may direct assets to someone you no longer intend to provide for.
Tuohy Law Offices helps Wheaton families review their assets, identify potential gaps, and determine how their living trust can work alongside other estate planning arrangements.
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Living trust vs will: What’s the difference?
A living trust and a will serve different purposes in an estate plan. A living trust can provide instructions for managing assets during your lifetime and distributing trust property after your death. A will generally directs how the property it covers should be distributed and can name a guardian for minor children.
One important distinction is probate. Assets properly held in a living trust can generally pass to beneficiaries without probate, while assets distributed under a will may need to go through probate.
How can a special needs trust help?
If you have a loved one with a disability, you may want to provide for their future without unintentionally affecting their eligibility for certain public benefits. A special needs trust can hold assets to support the beneficiary while helping preserve eligibility for certain benefits, depending on how the trust is structured and how distributions are handled.
The type of special needs trust depends partly on who funds it. For example, parents may use their own assets to create a trust to provide for a child with a disability. In other cases, a trust may be funded with the beneficiary’s money, such as an inheritance or a legal settlement. These distinctions matter because different rules may apply to public benefits and how the trust funds can be used.
Our firm helps families explore special needs trust options for loved ones with disabilities and understand which arrangements may be appropriate for their situation.
Estate planning services for Wheaton families
Tuohy Law Offices offers estate planning services to help Wheaton families prepare for different circumstances and plan for the future. Explore the services below to learn how each can address your needs and support your overall estate plan.
Living Trusts
A living trust can help you set instructions for how trust assets should be managed and who should receive them. Planning also involves deciding which assets to transfer into the trust and choosing a successor trustee to carry out your instructions when you no longer can.
Probate
When someone dies, their family may need to identify assets, address outstanding obligations, and follow the legal process for transferring property to heirs or beneficiaries. Tuohy Law Offices helps families understand the steps involved and the issues that may arise while settling an estate.
Power of Attorney
Unexpected illness or incapacity can leave important decisions unresolved if no one has the proper authority to act. A power of attorney lets you choose who may handle designated financial or healthcare matters if you cannot make those decisions yourself.
Wills
A will can address instructions that a living trust may not cover, including naming a guardian for minor children. It can also direct property not transferred through the trust or another arrangement.
Why Wheaton residents choose Tuohy Law Offices
Tuohy Law Offices brings decades of estate planning experience to help Wheaton families understand their options and plan for their individual needs. When you partner with us, you gain:
- Extensive experience preparing living trusts Tuohy Law Offices has prepared more than 8,000 living trust estate plans. The firm’s experience helps clients work through key planning decisions, from choosing a successor trustee to deciding which assets to hold in the trust.
- A track record of asset protection We’ve helped preserve more than $2.5 billion in assets for clients. While every family’s circumstances differ, thoughtful estate planning can help you manage and transfer assets to the next generation.
- Experience with families and business owners Our firm has represented hundreds of small businesses. That experience is relevant for business owners who need to consider how their business interests fit into their broader estate plans and what may happen to those interests in the future.
Making estate planning more accessible for those who serve
Planning for your family’s future is an important step, and the cost of legal services can be one factor in deciding when to begin. Tuohy Law Offices offers its Service to Those Who Serve program to help qualifying individuals in Wheaton, including first responders, teachers, and military personnel, access estate planning services at a reduced cost. Eligible participants may receive a one-third reduction in estate planning fees.
Client testimonials
Every family’s estate planning needs are different, but working with an attorney can offer valuable insight into what you can expect. Read how our Wheaton clients describe their experiences with the firm.
I am proud to state that Tom Tuohy has been my valued friend and legal counsel for more than 35 years. He has compassionately represented countless individuals and families throughout Illinois. I consider Tom Tuohy one of Illinois’ finest attorneys who can be relied on and trusted.
I have known of Tom Tuohy’s reputation for a long time through my responsibilities as Police Superintendent of the Chicago Police Department. When the time came to take care of my family business and my personal and business affairs, I knew exactly who I would retain.
Our experience with Tom Tuohy was five stars, from the moment that we walked into his office and meeting his staff and then talking to Tom it felt like we were with friends. My wife and I have been wanting to get our estate planning done for many years, and we were happy that we found Tuohy Law to have it completed finally. Thank You.
Frequently Asked Questions
Does my estate plan need to change if I move away from Wheaton?
Moving to another state can affect how your estate planning documents are interpreted and whether you should update them. If you relocate, have a lawyer review your living trust, will, and powers of attorney to determine whether they still comply with your new state’s laws.
Should I include my Wheaton home in a living trust?
Your home may be an important part of your estate plan. Transferring it to a living trust may help the property pass to your beneficiaries without probate, but the right approach depends on how you own the property, any existing mortgage or other restrictions, and your broader planning goals. Our attorneys can help you understand the implications before you change the property’s title.
What happens if my family disagrees about how an inheritance should be divided?
Disagreements can arise when family members have different expectations about an inheritance, the family home, or who should manage an estate. Clear instructions and appropriate arrangements for administering assets can reduce uncertainty, though they cannot guarantee disputes will not occur.
Can I leave my Wheaton home to one child while providing for my other children?
Some parents want one child to inherit the family home while dividing other assets among their children. A living trust can direct the distribution of different assets to different beneficiaries. The plan needs to account for the property’s value, how you’ll distribute other assets, and whether the arrangement reflects your intentions.
Put your estate plan in place with confidence
Estate planning is easier when someone answers your questions without making the process feel complicated. Tuohy Law Offices can explain your options, answer your questions, and help you determine where to begin.
Prefer to talk with someone directly? Call (312) 559-8400
