Estate Planning and Administration Chicago

With a concentration in estate planning, Tuohy Law Offices has prepared over 5,000 estate plans for its clients over the past four decades.

In keeping with its commitment to the legal education of the community, our firm has presented hundreds of seminars in the area of Trusts, estates, asset protection, and legacy preservation.

Estate Planning Begins Now

A sudden illness or death can change everything for a person and have an impact on their family for years. Loss is difficult enough without dealing with financial uncertainty and the court system.

That is why it is essential to secure a comprehensive estate plan immediately and before that sudden event occurs. 

To do so, you need advice and legal services that you understand and provide the protections and security you and your family deserve.

It Takes a Team

In the four decades we have protected families with custom estate plans, we have worked with our client’s financial consultants, CPAs, and financial institutions to ensure all assets are accounted for and properly titled. We then secure a plan that leaves a blueprint for your family to access and understand easily.

Most importantly, we are not just available to you now;

  • We are on call for your family and will communicate with your advisors today and into the future.
  • We maintain a complete record of your plan in a secure, encrypted digital folder.
  • Your plan includes instructions for your financial advisors, detailed instructions for your family in the event of your illness or death, and individual digital files of your legal documents for easy access and storage.
  • We provide access to an app that can store your health care, financial, and estate plan legal documents with a simple click and a password.

When we send your sensitive documents, we do so in Barracuda, which is a high-level security encryption

Estate Planning is a Relief

The word I often hear from clients after signing their estate plan is ‘relief.’ Every person knows they need an estate plan.  No one wants the government or the court system to control their hard-earned savings and legacy. 

Unfortunately, most people do not want to commit to making these decisions a priority. It is the sense of immortality when we are younger. And the fear of our mortality as we age prevents us from prioritizing this decision.

However, doing this essential work and getting on with living without this important decision hanging over your head is truly an incredible feeling of relief.

What Estate Plan is Best for You?

We help you decide on the best plan for you and your family. If your total wealth exceeds $100,000 and you own real estate, such as your home, a private Living Trust is often the most appropriate plan for privacy, control, and avoiding the probate court system.  If your wealth is less than $100,000, and you have minor children, you should consider a Will. Learn more.

  • Probate exists because no one can sign your name. It is designed to protect what you own if you become incapacitated or die. Learn more.
  • The average time for your family to complete the Probate process can be 18 months.
  • You remove assets such as real estate and financial accounts from your name and title them into a Living Trust.
  • Minors under 18 named beneficiaries on any policy or account are subject to Probate control until they reach 18.  You can name your Trust as beneficiary and delay distribution to any age you choose.
  • Special circumstances such as a beneficiary, disability, marriage, or financial situation require careful planning.

Learn more about Living Trusts.

Call Tuohy Law Offices at 1-312-559-8400 for a free, no-obligation consultation about your estate and to discuss the most appropriate estate plan for you.

Please click these links for detailed information regarding Power of Attorney, Living Trust, Last Will & Testament, and Probate.

 

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Best Estate Planning Attorneys in Chicago, 2024