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Living Trusts


6 Estate Planning Myths

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Joint Tenancy and its Perils

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Estate Plan Valid if You Move?

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Firearm Transfers Following Death or Disability

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HealthCare Legal Document and School

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Estate Planning


What Is Estate Administration, and Why Should You Plan It?

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Illinois Living Trust: Secure Your Legacy with an Essential Guide

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Illinois Estate Planning: The Basics You Need to Know

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6 Estate Planning Myths

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Firearms Transfer Rules Update

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Business


Series LLC Benefits

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The Corporate Transparency Act

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Recent Developments in Laws and the New Tax Law

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Asset Protection


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Toolkit

Estate Planning Information

Estate Planning Information

Download
Asset Inventory Form

Asset Inventory Form

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Estate Planning Brochure

Estate Planning Brochure

Download
Understanding Trustees Role

Understanding Trustees Role

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Trustees Instructions

Trustees Instructions

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Family Loss Checklist

Family Loss Checklist

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MYLO Brochure

MYLO Brochure

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Critical Documents Protections

Critical Documents Protections

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Supplemental Needs Guide (English)

Supplemental Needs Guide (English)

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Supplemental Needs Guide (Spanish)

Supplemental Needs Guide (Spanish)

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News

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Pending Bipartisan Illinois Bill to Increase Estate Tax Exemption

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Firearms Transfer Rules Update

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What is a Living Trust ?

With a Living Trust, Probate’s cost, stress, and time are avoided and your estate is distributed quickly and privately according to your wishes.

Confused by the terms? Click here!

FAQ

What is the difference between and Will and a Living Trust?

A Will must be filed in Probate Court and state your wishes for the distribution of your estate at your death. If you do not have a Will, the court controls distribution.

A Living Trust is private and establishes complete control and protection of your estate now and after your death. Learn more

What is wrong with Probate?

Probate is costly, it takes a long time, and because of the number of cases in the system, it is inefficient and burdens families. 

Probate requires a minimum six-month claims period. The entire process can tie up your estate for an average of 18 months or more and cost thousands of dollars.  Learn more

Does a Living Trust avoid Probate?

Yes. A properly drafted, signed, and fully funded Living Trust avoids the Probate process. Learn more

What is the difference between a Will and a Living Trust?

A Will must be filed in Probate Court and state your wishes to distribute your estate at your death. If you do not have a Will, the court controls distribution.

A Living Trust is private and establishes complete control and protection of your estate now and after your death. Learn more

Why should Probate be avoided?

Probate is costly, takes a long time, and the number of cases in the system makes it inefficient and burdens families. 

Probate requires a minimum six-month claims period. The entire process can tie up your estate for an average of 18 months or more and cost thousands of dollars.  Learn more

Does a Living Trust avoid Probate?

Yes. A properly drafted, signed, and fully funded Living Trust avoids the Probate process. Learn more

How long will it take me to create my estate plan?

It generally takes less than 2-4 weeks to complete your estate. This depends on how soon you commit.  Our service is popular, and as soon as we receive the completed Estate Planning Information form in your Toolkit above) we will schedule an appointment for your document signing, and Mr. Tuohy will get to work on drafting your plan for your approval.

Can I set an appointment if I have questions?

Yes! You may email Tuohy Offices 24/7, 365 days at info@tuohylawoffices.com. You may use the chat on this website, and you can also call 312-559-8400 between the hours of 7:00 a.m. and 5:00 p.m. If you wish, you can schedule your consultation at this link https://calendly.com/tuohylaw

Remember, we will not have an attorney-client relationship unless you retain Tuohy Law Offices. 

Does my Living Trust include other legal documents?

Yes! Your Living Trust includes a Last Will and Testament, Health Care and Financial Power of Attorney documents, and Guardianship provisions if you have minor children.

Plus, you will receive all the documents you need to fund your living trust and assist your Successor Trustee. 

All at no additional cost to you! Learn more

Are there other advantages of a Living Trust?

Some of the many advantages of a Living Trust estate plan:

  • Avoids Probate
  • Protects you in the event of your disability
  • Organize lifetime management of your assets
  • Contains specific instructions for inheritance
  • Protects the wishes of the first spouse to die
  • It avoids the perils of joint tenancy
  • Protects against loss of benefits or government reimbursement if a beneficiary acquires a disability before your death.
  • Includes assets in all states and avoids multiple-state Probate
  • It contains a No-Contest clause
  • Provides creditor protection for beneficiaries
  • Is revocable
  • Amended easily

It is readily adapted to the laws of another state in the event you move.

What if I can’t afford a Living Trust right now?

You only have to pay a $500 retainer. The balance of your fees and costs is not due until your final signing, and you can budget your time based on when you can afford it.

Does my LLC or Corporation go into my Living Trust?

Yes, although your business entity continues to provide you with personal liability protection, we transfer your ownership certificates to your Living trust to avoid Probate in the event of your death of incapacitation.

Are you available for follow-up questions or changes to my estate plan?

Yes! Once we represent you, you are a valued client, and we stay in touch to provide you with updates to the law and news and remain available 24/7 for all your needs!