Estate Planning Attorney Hinsdale
Get Clear Guidance on What Your Estate Plan Needs
We’ll help you decide how your home, assets, and important affairs should be handled
Estate planning can involve more than deciding who receives your property. Tuohy Law Offices helps Hinsdale families understand their options and choose the legal documents that fit their circumstances.
Tuohy Law Offices
What should Hinsdale families consider when planning their estates?
Hinsdale families may have homes, financial accounts, business interests, and other assets accumulated over many years. Deciding how to handle those assets can become more complicated as family circumstances and finances change.
An estate plan lets you address those decisions while you can still make them yourself. It can also name the people you want to handle financial or health care matters if you become unable to do so.
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How can Hinsdale families bring different parts of an estate plan together?
For a Hinsdale family, an estate plan may need to account for a primary residence, investment accounts, business interests, and other assets acquired over the years. Planning for these assets together can help ensure they are managed and distributed according to the family’s wishes.
Our planning tools can address different parts of your estate and family needs.
Living Trusts
A living trust can provide a framework for managing qualifying assets during your lifetime and distributing them after your death. For families with several significant assets, coordinating those assets with the trust can be an important part of the planning process.
Wills
A will can address property not held in a living trust and name guardians for minor children. It can work alongside a living trust rather than replacing it.
Power of Attorney
A power of attorney can authorize someone to make specific financial and health care decisions on your behalf when you cannot communicate your wishes.
Probate
Probate may be required for property that is not held in a living trust or otherwise arranged to pass outside probate. Understanding how your assets will be handled can help you anticipate what your family may need to address later.
Estate planning may also call for a special needs trust when a family member with a disability needs financial support alongside government benefits.
How much does a living trust cost in Hinsdale?
The cost of creating a living trust varies with the complexity of your estate and your family’s planning needs. A straightforward estate with a few assets may require less work than one involving multiple properties, business interests, or more complex family circumstances.
The cost also depends on the work needed beyond preparing the trust itself. Your plan may require a will, powers of attorney, asset coordination, or other documents to address your circumstances properly.
Tuohy Law Offices can explain what goes into the cost of a living trust and what your estate plan may require.
When should you review your estate plan?
Creating an estate plan is an important step, but your circumstances can evolve over time. A plan that made sense several years ago may need updating if your family, assets, or goals change suddenly.
Consider reviewing your estate plan after:
- Buying or selling a home or other significant property
- Starting or selling a business
- Marriage, divorce, or remarriage
- The birth or adoption of a child
- The death or incapacity of someone named in your plan
- A significant change in your financial circumstances
Hinsdale families can have their existing estate plans reviewed by our lawyers to determine whether updates may be appropriate.
What our Hinsdale clients say
Estate planning can involve personal questions about your family, finances, and future. Hearing from people who have worked with Tuohy Law Offices can help you better understand what to expect from the process. See what clients have shared about their experiences with our 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.
Why families in Hinsdale choose Tuohy Law Offices
When choosing an estate planning attorney, you want to know that the firm has experience handling plans like yours and a track record of serving clients across different legal needs. Here are a few of our firm’s credentials and experience to consider.
- Over $2.5 billion in assets preserved We’ve helped our clients preserve more than $2.5 billion in assets through estate planning and related legal work. That experience helps us identify planning issues that can be easy to overlook when an estate involves substantial assets.
- More than 8,000 living trust estate plans prepared Tuohy Law Offices has prepared more than 8,000 living trust estate plans. That volume of work means we’ve successfully handled estate plans for families with different assets, family structures, and planning concerns.
- Experience representing small businesses Our firm has represented hundreds of small businesses whose personal and business interests may need to be considered together when planning for the future. That broader perspective can be useful when an estate plan involves ownership interests, succession concerns, or other business-related assets.
- Recognized by Martindale-Hubbell and Avvo Tom Tuohy holds a Martindale-Hubbell AV rating and maintains a top-rated Avvo profile. These recognitions reflect his standing and give prospective clients more insight into his practice.
Have you served your community? You may qualify for a discount
Qualifying first responders, teachers, military members, and others who serve their communities may receive a one-third reduction in estate planning fees through our Service to Those Who Serve program. The program gives back to people who dedicate their careers to serving others. Learn more about the Service to Those Who Serve program to see who may qualify and what the discount includes.
Frequently Asked Questions
Do I need a special needs trust for my child?
A special needs trust may be appropriate when a child with a disability may need financial support while also relying on certain government benefits. The right approach depends on your child’s circumstances, existing benefits, and long-term needs.
What happens to my business if I die or become unable to manage it?
If you own a business, your estate plan may need to address who can manage or inherit your ownership interest. Business succession planning can help address what happens to the business if you die or become unable to make decisions.
Does owning multiple properties affect my estate plan?
Multiple properties may create additional considerations for ownership, management, and how those properties should pass to your beneficiaries. Your estate plan should account for how your real estate fits with your other assets.
What happens if the people I named in my estate plan can no longer serve?
Your circumstances may change after you create an estate plan. If someone you named as a beneficiary, trustee, executor, or agent dies, becomes unable to serve, or is no longer the right choice, you may need to review and update your documents.
Know what your estate plan needs to address
Your home, financial assets, business interests, and family circumstances all play a role in your estate plan. Tuohy Law Offices can review your situation and help you determine what your plan should address.
Prefer to talk with someone directly? Call (312) 559-8400
