The Chicago estate planning lawyers of Peck Ritchey, LLC are here to help you make sure that your desires are met and your wishes for your family are made clear when you have passed. Getting your estate plans in order will help ease complications in the future. Estate planning allows you to be in charge of who owns and receives your property.

For over a 100 years, our firm has been dedicated to serving the community with regards to probate, trusts, and estates. Our attorneys are make our firm to be the success it is. Kerry Peck, a partner of the firm, received the Justice John Paul Stevens Award which is the Chicago Bar Association’s highest honor. He also served as the president of the Chicago Bar Association in the past. Our firm has earned a great reputation for our lawyers expertise in the complicated legal domain of trusts and estates. Consistently, our attorneys have been named among Super Lawyers, Top 40 Under 40, and Leading Lawyers in Illinois.

Table Of Contents

    Our Estate Planning Services

    Peck Ritchey, LLC offers a broad scope of estate planning services, including assisting clients with:

    However, there is more to estate planning than the aforementioned services. We ensure that each client’s long-range plans are addressed with their unique needs in mind, whether those needs are simple or highly complex. Our careful attention to detail and broad legal experience make us one of Chicago’s premier estate planning firms.

    Do I Need More Than a Will?

     

    Having a will in place is an important step in ensuring your wishes are met and your assets are properly distributed following your passing. However, your estate plan may involve more than just preparing a will. There are other considerations that a will may not cover.

     

    For example, it’s important to consider vital health care decisions. If you are unable to make decisions regarding your own health care, who will you turn to? Health care power of attorney and living wills are legal documents that spell out who medical professionals can turn to for answers about your continued care. They communicate your health care wishes when you are unable to communicate them yourself.

     

    Beneficiary designations are also important components of an estate plan. Some possessions and assets can be passed on to heirs without being explicitly dictated in a will. If you have insurance plans, pensions, or other assets, it is important to make sure that the appropriate beneficiaries and contingency beneficiaries are specified.

     

    Other examples of estate planning may include a durable power of attorney, letter of intent, or a guardianship designation. How do you know which estate planning must-have you need to have? Contact the legal team at Peck Ritchey, LLC for answers. We can review your circumstances and help you craft an estate plan that addresses all your needs.

     

    Why You Need to Establish an Executor 

     

    It is generally in your best interest to name an executor to handle your will or trust. An executor is an individual who is in charge of managing the estate. Their responsibilities may include handling and finalizing the probate process, protecting the assets of the deceased and the estate, paying creditors, and distributing assets as outlined in a will or trust. If an individual fails to specify an executor, then one may be nominated. However, this can complicate things and sometimes lead to family tension or rifts.

     

    It is always better to name an executor that you trust – someone you can have a frank conversation with about your financial wishes, and someone you can count on to make sure that your wishes are upheld and your assets are distributed in the manner you intended.

     

    An executor can also be a beneficiary. In many cases, a parent may designate their child or spouse to be the executor of their estate. However, non-family members may also be chosen and named as an executor if an individual feels more comfortable with a neutral third-party handling the details of their final wishes.

     

    How do you know who to nominate as the executor of your estate? An experienced estate planning attorney can help you sort through your options. It can be beneficial to have an objective, outside opinion when it comes to picking your executor. An attorney can provide you with the legal support and advice you need to make the best decision for your circumstances.

    Why You Need a Lawyer

    Planning your estate is no easy task. While planning your estate on your own is doable, there are certain standards you must meet. And without the careful guidance of a lawyer, you may make mistakes. You may not even consider details, such as taxes, which are essential to planning an estate. This ultimately means your property might not be distributed the way you want. You may lose all control.

    Estates need to follow rigid state laws and statutes in order to be valid. This process can be daunting. Thinking about death and planning ahead for it can be emotionally exhausting. Let the attorneys at Peck Ritchey, LLC assist you in handling your assets properly. We can tailor an estate plan to your needs. Our trusting lawyers are ready to help you in any way you need.

    The estate planning attorneys at Peck Ritchey, LLC can advise you in all of your estate planning needs, whether you are just beginning to build your estate or want to protect the wealth that you have amassed over a lifetime.

    If you have minor children, estate planning can make sure that they are provided for, both personally and financially, upon your death or incapacity. Peck Ritchey’s attorneys are also experienced in same-sex estate planning.

    Frequently Asked Questions

    Trust, estate and tax laws are constantly changing. Peck Ritchey, LLC‘s attorneys counsel clients with up-to-date advice in order to properly plan their estates and protect the assets they build over a lifetime. We are here to help answer any questions you may have, and are just a phone call away at (855) 328-5787.

    Who gets my estate if I don’t have a plan?

    Without a valid estate plan, your property will be distributed according to the state probate laws. The Illinois statutes state that if you die and are survived by a spouse, then all of your property will go to them. If you are only survived by children, then your children will inherit all of your estate. However, if you are survived by both a spouse and children, then your spouse and children will each receive half of the estate.

    Though, if you are not survived by a spouse or children, then the future of your estate gets more complicated. First, your estate will be divided equally and go to your parents and siblings. If that is not a viable option, then it will be disbursed equally amongst the rest of your family such as your cousins, nephews, uncles, etc. And, although it is not common, if you are not survived by anyone, then your estate will go to the state of Illinois.

    What are the possible consequences of not having an estate plan?

    One good reason to have an estate plan is to lower the cost of the probate process. These unnecessary fees can be huge. There may not be any disputes, yet you may have to pay a lot. Not to mention that a court could take a small percentage of your estate’s value.

    Other consequences include the delay of your estate being implemented and a loss of your privacy. A simple probate can take longer than year. And during this time, anyone can access your private information from the court. This includes family members, organizations, and creditors; they will try to use your information to challenge the validity of your estate plan. With our attorneys, you don’t have to worry about the unneeded expenses, delays or loss of privacy.

    How much does estate planning cost?

    Estate planning depends on the size and value of your estate and the complexity of how you want it distributed. But, estate planning doesn’t have to be expensive. The lawyers at Peck Ritchey, LLC can help start your estate plan with what you can afford. We provide a free consultation to let you know how much it might cost you and find practical solutions with your financial capabilities. Don’t plan your estate alone in order to save money. experienced lawyers can provide you peace of mind while we prepare your documents properly.

    Contact Us

    Trust, estate and tax laws are constantly changing. Peck Ritchey, LLC attorneys counsel clients with up-to-date advice in order to properly plan their estates and protect the assets they build over a lifetime. Peck Ritchey, LLC has proven experience in effectively and legally reducing exposure to gift, estate, and inheritance taxes. We provide advice on estate planning techniques that can be used not only upon death, but during your lifetime to enable wealth to pass to your intended beneficiaries in the most tax-efficient manner possible.

    The Chicago estate planning lawyers at Peck Ritchey, LLC are ready to protect your property. Now is the best time for you to plan your estate. Unfortunately, we can’t plan our death. However, you can take control of your assets and minimize complications in the future. Plus, knowing you have a plan created then you will know your family will be protected the way you want. Don’t wait. Beginning your estate planning today by contacting an attorney at Peck Ritchey, LLC at (855) 328-5787 for a free consultation.

    Peck Ritchey’s attorneys are also experienced in same-sex estate planning.


    Testimonials

    Attorney Kyle Fahey handled our matter with skill and professionalism, and was always responsive. 10/10, would work with him and the firm again.

    –Jon T.

    The peace of mind that Peck Ricthey’s office has given me is worth every penny. The services they provided me and my family in an emergency medical situation is beyond outstanding. Last minute notice, Peter Brady and team were compassionate, understanding and most importantly efficient and got the job done. Look no further if you have any needs that this office can provide for you. Definitely in good hands! Thank you, a thousand times over for all of your help.

    –Christine K.

    Very responsive and knowledgeable at handling our brother’s estate. Would definitely recommend!

    –Ralph C.

    I solicited Peck Ritchey, LLC for assistance with a living trust for which I became the beneficiary. I needed assistance with understanding the details of how it all worked. However, I was especially concerned because there were threats of allegations made by family members and a lawsuit was filed against me. I needed a solid professional who had my best interests in mind. Peter Brady took my case and he managed it flawlessly. He explained everything in a way I could understand, he knew the law inside and out, he was always available to answer questions, and even offer support when things seemed like they could become extremely problematic. In addition to this, he had a plan. He navigated the course as if he already knew the next move by the opposing attorney. He made me feel like everything was in control and that’s because he knew exactly what he was doing and he consulted with me about everything. We ended up settling out of court and ultimately the court officially dismissed the lawsuit. I honestly believe if it wasn’t for Peter and his expertise this could have gone in an entirely different direction. Peter did a stellar job and I couldn’t be more pleased and impressed with his performance.

    –John T.

    Tim Ritchey is as smart, honest, and genuine as they come. He truly puts helping people above making money. If you have a need, don’t hesitate to hire him.

    –Jay T.

    Due to the nature of our case, the law firm Peck Ritchey was recommended to us by another probate attorney for our Will contest. Kerry Peck and Kyle Fahey were very upfront and honest with us with respect to the potential outcome and the costs associated with their representation and any litigation. Although the chance of prevailing was minimal, a decision to move forward with their representation was made. They developed and executed upon a strategy that addressed our wishes for the best possible outcome and they delivered! We could not be happier. Both attorneys are extremely good listeners and communicators. Further, the team supporting them has been very accommodating to our needs. We would highly recommend this firm.

    –Sandy K.

    Tim and his staff was very helpful with my estate planning. I appreciated his thorough nature. I would recommend Peck Ritchey to others looking for estate planning.

    –M.S.

    My experience was flawless and very professional. Would highly recommend.

    –-N.S.

    I worked with Jesse Footlik and he was great! He was so easy to work with, explained our options clearly, and had true heart for the matter. I could tell he cares about the people he works with, and searches for solutions that will fit best with their circumstances.

    –L.K.

    Tim and his team exude professionalism, timeliness, and have a unique dedication to client needs. It is a pleasure working with them. For estate planning, succession planning, or just a general factfinding conversation about what they may be able to do for you, there is no one better in the area.

    –S.H.

    Kerry Peck with Kyle Fahey did outstanding work helping settle a difficult, complicated, contentious and sensitive personal matter. They were available by phone, email and text at all times during the day, night and weekend to quickly resolve the matter with the best outcome possible for their client. Thank you!

    –S.S.

    I cannot say enough wonderful things about this firm. The professionalism, knowledge, skills, attention to details, and constant updates were above my expectations. And the bonus was having a better outcome than I could have imagined. Jesse & Nick managed an emotional and difficult situation with care and respect. They are a top-notch team with excellent customer service and have very fair and reasonable prices. I would not hesitate to use this firm for any of your needs.

    –Debbie M.

    Peck Ritchey did an excellent job of resolving a very difficult estate matter.

    –Scott S., Barrington Hills, IL

    Thank you so much for your consistent attention to our case this past year. We were fairly small potatoes, yet you actually ‘got back’ and stayed on it. There were times when the government seemed to drop the ball more than my little league outfield, but my attorney was there. I realize that you actually went beyond the scope; I truly do appreciate your work.

    –Kirt G., Chicago, IL

    My family is so grateful for the positive outcome in my mother’s guardianship trial that had divided our family. Tim Ritchey and the Peck Ritchey team were very professional and thorough in stepping up in an emergency situation and preparing for trial. Peck Ritchey provided us with the peace of mind that my mother will be cared for throughout the rest of her life.

    –Kevin G. Chicago, IL

    Peck Ritchey both represents us defending our funding decisions, but also represents the best in leadership and support for issues that can change the quality of life of older persons. We are grateful that we are represented by a group of thoughtful and skilled experts on the law, and great colleagues in making the law work for our older clientele.

    –Jon L., Oak Park, IL

    I was Legal Guardian and Executor for mother who had passed away 12 years ago. There were two wills. One my mom wrote and another an aunt forced her to change while she had dementia. My former attorney advised me to pay the surety bond for all these years. He lost the original will and the file and closed down his office. My brother who was on SSI was still living in my mother’s apartment, and the estate was left to my mother’s four children. One sister wanted us to buy her out. She was impossible. Peck Ritchey worked with sister’s attorney, helped my brother and closed the estate with all its complications in a few months. We were all concerned that this would turn into a legal mess but they were true professionals, kind, caring and answered all our questions. This the law firm you want on your side. I highly recommend them regarding estates, legal guardianships and drawing up wills.

    –Ellie W., Chicago, IL
    Accolades to Peck Ritchey (in particular, Ron Webb), for handling our estate issues professionally and expediently. We connected after attending a very informative presentation on estate planning, offered to retired educators. Everything was explained thoroughly, encouraging us to seek Ron Webb’s assistance and expertise. Thank you for a valuable experience and for giving us peace of mind for the future.
    –Myrna B., Palos Heights, IL

    Peck Ritchey was there with great advice when my family most needed it the most. They got my daughter’s guardianship done on time, and referred us to an expert social worker so we could get her cases through the complicated government systems. The social worker found that the trust put together by others were not in order. Peck Ritchey made new trust documents or amended existing trusts as needed and improved other existing documents. What I appreciate most is they explained it in plain English so I could understand what had to be and what has been done. I am grateful for everything they did and how they did it!

    –Victor O., Chicago, IL

    Very professional handling of my mother’s estate. Ron was there every step of the way and so were his paralegals I might add – from coming to Rush University when my mom was too sick to come to the office, and taking my phone calls, and always answering my questions, I can’t thank him enough! I am truly grateful for the wonderful experience with Peck Ritchey especially since it is already stressful enough when a loved one is ill. Thank you so much! We will be using your firm for our own estate planning in the very near future, I would definitely recommend Peck Ritchey.

    –Brenda S., Crystal Lake, IL

    Peck Ritchey’s guidance in planning my affairs was practical and easy to understand. They drafted a plan for me that was complete and would grow with me as my future needs develop. I feel confident that our planning would handle any situation that could arise and that if an unforeseen event would occur, Peck Ritchey would be accessible to swiftly handle any additional work.

    –Mike T., Highland Park, IL

    Thank you so much for all of your work and time you spent in facilitating the purchase of our first home. I know we provided you with a short deadline and we appreciate both of you making it happen. The Escrow Officer commented on how seamless everything was for our close. We are extremely grateful for all of your effort. Thank you again!

    –Steve T and Anna C

    Kerry Peck and Jesse Footlik represented me in an extremely complex and litigious trust dispute involving numerous parties. After several years of litigation, the case was settled with a very successful outcome.

    Kerry and his team of diligent attorneys help develop creative and detailed strategies that proved to be an excellent solution and produced the results I was hoping to achieve. During the duration of the lawsuit, communication with the attorneys was timely and thorough. Their passion and attention to detail was genuine and unwavering during the entire ordeal. I was very fortunate to have the Peck Ritchey team for representation and it was a great experience working with them. Knowing that the stakes were extremely high in the trust dispute Peck Ritchey, LLC was the right firm to handle a litigious case of this magnitude.

    –Harvey C, Chicago

    I wanted to express my gratitude to you and your firm’s generosity for providing pro bono legal counsel for a client of mine. Brandon Peck and Kyle Fahey both provided excellent legal representation to an older client who did not have the financial resources for retaining private legal representation and could not obtain any pro bono legal representation from any agencies that support victims of domestic violence. Your firms generosity and willingness to assist a client in need is greatly appreciated. The outcome was what my client hope for and knowing that she will remain safe in her home was the best result. Thank you for the support and services your firm provided to the Adult Protective Service program at North Shore Senior Center.

    –Holly Lichtman, LCSWProgram Supervisor, Adult Protective Services

    If you want a great experience with your estate planning needs, then you owe it to yourself to visit with Ron Webb at Peck Ritchey.

    He explained all the intricacies of optimizing our estate planning needs in a knowledgeable and very friendly manner. It was truly a pleasure working with him and the staff at Peck Ritchey. We highly recommend their services.

    –Larry and Judy F., Crystal Lake, IL

    We would like to express our sincere gratitude to Kerry Peck and Jesse Footlik for the professional and courteous manner in which Peck Richtey have assisted us during the past couple years. You will never know how much it meant to us.

    –Kathy S from Champaign

    I was referred to Peck Ritchey by a former judge after he heard the problems I was having in my case with my first attorney. Kerry Peck and Tim Ritchey are experienced and professional litigators who helped turn my case around for me. I wish I would have gone to them first. They helped me in a contested will and trust matter and were exceptional. I would recommend them highly for any estate, will, or trust matter!

    –J.F., Chicago

    We were extremely impressed with Peck Ritchey’s representation of us in complex litigation involving contested deeds, powers of attorney, and hundreds of acres of family farmland. Kerry Peck and Jesse Footlik were steadfast in their commitment to winning our case, which ultimately resulted in a tremendous settlement for us. Although our case was located in “downstate” Illinois, Kerry and Jesse’s timely and thorough communication made us feel like their office was right next door. We could not be more pleased with their services and the outcome of our case.

    –K.S and K.S., Edgar County, IL

    When my Mom passed, I discovered that a family member had changed Mom’s will after she had dementia. For almost two years, I worked closely with Tim Ritchey and Kyle Fahey. They presented such a compelling case and clearly had no fear of taking it to trial, that the opposing counsel caved on the day of trial. With his outstanding negotiating skills, Tim was able to balance just the right amount of pressure, patience, and professionalism to give us a substantial advantage at the settlement table. In addition to the huge settlement we won, I am so grateful to Kyle and Tim for their thoughtful, compassionate and dedicated approach to such a sad family conflict.

    –S.W.

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