Chicago Testamentary Trust Will Attorneys
If you are thinking of including a testamentary trust as part of your living will, you are going to need legal advice on how to do so responsibly and correctly. Leaving an estate to someone is no simple matter. If you want that estate to go to someone, such as a minor, once they are capable of handling the assets, you need to be sure that the person you name as trustee is responsible. They need to be someone who will act in the best interest of the beneficiary rather than in their own self-interest. There are a lot of factors to consider when entering this process, and none of it is to be taken lightly. If you want an estate attorney who will make sure your testamentary trust is set up correctly, contact Peck Ritchey, LLC at (855) 328-5787 or reach out using the live chat feature on our website.
Why do I need a Testamentary Trust Will Attorney?
Creating a testamentary trust will is not easy. These trusts, which are contained within your final will and testament, are a way of handing assets down to children, relatives with disabilities, or others who may not be ready to handle the responsibility for themselves at the time of your death. You, the settlor, must appoint a trustee to oversee and manage the assets until they can be handed down to the beneficiary, or the person who is meant to be the final recipient of the funds. You have to choose an appropriate time for the assets to be released to the beneficiary, such as when they turn 25, when they graduate college, or when they get married. All of this must be outlined in your will, and it must be done with complete clarity and forethought to ensure that everything ends up in the right hands.
A probate court will check in every once in a while to make sure the assets are being handled appropriately, but the trustee doesn’t necessarily have to follow what is laid out in your will. They also don’t have to accept the position in the first place, in which case the court can appoint someone to act as your trustee or someone can volunteer. If a testamentary trust is something you decide to include in your will, you want a legal expert to oversee the process and ask the right questions to ensure that everyone involved can be trusted. Overall, the process needs to be done in a very specific way, and it is a good idea to hire a neutral third party who can make sure the whole process is handled appropriately.
Why choose Peck Ritchey, LLC To Handle My Case?
When you are choosing an attorney to help you put together a will, you want someone who is successful, experienced, and open to working closely with you so that your will reflect exactly what you want. At Peck Ritchey, LLC, we employ attorneys who are willing to work on a case until their client is happy with the will they are leaving behind.
Kerry R. Peck, our managing partner, is one of the most trusted attorneys in the Chicago area. He has been named a Super Lawyer, or an attorney that other attorneys would refer their loved ones to, every year for the last 11 years. He was also awarded the Justice John Paul Stevens Award in 2017, which is the highest honor anyone can receive from the Chicago Bar Association. Peck is experienced in the areas of law related to creating a testamentary trust will, including estate planning, will contests, and trust litigation. He knows how to look at a will and a person’s assets from every angle to ensure that everyone’s final wishes are followed.
Another attorney you could work with on your testamentary trust will is Patrick J. Bushell, an associate attorney here at Peck Ritchey, LLC. He earned his Juris Doctor from John Marshall School of Law, and he was selected as a top emerging lawyer in trust, will, and estate planning by Leading Lawyers Magazine in 2017 and 2018. He too, is incredibly qualified to help you plan your estate, and his experience in trust and probate litigation means he will be able to help you set up a testamentary trust that is to your liking, and he will make the process as stress-free for you as possible.
As a firm, we are very proud of our successes, but even more proud of the satisfied clients who have motivated us to earn those successes. We have had some clients with absolutely heartbreaking stories, and we always work our hardest to help them make the best of those situations. Our clients especially appreciate the care with which we approach estate planning and our ability to explain complex procedures in terms that make sense, as well as our desire to keep all relevant parties in the loop when developments occur.
Types of Cases We Handle
Because the attorneys of Peck Ritchey, LLC are experienced in many different types of law, we know how to make sure that you are making the best possible decision for yourself, your family, and your estate. Setting up a testamentary trust will can be complicated, but we know that if the potential payout from your life insurance could be large compared to your assets, it’s the right thing to do. We will advise you through the process of creating a will, and we will make sure it is written so that your final wishes are followed correctly.
If you need to create a testamentary trust as part of your living will, the attorneys of Peck Ritchey, LLC are the best people for the job. We will help you through the process, making your choices our top priority along the way. Creating a will is not easy, but we are more than happy to help the people of Chicago through this stressful and emotional time. To hire an experienced testamentary trust will attorney ready to represent you through your living will, contact Peck Ritchey, LLC at (855) 328-5787 or reach out to us using the live chat feature on our website today.