Protect Your Wishes With Estate Planning
Estate planning should be a priority for all adults, no matter their age, income or assets. Proper estate planning can protect not only your wishes, but also the best interests of your loved ones. At Monahan Law Group, LLC, we have decades of experience helping individuals create estate plans that fit their needs.
Practical Advice Based On Your Goals
The best estate plans accomplish the goals of the individual with minimal disruption or impact for his or her loved ones. Our attorneys have experience in a wide range of legal areas to guide you in creating an effective estate plan. We provide guidance to individuals in Chicago and throughout Illinois with all aspects of estate planning, including:
- Tax strategies: Avoiding estate taxes is a common goal for many people in Illinois, but it involves careful estate planning with the help of an experienced attorney to be effective.
- Charitable planning: Many people do not realize that they can leave their estate to a charity. With the right estate planning tools, you can leave behind an important gift.
- Business succession planning: It is important to plan for the future of your business now. Our lawyers will make recommendations and assist you with formulating a plan based on your goals.
- Advance directives: An advance directive power of attorney ensures that your loved ones know how you would like your medical care to be handled should you become incapacitated. Planning for these decisions now protects you and allows family or friends to avoid difficult decisions later.
- Wills: Wills are the foundation of many effective estate plans. We can assist you with creating a will that leaves no room for interpretation.
- Trusts: Trusts can be an effective way to protect your assets. We provide assistance in establishing revocable and irrevocable trusts, irrevocable life insurance trusts (ILITs) and other life insurance trusts, grantor trusts, generation-skipping trusts (GSTs), grantor retained annuity trusts (GRATs), and other trusts that may support your estate planning goals.
If an emergent situation arises, our lawyers will be prepared to act quickly to find a resolution.
Estate Planning For People With Disabilities
Our law firm emphasizes advocacy for people young and old with disabilities. With backgrounds in relevant areas, including social work, child welfare, guardianship and mental health law, our lawyers offer comprehensive disability planning. If you or a loved one has a disability, we can assist in establishing a special-needs trust or examine other options to protect you or your loved one.