Aurora Trust Lawyer

Trusted trust attorneys with over 10 years of experience.

If you are considering setting up a trust in Aurora, IL, the right structure depends on what you own, who you are trying to protect, and whether your priority is avoiding probate, reducing estate taxes, or preserving a family member’s eligibility for government benefits. Getting clear answers to those questions before you commit to a particular type of trust can save your family significant time and money down the road.

Kravets Law Group works with individuals, families, and business owners across Illinois to create and manage trust structures that fit their specific goals. Our Aurora, IL trust lawyer has been serving clients since the firm opened in 2020, and Daniel Kravets brings 10 years of legal experience to every trust he drafts. We offer flat-rate pricing for most trust documents and free consultations for new clients. If a trust makes sense for your situation, we’ll tell you. If it doesn’t, we’ll say that too.

Trust Lawyer Aurora, IL

What is a trust, and when do you need one?

A trust is a legal arrangement where one person (the trustee) holds and manages property for the benefit of another (the beneficiary). You can create a trust during your lifetime or through your will.

For Aurora families, trusts serve several purposes. They can keep your estate out of probate court, protect assets from creditors, provide for a family member with special needs, or manage wealth across multiple generations. The right type of trust depends entirely on what you’re trying to accomplish. Daniel Kravets personally handles all trust matters and has created customized trust structures for families with assets ranging from modest savings to multi-million-dollar estates.

Types of Trust Cases We Handle in Aurora

Our firm drafts and administers a range of trust structures for Aurora clients. The right trust depends on your family, your assets, and your goals.

• Revocable living trusts. This is the most common trust we create. A revocable trust lets you transfer assets out of your name during your lifetime, which means they pass to your beneficiaries without going through probate. You keep full control and can change or revoke the trust at any time. Trust funding is a critical step that many attorneys overlook.
• Irrevocable trusts. Once created, an irrevocable trust generally cannot be changed. These trusts are used for asset protection, tax planning, and Medicaid planning. They remove assets from your taxable estate, which can be significant for larger estates.
• Special needs trusts. Families with a child or dependent who receives SSI or Medicaid need a trust that preserves those benefits. A special needs trust holds assets for the beneficiary without disqualifying them from government programs. We’ve drafted these for families in Aurora and throughout Illinois.
• Dynasty trusts. For families who want to protect wealth across multiple generations, a dynasty trust can hold assets in perpetuity. This structure shields assets from estate taxes at each generational transfer.
• Life insurance trusts. An irrevocable life insurance trust (ILIT) owns your life insurance policy so that the death benefit isn’t included in your taxable estate. For families with significant life insurance, this trust can save tens of thousands of dollars in estate taxes.
• Charitable trusts. If philanthropy is part of your plan, a charitable remainder trust or charitable lead trust lets you support a cause while generating tax benefits. We work with Aurora families to structure these gifts in the most efficient way.
• Pour-over wills. This is not a trust itself, but it is a critical companion document. A pour-over will directs any assets not already in your trust to flow into it at death, keeping your estate plan unified.
• Trust amendments and restatements. Life changes, and your trust should change with it. We draft amendments to update specific provisions, and full restatements when the changes are substantial enough to warrant a new document.

Why Choose Kravets Law Group for Trust Matters in Aurora, IL?

A Decade of Trust Drafting Experience

Daniel Kravets has been practicing law since 2016 and has created trust structures for families with $300,000 to over $30 million in assets. He earned his law degree from Drexel University Thomas R. Kline School of Law and holds bar admissions in Illinois, Pennsylvania, and New Jersey. He is an active member of the Chicago Bar Association and a frequent speaker at community events on estate planning topics.

His experience includes dynasty trusts designed to protect multi-generational wealth, special needs trusts that preserve government benefits, and revocable living trusts for families who want to avoid the cost and delay of probate. He is also authoring a forthcoming book on estate planning. For families in Aurora who want a broader estate planning strategy, we build plans that include trusts, wills, powers of attorney, and healthcare directives.

Clear, Flat-Rate Pricing

Most trust matters at our firm are priced at a flat rate. We give you a complete breakdown before we start drafting, and additional fees for deeds or transfer documents are quoted separately and transparently. We also provide a free initial consultation so you can ask questions about the benefits of trusts and determine whether a trust is the right move for your family.

Understanding Trust Cases

Key Trust Documents and What They Do

Trusts involve several interconnected documents. Here is what each one does:

• A trust agreement is the core document. It names the grantor, the trustee, and the beneficiaries, and sets out the terms for how assets are managed and distributed.
• A certificate of trust is a shorter document that summarizes the trust’s key provisions. Banks and title companies often require one when you retitle assets.
• Trust funding documents include deeds, account transfer forms, and beneficiary designation changes. Without these, the trust exists on paper but doesn’t control any assets.
• A pour-over will catches assets that were never moved into the trust during the grantor’s lifetime. It directs those assets into the trust at death.
• Powers of attorney are separate documents that cover financial and healthcare decisions during incapacity. They work alongside the trust but serve a different function.

Illinois trusts are governed primarily by the Illinois Trust Code and related provisions under the Illinois Probate Act. These statutes set out trustee duties, beneficiary rights, and rules for trust modification and termination.

What Are Important Aspects of a Trust Case?

Several issues come up regularly in trust planning. Joint tenancy property passes automatically to the surviving owner, regardless of what your trust says, so you need to re-title joint assets if you want them in the trust. Retirement accounts and life insurance policies pass by beneficiary designation, not through the trust. And if you own real estate in another state, the trust can help you avoid ancillary probate in that state.

For blended families, trust provisions need to balance the interests of a surviving spouse against the interests of children from a prior relationship. This is where the drafting gets complicated, and where the wrong language can create years of litigation.

What Is the Trust Case Timeline?

Creating a trust typically takes three to six weeks, depending on the size of the estate and the type of trust involved.

• Consultation: We discuss your assets, family situation, and objectives.
• Drafting: The trust agreement and companion documents are prepared within one to two weeks.
• Review: You review the documents, ask questions, and request changes.
• Execution and funding: You sign the trust, and we begin the process of transferring assets into it. This can take an additional two to four weeks depending on how many assets need to be re-titled.
• Ongoing administration: We’re available for questions after the trust is funded. We recommend reviewing your trust every three to five years.

What Should You Bring to Your Trust Consultation?

Come prepared with the following:

• A list of all major assets: real estate, bank accounts, investment accounts, retirement accounts, life insurance policies, and business interests
• Copies of any existing estate planning documents, including prior wills and trusts
• Names and contact information of intended beneficiaries, successor trustees, and guardians for minor children
• Information about any debts or liabilities
• Details about any government benefits you or a family member currently receive, if applicable

This information lets us give you concrete advice during the consultation rather than speaking in generalities.

What Are Important Illinois Legal Resources for Trust Cases?

Illinois has a well-developed body of law governing trusts. The following resources provide foundational information.

• The Illinois Probate Act contains the statutes governing trust creation, administration, and termination in Illinois.
• The Cook County Probate Division handles trust-related filings and disputes when they involve the court system.
• The IRS estate and gift tax page explains how trusts interact with federal estate and gift taxes.
• The Illinois Attorney General provides consumer protection resources relevant to estate planning and trust administration.
• Illinois Legal Aid Online offers free legal information for Illinois residents on estate planning topics.

Reach Out to Kravets Law Group to Schedule a Consultation

If you’re considering a trust in Aurora, IL, we can help you determine which type fits your situation and what it will cost. We offer flat-rate pricing for most trust documents and a free initial consultation. Daniel Kravets personally handles every trust matter and takes the time to explain each provision so you’re confident in your plan. We typically respond to inquiries within one business day. Contact us to schedule your free consultation.