Estate Planning Lawyer Chicago
Most people know they need an estate plan. They just don’t know where to start or what it actually involves.
Illinois law determines what happens to your property when you die without a plan in place. Those default rules rarely match what families actually want. A surviving spouse might not receive everything automatically. Minor children need court-appointed guardians. Business interests can become tangled in probate proceedings that last well over a year.
Our Chicago, IL estate planning lawyer at Kravets Law Group works with individuals, families, and business owners who want clarity and control over their legacy. We offer free consultations to discuss your situation.
Why Choose Kravets Law Group for Estate Planning in Chicago, IL?
Local Knowledge of Illinois Estate Law
Daniel Kravets, Founder and Managing Partner of Kravets Law Group, personally handles all estate planning matters at the firm. He has practiced law since 2016 and opened Kravets Law Group in 2020. Licensed in Illinois, Pennsylvania, and New Jersey, Daniel brings familiarity with how Cook County courts operate and how Illinois-specific rules affect your planning options.
Illinois imposes its own estate tax separate from the federal tax. The exclusion amount for Illinois estate tax purposes is $4 million, far lower than the federal exemption, which exceeds $13 million. This gap catches many families off guard. A Chicago estate planning attorney who understands this distinction can structure your plan to minimize or eliminate state tax liability entirely through proper use of trusts and marital deductions.
Daniel is a member of the Chicago Bar Association and active in the Lincoln Park Chamber of Commerce, Decalogue Society, and BNI. He frequently speaks at community and professional events on estate planning topics and is the author of a forthcoming book on the subject.
A Record of Helping Chicago Families
We’ve drafted and implemented estate plans for families with assets ranging from $300,000 to over $30 million. Multi-property owners. Blended families with children from prior marriages. Business owners who need succession planning alongside their personal estate documents.
Every situation is different, but the underlying goal stays the same: creating documents that hold up if challenged and actually reflect what you want to happen.
Clear, Fixed-Rate Pricing
For most estate planning services, we charge a flat rate. You’ll know the cost before we begin. We provide a transparent breakdown of fees for trusts, wills, powers of attorney, and related documents. No surprises.
What Our Clients Say
⭐⭐⭐⭐⭐
“I worked with Kravets Law Group to create my estate plan, and the experience was outstanding from start to finish. Daniel took the time to understand my goals, explain my options clearly, and design a plan that truly fits my family’s needs. He’s incredibly knowledgeable about trusts, wills, and asset protection strategies, but also approachable and patient. Can’t recommend the firm enough!”
— Lyudmyla Len
Read more reviews on our Google Business Profile.
Types of Estate Planning Cases We Handle in Chicago
Estate planning isn’t one-size-fits-all. The documents you need depend on what you own, who you’re protecting, and what concerns keep you up at night. Here are the core services we provide to Chicago families:
Wills. A will is the foundation of most estate plans. It names who receives your property, designates guardians for minor children, and appoints someone to manage the process. Without one, Illinois intestacy laws dictate everything.
Revocable Living Trusts. A revocable trust lets you transfer assets during your lifetime while maintaining full control. When you pass, assets in the trust bypass probate court entirely, saving your family time, money, and public exposure.
Special Needs Trusts. If you have a child or dependent receiving government benefits like SSI or Medicaid, a poorly structured inheritance can disqualify them. Special needs trusts preserve eligibility while providing supplemental support.
Powers of Attorney. These documents appoint someone to make financial or healthcare decisions if you become incapacitated. Without them, your family may need to petition a court for guardianship, a costly, time-consuming process.
Healthcare Directives. Also called living wills, these specify your wishes regarding life-sustaining treatment, organ donation, and end-of-life care.
Asset Protection Planning. Certain trust structures can shield assets from creditors, lawsuits, and nursing home costs while still allowing you to benefit from those assets during your lifetime.
Illinois Legal Requirements for Estate Planning
Illinois has specific rules governing how estate planning documents must be created and executed. Understanding these requirements helps ensure your documents are legally enforceable.
Wills
Under the Illinois Probate Act of 1975 (755 ILCS 5/), a valid will requires the testator to be at least 18 years old and of sound mind. The will must be in writing and signed by the testator, or signed by someone else at the testator’s direction and in their presence. Two credible witnesses must observe the signing and sign the will themselves.
Illinois does not recognize holographic (handwritten) wills unless they meet all standard witnessing requirements. Oral wills are not valid.
Trusts
The Illinois Trust Code (760 ILCS 3/) governs trust creation and administration. A trust requires a settlor with capacity, a trustee, identifiable beneficiaries, and trust property. Revocable trusts can be amended or terminated during the settlor’s lifetime. Irrevocable trusts generally cannot, which is why they offer stronger asset protection.
Powers of Attorney
The Illinois Power of Attorney Act (755 ILCS 45/) establishes requirements for both property and healthcare powers of attorney. A properly executed power of attorney for property requires the principal’s signature, a date, and the signature of one witness (who cannot be the agent). A healthcare power of attorney requires two witnesses.
The statutory short forms provided under Illinois law are widely accepted, but they can also be customized to fit specific needs.
Important Aspects of an Estate Planning Case in Chicago, IL
Different families face different challenges. Here’s what we commonly address with estate planning clients in Chicago:
Blended Family Considerations
When one or both spouses have children from prior relationships, estate planning becomes more complicated. A simple “everything to my spouse” approach may unintentionally disinherit your own children entirely. Trusts can ensure your surviving spouse is provided for while preserving assets for your biological children.
Real Estate in Multiple States
Owning property in more than one state can trigger ancillary probate proceedings in each state where real estate is titled. A living trust that holds all real property, regardless of location, avoids this problem entirely.
Business Succession
If you own a business, your estate plan needs to address who takes over, how the transition happens, and how to fund any buyout provisions. A business succession plan integrated with your personal estate documents prevents your company from being liquidated at fire-sale prices just to pay estate obligations.
Tax Planning
Illinois imposes an estate tax on estates exceeding $4 million. For married couples, proper planning can effectively double that exclusion through use of credit shelter trusts or Illinois QTIP elections. According to the Illinois Attorney General’s Office, the estate tax return must be filed within nine months of death for estates above the threshold.
Incapacity Planning
Estate planning isn’t just about death. It’s also about what happens if you become unable to manage your own affairs. Powers of attorney for both property and healthcare decisions ensure someone you trust can act on your behalf without court intervention.
Beneficiary Designation Review
Retirement accounts, life insurance policies, and certain bank accounts pass outside of your will through beneficiary designations. These designations override whatever your will says. We review all of your assets to ensure your beneficiary designations align with your overall plan.
What Steps Should I Take to Create an Estate Plan?
Creating a solid estate plan doesn’t have to be overwhelming. Here’s how the process typically works:
1. Gather Your Financial Information
Before meeting with an estate planning attorney in Chicago, collect information about what you own. Real estate deeds. Bank and investment account statements. Retirement account balances. Life insurance policies. Business interests. Outstanding debts.
2. Think About Your Goals
Who do you want to receive your assets? When should they receive them? Do any beneficiaries have special circumstances, such as addiction issues, disabilities, or creditor problems, that require protection? Who should serve as guardian for minor children?
3. Choose Your Fiduciaries
You’ll need to name people to serve in key roles: executor of your will, trustee of any trusts, agents under powers of attorney, and guardians for children. These decisions matter more than most people realize.
4. Schedule a Consultation
During your initial meeting, we’ll discuss your situation, answer questions, and outline what documents make sense. We use visual estate plan diagrams and plain-English explanations to make sure you understand every component.
5. Draft the Documents
We prepare your documents based on our consultation. You’ll receive drafts to review before the signing appointment.
6. Execute Your Documents
Proper execution requires witnesses and, in some cases, notarization. We handle this at our office to ensure everything meets Illinois requirements.
7. Fund Your Trust
If your plan includes a revocable trust, we provide funding instructions and can prepare deeds to transfer real estate into the trust. An unfunded trust provides no benefits. Assets must actually be titled in the trust name to avoid probate.
8. Store Your Documents Safely
We’ll advise you on where to keep your original documents and who should know their location. Some clients file their wills with the Cook County Probate Division for safekeeping.
9. Review Periodically
Life changes. Marriages, divorces, births, deaths, moves, significant asset changes. Any of these can require updates to your plan. We recommend reviewing your documents every three to five years or after any major life event.
10. Communicate With Your Family
Let your family members know that you have a plan in place and where to find it. This prevents confusion and conflict when documents are actually needed.
Chicago Estate Planning Infographic
Estate Planning Statistics in Chicago
Cook County handles more probate cases than any other county in Illinois. The Probate Division of the Circuit Court of Cook County hears matters involving wills, estates of decedents and disabled persons, and guardianships. The volume of cases filed each year reflects how many families either lacked proper planning or had plans that still required court supervision.
According to data from the Illinois Department of Revenue, trusts and estates in Illinois must pay a business income tax, and trusts also pay a replacement tax. The fiduciary tax applies to income that isn’t distributed to beneficiaries within the tax year.
The Illinois Attorney General reports that estates with a gross value exceeding $4 million after inclusion of adjusted taxable gifts must file an Illinois estate tax return, whether or not a federal return is required. This threshold has remained unchanged for several years while the federal exemption has increased significantly, creating planning opportunities for those who prepare.
National surveys consistently show that a majority of American adults do not have basic estate planning documents in place. Among those who do have wills, many were drafted years ago and no longer reflect current circumstances, asset values, or family situations.
The cost of probate in Illinois typically ranges from 2% to 5% of the estate’s value, not including attorney fees. For a $500,000 estate, that’s $10,000 to $25,000 in costs that could be avoided entirely with proper trust-based planning. Probate proceedings in Cook County commonly take six months to a year for straightforward matters and significantly longer when disputes arise.
Chicago Estate Planning Lawyer FAQs
Do I need an estate plan if I don’t have a lot of assets?
Yes. Estate planning addresses more than just asset distribution. Powers of attorney ensure someone can manage your finances and healthcare if you’re incapacitated. Guardian designations protect your minor children. Even with modest assets, dying without a will creates unnecessary complications.
What’s the difference between a will and a trust?
A will is a legal document that takes effect at death and requires probate court supervision. A trust is a legal entity that can hold assets during your lifetime and distribute them after death without court involvement. Trusts provide privacy and avoid probate delays.
How much does estate planning cost in Chicago?
We charge flat rates for most estate planning services. A basic will package costs less than a comprehensive trust-based plan. During your free consultation, we’ll provide a specific quote based on your situation.
Can I write my own will?
Technically, yes. But DIY wills frequently contain errors that make them unenforceable or create unintended consequences. Illinois has specific execution requirements that must be followed precisely.
What happens if I die without a will in Illinois?
Illinois intestacy laws determine who inherits your property. Your spouse and children typically share the estate, but the split may not match your wishes. Unmarried partners receive nothing. The court appoints an administrator who may not be someone you would have chosen.
How often should I update my estate plan?
Review your plan every three to five years or after major life events: marriage, divorce, birth of a child, death of a beneficiary, significant asset changes, or a move to a different state.
What is probate and how do I avoid it?
Probate is the court-supervised process of validating a will, paying debts, and distributing assets. It’s public, can be expensive, and typically takes six months or longer. Assets held in a properly funded revocable trust avoid probate entirely.
Who should I name as executor of my will?
Choose someone trustworthy, organized, and capable of handling financial matters. The executor doesn’t need legal or financial training, as they’ll likely hire professionals to help. But they should be someone who can make decisions under pressure.
What is a power of attorney?
A power of attorney authorizes someone to act on your behalf for financial or healthcare decisions. Without one, your family may need to petition for guardianship if you become incapacitated, a process that can cost thousands of dollars and take months.
Should I put my house in a trust?
For most homeowners, transferring real estate into a revocable trust simplifies the transfer process at death and avoids probate. We prepare the deed and ensure proper recording with the Cook County Recorder of Deeds.
What is a special needs trust?
A special needs trust allows you to provide for a disabled beneficiary without disqualifying them from means-tested government benefits like SSI and Medicaid. We draft both third-party and first-party special needs trusts depending on the funding source.
Can I disinherit a family member?
In most cases, yes. Illinois does not require you to leave anything to adult children. However, a spouse has certain rights that cannot be eliminated entirely without their consent. Specific language in your will or trust documents makes your intentions clear.
What is an irrevocable trust?
An irrevocable trust generally cannot be changed after creation. It offers stronger asset protection and potential tax benefits but requires giving up control of the assets placed in it.
How do I choose a guardian for my children?
Consider who shares your parenting values, has the financial stability to take on additional children, and lives in a location that works for your family. Name both a first choice and an alternate.
What documents are included in a typical estate plan?
Most plans include a will, revocable trust, power of attorney for property, power of attorney for healthcare, and a HIPAA authorization. Some clients also need additional documents like guardianship nominations or business agreements.
What to Expect With Your Estate Planning Case
When you work with our Chicago estate planning attorney, you’ll start with a free consultation where we discuss your assets, family situation, and goals. We’ll explain your options in plain English, with no unnecessary legal jargon.
After the consultation, we provide a fixed quote for the documents you need. Once you approve, we draft your plan and schedule a review meeting to walk through each document. You’ll have the opportunity to ask questions and request changes before the signing appointment.
Execution typically takes about 30 minutes at our office. We ensure all witnessing and notarization requirements are met. For trusts, we provide detailed funding instructions and can prepare deeds for real estate transfers.
The timeline from first meeting to completed documents is typically two to four weeks, depending on complexity and scheduling.
What Are Important Local Resources for Chicago Estate Planning?
The following resources may be helpful for Chicago residents working on estate planning matters. This is not an endorsement of any organization.
Cook County Probate Division
Richard J. Daley Center, 50 W. Washington Street, 18th Floor
(312) 603-7546
Cook County Clerk of Circuit Court – Probate
Richard J. Daley Center, 50 W. Washington Street, Room 1202
(312) 603-5030
Illinois Attorney General – Estate Tax Section
115 S. LaSalle Street, Chicago, IL 60603
(312) 814-2491
Cook County Recorder of Deeds
118 N. Clark Street, Chicago, IL 60602
(312) 603-5050
Kravets Law Group has no affiliation with these organizations and does not endorse any particular service.
Contact Kravets Law Group
If you’re ready to protect your family and your legacy, our estate planning law firm offers a free consultation to discuss your situation. We’ll explain your options, answer your questions, and provide a clear quote before any work begins.
Daniel Kravets personally handles every estate planning matter. You’ll work directly with the attorney who drafts your documents, not a paralegal or junior associate.
Contact us to schedule your consultation. We serve clients throughout Chicago and the surrounding communities in Cook County.