Are you looking for a revocable trust lawyer in Joliet, IL?
At Kravets Law Group, we are trusted revocable trust counsel for families throughout Joliet.
If you want to keep full control of your property during your lifetime while giving your family a private transfer outside of court after your death, a revocable trust can accomplish both. Our Joliet, IL revocable trust lawyer drafts revocable trusts, pour-over wills, funding instructions, and amendments and restatements to existing plans.
Revocable trusts are at the core of our estate planning practice. Our attorney personally handles every revocable trust matter, and pricing is set at a flat rate with transparent fees for deeds and transfer documents. Reach out to schedule a consultation.
Revocable Trust Lawyer Joliet, IL
A revocable trust is a written arrangement in which you transfer assets to a trust that you control and can change or cancel at any time. A revocable trust lawyer drafts the trust, prepares the documents that move your property into it, and plans how a successor trustee will manage and distribute the assets when you can no longer do so.
The median value of an owner-occupied home in Joliet is $265,800, according to the Census Bureau’s QuickFacts. A home titled in a revocable trust can pass to the next generation under the trust’s terms, without a probate case in Will County.
Types of Revocable Trust Cases We Handle in Joliet
A revocable trust gives clients flexibility during life and a smoother transition at death. As revocable trust attorneys in Joliet, we explain each provision in plain English, show clients how the plan works through a visual diagram, and review every document step by step before signing.
- Living trusts. Most living trusts are revocable, and the terms are often used interchangeably. We draft living trusts that name you as trustee and provide clear instructions for your successor.
- Joint revocable trusts. Married couples can hold shared assets in a single trust. We draft provisions that address what happens after the first spouse’s death and how the remaining assets pass to children or other beneficiaries.
- Wills. A pour-over will is typically prepared alongside a revocable trust. It moves assets left outside the trust into it at death and allows parents to name guardians for minor children.
- Trust funding. We prepare deeds for real estate and provide written funding instructions for bank, brokerage, and other accounts. Transfer documents are priced separately, and we explain those fees in advance.
- Amendments. When a beneficiary, trustee, or distribution term needs to change, an amendment updates the trust without replacing it. We keep each amendment consistent with the rest of the document so the trust reads clearly as a whole.
- Restatements. When the changes are extensive, a restatement rewrites the trust in full while keeping the original trust in place. This approach avoids having to retitle assets that are already funded.
- Successor trustee provisions. We name primary and backup trustees and describe their authority, so the person who takes over has clear direction. We also address trustee compensation and how the trustee should communicate with beneficiaries.
- Incapacity planning. A revocable trust allows a successor trustee to manage trust assets if you become unable to do so, without a court-supervised guardianship for those assets.
Why Choose Kravets Law Group as My Revocable Trust Lawyer in Joliet, IL?
Revocable Trusts at the Center of Our Estate Planning Practice
Daniel Kravets has practiced law since 2016 and is admitted in Illinois, Pennsylvania, and New Jersey. He personally handles every revocable trust matter at Kravets Law Group and is a member of the Chicago Bar Association. He is also the author of a forthcoming estate planning book. Revocable trusts are central to the firm’s estate planning work, and clients who need broader planning can rely on the firm as a trust lawyer in Joliet, IL for irrevocable, special needs, and other trust structures as well.
Revocable Trust Results
Our work as a revocable trust lawyer in Joliet and across Illinois has included:
- Revocable living trusts for families with $300,000 to more than $30 million in assets
- Plans that streamline inheritance and keep family affairs private
- Probate avoidance through careful trust design
- Funding assistance through new deeds and account transfers
Revocable trusts are offered at a flat rate. Deeds and transfer documents carry additional fees, which we disclose before any work begins.
What Is Important To Understand About Revocable Trust Cases?
Key Revocable Trust Documents and What They Do
A revocable trust plan includes several documents that work together.
- Trust agreement. This document creates the trust, names the trustees and beneficiaries, and sets the rules for distributions.
- Pour-over will. It directs any property left outside the trust into the trust after death.
- Funding instructions. These written instructions explain how to retitle each account and asset into the name of the trust.
- Deeds. A new deed transfers real estate from your name into the trust.
- Certification of trust. Banks and title companies can rely on this short summary instead of reviewing the full trust agreement.
- Amendment or restatement. These documents change the trust’s terms after it is signed.
What Are Important Aspects of a Revocable Trust Case?
Revocable trusts are flexible, but several issues determine whether the plan works as intended. A revocable trust attorney in Joliet should raise the following points early in the process.
- Control during your lifetime. You typically serve as your own trustee and can buy, sell, or give away trust assets. You can also change beneficiaries or trustees as your family changes. The benefits of trusts in this form center on flexibility and privacy.
- Funding. The trust governs only the assets titled in its name. Trust funding is the step that allows the trust to keep property out of probate.
- Limits on creditor protection. Because you keep control, a revocable trust generally does not shield assets from your own creditors during your lifetime. Clients who need that protection may consider irrevocable asset protection strategies.
- Probate avoidance. Assets properly held in the trust pass to beneficiaries without court involvement, which is the main reason families pursue avoiding probate in Illinois.
- Challenge deadlines. The Illinois Trust Code generally requires a contest to a trust that was revocable at death to be filed within two years of the settlor’s death. If a pour-over will is admitted to probate, the deadline to contest the trust generally follows the deadline to contest the will.
What Is the Revocable Trust Case Timeline?
A revocable trust is created during your lifetime and continues to operate after your death. The typical sequence is described below.
- Planning consultation. We review your goals, family, and assets.
- Drafting and review. We prepare the trust and related documents, explain each one, and make revisions.
- Signing. You sign the trust, pour-over will, and powers of attorney with the required formalities.
- Funding. Deeds are recorded and accounts are retitled according to the funding instructions.
- Administration. After your death, the successor trustee gathers assets, pays final expenses, and distributes property under the trust’s terms. Because the trust becomes irrevocable at death, the successor trustee must follow those terms as written.
What Should You Bring to Your Revocable Trust Consultation?
Specific information about your assets and family helps us prepare an accurate plan and fee quote.
- Deeds or property tax bills for each property you own
- Recent statements for bank, investment, and retirement accounts
- Any existing trust, will, or power of attorney
- Names of the people you are considering as successor trustees and beneficiaries
- Current beneficiary designation forms for life insurance and retirement accounts
At the consultation, our Joliet revocable trust attorney explains how the trust would be structured and funded and provides the flat-rate price along with any fees for deeds and transfers. Clients who are creating a trust for the first time receive a clear explanation of each step before signing. Couples creating a joint trust should plan to attend together.
Will County Probate Court and Local Resources
Joliet residents who live in Will County fall under the jurisdiction of the Twelfth Judicial Circuit, which hears probate matters at the Will County Courthouse on West Jefferson Street. A funded revocable trust generally keeps assets out of that courthouse. When assets were not transferred into the trust, a Joliet probate case may still be needed to transfer them.
Deeds placing Will County real estate into a revocable trust are recorded with the Will County Recorder of Deeds. The permanent index number needed for each deed appears on the property tax bill, and the offices that handle assessments and tax bills are listed on the Will County website. Residents in the Kendall County portion of Joliet fall under that county’s circuit court instead, and deeds for Kendall County property are recorded there.
Reach Out to Kravets Law Group to Schedule a Consultation
A revocable trust attorney in Joliet, IL can help you keep control of your property now and simplify the transfer to your family later. Kravets Law Group offers flat-rate pricing for revocable trusts, with deed and transfer fees disclosed upfront. At your consultation, we will review your assets and explain how the trust would be funded. Contact us to set up a meeting.