Are you looking for a trust lawyer in Skokie, IL?
At Kravets Law Group, we have a trust practice built on 10 years of client representation.
If you want to protect your assets and keep your family out of probate court, a properly drafted trust gives you control over who receives your property and when. Our Skokie, IL trust lawyer prepares revocable living trusts, irrevocable trusts, and specialized structures for families with particular needs.
Kravets Law Group has served Illinois clients since 2020. Our attorney brings 10 years of experience to this work and personally handles every trust matter we accept. Contact our office to set up a consultation.
Trust Lawyer Skokie, IL
A trust attorney creates the legal arrangement that allows one person, the trustee, to hold and manage property for the benefit of others. The work includes drafting the trust agreement, preparing a successor trustee to take over when the time comes, and transferring homes and accounts into the trust’s name. If those transfers are never completed, the trust has little practical effect.
Residents aged 65 and older make up 21.1% of Skokie’s population, according to Census Bureau QuickFacts data. For those households, a funded trust allows a house or brokerage account to pass to the next generation without opening an estate in Cook County’s probate system.
Types of Trust Cases We Handle in Skokie
The right trust depends on the people involved as much as the property. As trust lawyers serving Skokie, IL families, we start with a plain-English conversation, map the proposed plan in a visual diagram, and walk through every document with you before signing.
- Revocable living trusts. Many families begin their planning with this type of trust. You keep full control during your lifetime and can amend or revoke it whenever your circumstances change. At death, the successor trustee distributes assets privately, without a court case.
- Irrevocable trusts. Once signed, these trusts generally cannot be changed by the person who created them. Clients use them to remove assets from a taxable estate or to protect property from certain future claims.
- Dynasty trusts. A dynasty trust holds wealth for children, grandchildren, and later generations under a single set of rules. We draft distribution standards that balance a beneficiary’s access to funds against long-term protection.
- Special needs trusts. Parents of a child with a disability often worry that an inheritance will disrupt SSI or Medicaid eligibility. A properly drafted special needs trust pays for supplemental expenses while preserving eligibility for those programs.
- Life insurance trusts. An irrevocable life insurance trust owns a policy so the proceeds stay outside the insured person’s estate. The trust terms also control how and when beneficiaries receive the payout.
- Charitable trusts. Clients who want to support a cause can structure a gift that pays income to family members now and benefits a charity later, or the reverse.
- Wills. A trust is typically paired with a pour-over will. That will catches any asset left outside the trust and names guardians for minor children.
- Trust amendments and restatements. A marriage, a divorce, a new grandchild, or the sale of a property can each justify a review. We amend existing trusts, or restate them in full when the changes are extensive.
Why Choose Kravets Law Group as My Trust Lawyer in Skokie, IL?
Direct Attorney Involvement From Start to Finish
Daniel Kravets is licensed in Illinois, Pennsylvania, and New Jersey, and he has worked as a trust attorney for 10 years. He personally handles every trust matter at the firm. He is a member of the Chicago Bar Association and earned his J.D. at Drexel University’s law school. Clients who arrive with a single question about a trust often need coordinated wills and trusts, powers of attorney, and probate planning too, and that full range is what a family should expect from an estate planning lawyer in Skokie, IL.
Trust Planning Results for Illinois Families
Since opening in 2020, we have completed trust work that includes:
- Revocable living trusts for families holding $300,000 to more than $30 million in assets
- Dynasty trusts designed to preserve wealth across several generations
- Special needs trusts that protect government benefits for disabled beneficiaries
- Deed and account transfers so that each trust actually holds the assets it names
- Plans for blended households and owners of multiple properties
Most trust documents are available at a flat rate, and we explain the cost of each one before work begins.
What Is Important To Understand About Trust Cases?
Key Trust Documents and Their Purpose
A trust plan prepared by a trust lawyer in Skokie is a group of documents that work together.
- Trust agreement. This document names the trustee and beneficiaries and sets the rules for managing and distributing the assets.
- Pour-over will. It directs any asset left outside the trust into it at death.
- Funding documents. Deeds, assignments, and retitled accounts move property into the trust. Without proper trust funding, property can still end up in probate.
- Schedule of assets. This list identifies the property held in the trust and should be updated as you buy, sell, or retitle assets.
- Certification of trust. This short summary is accepted by banks and title companies in place of the full agreement.
- Powers of attorney. Your agents for property and health care act for you during incapacity, because a trustee controls only trust assets.
What Are Important Aspects of a Trust Case?
Several decisions determine whether a trust performs the way you intended when you created it.
- Choosing a trustee. The successor trustee will manage money, file tax returns, and communicate with beneficiaries. The best choice is often the person most capable with financial matters, who may not be the oldest child.
- Revocable or irrevocable. A revocable trust offers flexibility. An irrevocable trust gives up some control in exchange for asset protection and tax planning. The benefits of trusts vary by type, so the choice should follow your goals.
- Privacy. A trust administration generally stays out of the public court file, one reason families focus on avoiding probate in Illinois. Gaps in trust planning can push even high-profile estates into public court proceedings.
- Business interests. Owners of a closely held company can place their shares or LLC interest in trust and coordinate that transfer with business succession planning. This planning allows the company to continue operating if the owner dies or becomes incapacitated.
- The deadline to challenge a trust. Under the Illinois Trust Code, a person contesting a trust that was revocable at the settlor’s death must generally file within two years of the death. The window can close sooner, such as six months after the trustee sends a copy of the trust along with the required notice.
What Is the Trust Case Timeline?
The pace depends on the number of assets involved and how quickly the necessary records are gathered. Most plans follow this sequence.
- Consultation. We discuss your goals, your family, and what you own.
- Plan design. We present the proposed structure for your review before drafting begins.
- Drafting and revisions. We prepare the documents and adjust them based on your comments.
- Signing. You sign the trust, pour-over will, and powers of attorney with the required witnesses and notary.
- Funding and follow-up. Deeds are recorded, accounts are retitled, and beneficiary designations are updated. The effort to create a trust is not finished until these transfers are complete. Periodic reviews keep the plan current as your life changes.
What Should You Bring to Your Trust Consultation?
A complete picture of your assets lets us recommend the right structure at the first meeting. Bring what you can from this list.
- Recent statements for bank, brokerage, and retirement accounts
- Deeds or property tax bills for any real estate
- Any existing will, trust, or power of attorney
- Life insurance policies and current beneficiary designations
- Names of the people you are considering as trustees and beneficiaries
At the consultation, our Skokie trust attorney reviews these materials, explains which type of trust fits your situation, and outlines the flat-rate cost before any work begins. Clients who signed a trust years ago can have it checked for unfunded assets and outdated terms.
Cook County Probate Court and Local Resources
Because Skokie is in Cook County, estates that require court supervision go through the Probate Division of the Circuit Court of Cook County at the Richard J. Daley Center in downtown Chicago. The division also runs a mediation calendar for disputes that arise in pending probate cases. A fully funded revocable trust, by contrast, can often be administered without any court filing, so a successor trustee may not need to appear in probate court at all.
After a death, the original will is delivered to the Clerk of the Circuit Court’s probate division office. Funding a trust with real estate usually means recording a deed with the Cook County Clerk’s Office, which took over the county’s recorder of deeds duties in December 2020.
Reach Out to Kravets Law Group to Schedule a Consultation
A trust attorney in Skokie can help you choose a structure that protects both your property and the people you plan to leave it to. Kravets Law Group offers flat-rate pricing on most trust documents, with every cost explained at the start. We will review your assets, answer your questions, and recommend next steps. Contact us to schedule a consultation at a time that works for you.