Planning for the future is one of the most important steps you can take to protect your assets and ensure that your loved ones are cared for according to your wishes. At MST Law, we provide experienced legal guidance for estate planning, helping Illinois residents draft wills and trusts that safeguard their legacies while minimizing legal complications for their heirs.
A will is a legally binding document that outlines how your property and assets should be distributed upon your death. It also allows you to appoint guardians for minor children and name an executor to oversee the distribution process. Without a will, Illinois intestacy laws will determine how your assets are divided, which may not align with your wishes.
A trust, on the other hand, is a legal entity that holds assets on behalf of beneficiaries, managed by a trustee. Trusts can offer advantages such as avoiding probate, providing greater control over asset distribution, and protecting assets from creditors. While both wills and trusts serve estate planning purposes, they function differently and can often work together to create a comprehensive plan.
Depending on your estate planning goals, different types of trusts may be beneficial. Some common options include:
Many people delay estate planning, assuming they have plenty of time or that their assets will automatically go to their loved ones. However, failing to create a will or trust can lead to unintended consequences, including disputes among heirs, unnecessary probate costs, and delays in asset distribution.
By working with MST Law, we ensure that your estate plan:
One of the biggest mistakes individuals make is failing to update their estate plan after major life events such as marriage, divorce, or the birth of a child. Additionally, improperly funding a trust—meaning assets are not correctly transferred into the trust—can result in those assets still going through probate. Another common issue is selecting the wrong executor or trustee, as poor management can lead to financial mismanagement and legal disputes.
At MST Law, we take a personalized approach to estate planning, ensuring that your will or trust reflects your unique family dynamics and financial goals. Our experienced attorneys help clients draft, update, and execute legally sound estate planning documents, avoiding common pitfalls that can lead to complications down the road.
We offer:
Estate planning doesn’t have to be overwhelming. Whether you need to draft a will, establish a trust, or update your existing plan, MST Law is here to guide you through the process. Contact us today for a consultation and take control of your legacy with confidence.