Previous posts on this blog have discussed some of the many services our law office offers to those in the greater Chicago area who are trying to plan what will happen to their assets when they die.
The goal of many of these people is to pass as much of their wealth on to their loved ones as is possible, and our law office’s goal when planning an estate is to help our clients do just this through a careful and strategic creation of various estate planning devices like wills, trusts of various sorts and even corporations that are designed to protect a persons’ assets.
Our estate planning services serve to help our clients protect their property in a number of ways. For one, a good estate plan can head off estate litigation among one’s heirs and other relatives, or, at a minimum, reduce the drain on time and money that these sorts of legal flare ups cause.
Two, especially given our background in tax law, we are able to help clients, particularly those with a lot of assets, to avoid or reduce their tax liability through appropriate estate planning. This process can save an estate thousands of dollars.
On the other hand, in many cases, a family might be of relatively modest means but just make or have a little too much to qualify themselves or a loved one for government benefits. In this case, appropriate planning can help a family ensure that they will be able to get the financial assistance for which they may not otherwise qualify but most definitely need.