Glick and Trostin, LLC offers a broad scope of estate planning services, including wills, trusts, powers of attorney, and asset protection planning. However, there is more to estate planning than the aforementioned services. We ensure that each client's long-range plans are addressed with their unique needs in mind, whether the needs are simple or highly complex. Our careful attention to detail and broad legal experience make us one of Chicago's premier estate planning firms. The estate planning attorneys at Glick and Trostin, LLC can advise you in all of your estate planning needs, whether you are just beginning to build your estate or want to protect the wealth that you have amassed over a lifetime.
If you have minor children, estate planning can make sure that they are provided for, both personally and financially, upon your death or incapacity.
Trust, estate and tax laws are constantly changing. Glick and Trostin, LLC attorneys counsel clients with up-to-date advice in order to properly plan their estates and protect the assets they build over a lifetime. Glick and Trostin, LLC has proven experience in effectively and legally reducing exposure to gift, estate, and inheritance taxes. We provide advice on estate planning techniques that can be used not only upon death but during your lifetime to enable wealth to pass to your intended beneficiaries in the most tax efficient manner possible.
If an estate is subject to probate, it is probably because the deceased person either did not prepare an adequate estate plan or only had a will in effect at the time of his or her death. But this is not always the case. Some clients prefer that the proceedings are controlled by a judge who can preside over disputes between heirs or between the heirs and the executor. In addition, creditors are required to submit their claims against the estate within a six-month period, provided they have been notified of the probate. If they don’t submit their claim properly, they will not be able to recover on the debt. The executor is required, in many cases, to prepare an accounting and report of the executor’s activities to the court and get the court’s approval of the actions they have taken. This adds a level of protection for the beneficiaries.
As your attorneys, our job is to assist you in carrying out your duties as Executor. We will help you prepare and file all of the necessary court documents and maneuver through the legal system with ease. We will assist you in collecting and valuing assets, paying debts and taxes, and prepare the necessary transfer documents in connection with the eventual distribution of the estate to the appropriate beneficiaries. We will help you identify the creditors and negotiate any claims against the estate. We will prepare the court accountings and reports and assist you in bringing the estate to a close in the most efficient way possible.
If you are a beneficiary, you have rights. The exact nature of those rights is governed by the Illinois Probate Code and the specific language in the will, if any. If you feel that the executor is not performing their fiduciary duties, we can assist you in enforcing your rights and assist you in moving toward a resolution
The average person has had little experience dealing with trusts and often has many questions upon becoming a trustee for the first time. Through our experience in helping people administer trusts, we have found many trustees are unaware of the administrative chores and responsibilities that must be undertaken, the number of legal documents that are needed to be prepared, tax returns filed, and other matters that take time and cost money.
Our experience and knowledge can assist you in carrying out your duties as Trustee. We will help you collect and value assets, pay debts and taxes, and prepare the necessary transfer documents in connection with the distribution of trust property to the appropriate beneficiaries. We will also prepare any accountings and reports to be given to the beneficiaries. If any court action is necessary, we will represent you in that action.
208 S. LaSalle, Suite 1650, Chicago, IL 60604