Protecting Your Assets from Burdensome Regulations in Illinois
Last updated on August 9, 2024
You have worked hard all your life to build your wealth. Now, it is time to protect your high-value assets from estate taxes, capital gains taxes and potential Medicare or nursing home asset seizures. At North Shore Estate Planning, we understand the importance of maximizing gifts and preserving your legacy for your loved ones.
We pride ourselves on our attention to detail and our commitment to client satisfaction. With numerous awards and a proven track record in handling highly complicated estates in the North Shore, we are the firm you can rely on. We offer free consultations to discuss your unique needs and goals. Contact our attorneys at 847-464-9825 or schedule an appointment online.
How Does an Estate Plan Protect Your Assets?
An estate plan is a powerful tool for protecting your most valuable and complicated assets, including:
- Investments
- Multiple properties
- Commercial real estate
- Businesses
- Valuable personal property, including collections
For many people, writing a will does not go far enough in wealth preservation. Setting up a trust can deliver more effective protection and control over these and other sophisticated assets. A well-crafted trust accomplishes multiple goals, including:
- Probate avoidance: By bypassing probate court, your assets transfer seamlessly to beneficiaries.
- Tax efficiency: Trusts minimize tax liabilities, preserving more for your loved ones.
- Asset control: Specify how trustees must handle assets, preventing misuse, waste or unintended consequences.
While trusts are common, they are not the only tool available to people with complex estates and assets; there are many other strategies available. Thoughtful, individualized planning can help you find the right plan to preserve your property and provide for your loved ones for years to come.
Build a Legacy that Endures for Generations
Our award-winning asset protection lawyers have extensive experience and skills in managing highly complicated estates, and you can trust us to protect your wealth and secure your legacy. Call our team at 847-464-9825 or send us a message to get started.