Clients usually seek estate planning at times of change – such as entering a new relationship, expecting a child, retiring, or suffering the loss of a loved one. We offer estate planning advice tailored to our clients’ needs. We help our clients navigate uncertainty in the future, difficult family dynamics, and state and federal tax laws to transfer assets both during life and at death. When existing estate planning documents become outdated or no longer accomplish their intended purposes, we help clients make changes necessary to get them back on track.
Exempt organizations have unique concerns in state and federal tax laws. We represent new organizations in becoming tax-exempt. We help established organizations understand their requirements for managing funds under the Uniform Prudent Management of Institutional Funds Act. We represent organizations and donors in creating charitable gift agreements, and we advise board members concerned with following the donors’ intent under charitable gift agreements. We assist exempt organizations in obtaining trust agreements and accounts of trusts when they are named as a beneficiary to help track planned gifts outside of their control. And we help members of the public when filing complaints against exempt organizations before the Illinois Attorney General’s Office – helping clients clarify their concerns and organizing their complaints to easily identify the most serious allegations.
Estate, Trust, & Guardianship Administration
We help executors, trustees, and guardians efficiently carry out their fiduciary duties in the administration of estates, trusts, and guardianships. Our advice includes helping fiduciaries understand and comply with relevant Illinois laws and the terms of any controlling estate planning documents as well as advising about accounting and tax issues related to the administration process.
We represent owners of small and closely-held businesses to structure new business entities and transfer ownership of existing businesses. We advise on liability protections and tax consequences on various types of business entities. We help owners of closely-held businesses transfer their business interest to family members and other beneficiaries. We also represent executors and trustees in negotiating the sale of interests in a closely-held business after an owner dies.
We represent clients in suits involving wills, trusts, estates, guardianships, powers of attorney, and closely-held corporations including representing: parties in litigation focused on the terms and enforceability of trusts and wills; beneficiaries and fiduciaries in litigation involving breach of fiduciary claims during the administration of trusts, estates, guardianships, and powers of attorney; parties in contested guardianships; and parties in disputes between minority owners, majority owners, and management of closely-held businesses.
Pre-marital and Post-marital Agreements
We represent couples when creating pre-marital and post-marital agreements. Creating these agreements allows couples to have an open conversation about how they will manage their money during the marriage and divide their assets if they divorce.