Protecting What Matters Most
Estate Planning Attorney in Lake County
If you are looking for a trust lawyer to handle your important and sensitive family trust matters in Lake County, look no further than The Law Offices of Steven H. Peck Ltd. For 28 years, Steven H. Peck has been serving Lake County and beyond with a range of trust-related needs, many of which are listed below for you to get a better understanding of.
If you are ready to take the next step and get your legal issues addressed, contact us now for a complimentary estate planning consultation, where we will be able to discuss the unique factors that make your family special and gives us a better idea of the work that we will be able to do together. Our initial consultation is free of charge and we can accommodate both in-person and Zoom meetings.
28 Years Of Legal Experience
Representing Clients Like You
The Law Offices of Steven H. Peck Ltd., assist clients with estate planning, estate administration, and elder law/Medicaid planning. With his principal office located in Riverwoods, IL, and a branch office located in Uniondale, NY, Attorney Peck helps families and individuals throughout Illinois and New York with all aspects of estate planning including:
A living trust is a legal document that provides clear and comprehensive guidelines on how assets will be managed for a beneficiary by a designated trustee. What makes this type of trust unique is that the grantor of the trust is still alive when these actions are put into motion. One of the significant benefits of a trust over a will is that a trust can avoid a lengthy and complicated probate process, whereas a will must be reviewed through probate before it can be executed.
An asset Protection Trust (ATP) is a financial planning trust that is designed to take control of an individual’s assets with the express intent of shielding these assets from creditors. These types of trusts are extremely complicated and require ongoing financial advising and legal guidance in order to ensure that they are executed and maintained properly. If you are a business owner or professional, it makes sense to separate and protect your private assets so that you can do business without fear of significant personal impacts.
If you have a child or a loved one with special needs and you would like to set up a trust to ensure their long-term wellbeing, then developing and implementing a special needs trust is one of the most secure legal tools that you can use. When executed properly, a special needs trust can provide support to your loved one without interfering with other benefits such as social security, Medicaid, or other government programs. However, there are many different things that will need to be considered before you make a final decision and finalize this trust, all of which our law firm will be happy to guide you through.
Many Americans are strong advocates for abolishing the estate tax, but for now, the estate tax remains. Fortunately, there are a variety of useful exemptions that we will work with you to take advantage of and retain your hard-earned wealth for your family. If you want to set your relatives up with financial security and would like to avoid as much tax burden in the process as possible, we will be happy to work with you to identify all legal avenues available to limit your family’s tax obligations when transferring your estate.
The things that you leave behind for your family are your legacy, and it is important that you have a say in how these things benefit your loved ones once you are no longer with them to make these decisions. We will work with you to leave behind a clear plan on how you wish your legacy to benefit your family, as well as provide guidelines for the care that you would like to receive through your own trust if you so require it during your retirement.
Charitable giving through a trust is a great way to help those in need once you are no longer around, and enjoy the additional benefit of a reduced tax burden because of the nature of these transactions. In addition, charitable giving while you are alive is a great way to see your money go to causes that you care about, and not just to the U.S. Treasury. However, the courts will scrutinize these trust arrangements to ensure that each tax avoidance leveraged through this trust is done so legitimately.
Transferring your wealth or assets often involves a complicated process of going through probate, and undertaking this process alone can cause frustrating and expensive complications before you the transfer is approved and finalized. We will help you identify the most effective ways to transfer your wealth while taking into account things like taxes and disputes.
Nobody likes to plan for the possibility of life-changing events in the future, but it is an important step to take to ensure that your assets are protected and that your estate is handled according to your wishes. We will help you to create legal guidelines and clear plans for any event where you are left incapacitated and unable to control these decisions on your own, even while you are alive.
If you have pets that you love and care for and you want to ensure that they still have the same love and support in the event that you are no longer there to provide for them, then we will be happy to work with you in order to include your beloved furry family members in a trust that provides them with clear guidelines and the financial means to follow these guidelines. We understand the importance of a pet in our lives and will be proud to work with you in order to give them what they deserve.
With over 28 years of experience in the fields of estate and tax planning, Attorney Peck is a highly-regarded estate planning lawyer well-versed in probate rules and capable of providing you with the expert consulting you need in order to make the most of your assets and ensure that your wishes are fulfilled. Our initial consultation is complimentary and can be in person or virtually through Zoom.