Trusts

Experienced Illinois Estate Planning Lawyer

Creating Trusts to Serve Your Family's Needs

A trust is an important tool for anyone who wants to protect and manage their assets for future generations or other designated beneficiaries. It can be the principle component of your overall estate planning package, or serve as a separate tool when preparing for nursing home expenses and other elderly care needs.

The benefits of setting up a trust include:

• Providing a secure way to protect and preserve assets for future generations
• Allowing you to keep your monetary funds and other assets while avoiding estate taxes
• Allowing you to set aside funds for a disabled child without compromising government benefits
• Avoiding the cost, time and hassle of probate court

To learn more about the benefits of trusts and whether establishing one is right for you, call Carol A. Nolan, Attorney at Law at 630-668-6600. From her offices in Wheaton, Ms. Nolan serves clients in DuPage County, Will County, Kane County, Cook County, and throughout Illinois.

Types of Trusts

Not all trusts are alike. Each one serves a unique purpose and helps clients accomplish different goals. Some examples of trusts include:

• Revocable living trust: allow the creator to make decisions regarding the management and distribution of assets, while avoiding probate
• Irrevocable trust: safeguard assets from demanding and financially abusive family members while also minimizing estate taxes and avoiding probate
• Third-party special needs trust: provides funds for disabled children while protecting their benefit eligibility
• OBRA special needs trust: sets aside funds so clients with substantial assets can qualify for Medicaid
• Children's trust: allows parents to set aside money for their children and designate when the children can access it; often incorporated into revocable living trusts
• Credit shelter trust (AB trust): protects assets from the estate tax upon the creator's death

The trust you set up depends upon a variety of factors, including your assets, your beneficiaries and your life circumstances. Carol A. Nolan has devoted her entire career to estate planning. She can effectively assist you in establishing a trust that meets your financial needs.

Contact Carol A. Nolan, Attorney at Law

At the law firm of Carol A. Nolan, Attorney at Law, clients benefit from personalized attention and one-on-one discussions with an experienced lawyer. If you are interested in setting up a trust, contact the firm online or call 630-668-6600.