Ensuring Your Final Wishes Are Implemented
At The Payne Law Office, Chartered, we work closely with individuals and families in Schaumburg and throughout Illinois who want to establish and implement effective plans for the distribution of assets or the care of minor children upon death. Our lawyers give their undivided attention to all your legal matters, providing knowledgeable counsel with a high level of personal service. We understand the stress and anxiety that comes with uncertainty, and are dedicated to providing prompt responses to your emails or phone calls.
Our Estate Planning Practice
We offer full range of services to individuals who want an estate plan in place to ensure the orderly distribution of their assets in the event of death. When you come to us for estate planning counsel, we begin the process by learning as much as we can about you and your situation, including your finances and your estate planning goals.
Once we have a clear picture of your circumstances and your objectives, we will carefully explain the different strategies available to you, from the use of a will or trust, to the retitling of assets or the use of lifetime gifts. Based on our understanding of your situation, we will make a recommendation regarding the best approach to take, so that you can minimize the tax consequences or the delay in the distribution of your estate.
We will prepare all the documents required to put your estate plan in place, including:
- Wills, used for asset protection and the orderly distribution of property and other assets
- Trusts, including living trusts or testamentary trusts, revocable or irrevocable trusts and special needs trusts, including irrevocable life insurance trusts (commonly known as “ILIT”)
- Living wills that provide instructions regarding the use of life support or extraordinary means to keep you alive
- General or specific powers of attorney for property (statutory and nonstatutory), which give an individual you have designated the authority to act on your behalf regarding business and/or legal matters
- Powers of attorney for health care (statutory and nonstatutory), sometimes known as medical or health care directives that give an individual you chose the authority to make health care decisions for you, should you become incapacitated
- Medicaid eligibility
- Estate plans both with and without Generation-Skipping Transfer tax planning (commonly known as “GST” planning)
- Durable powers of attorney
We can help you plan appropriately to protect your assets, should you or your spouse require long-term medical or nursing home care. We will also advise you regarding HIPAA requirements, as well the release of medical information.
In some situations, providing for the needs of a disabled child, spouse or elderly parent is a main concern, and we can help you achieve your goals by drafting appropriate special needs trusts, testamentary trusts or irrevocable trusts. We can assist you or your loved one qualify for Medicaid so that existing assets are not dissipated paying for long-term care that can be funded by Medicaid, while preserving those assets for things Medicaid does not cover, and for your beneficiaries, to the fullest extent of the law.
Preparing a proper estate plan can help you avoid probate problems and spell out your end-of-life decisions if you become injured or incapacitated.
At The Payne Law Office, Chartered, we will create an estate plan that fits your specific needs.
Our Probate Practice
We work with executors, administrators, personal representatives and heirs, helping you take the necessary action to successfully close the estate of a loved one. We will also handle any probate litigation that may arise, including will contests.
Contact The Payne Law Office, Chartered
To set up a consultation, contact us online today or call us at 773-897-5803 or toll free at 888-827-3077 for an appointment. Our offices are located on the near Northwest side of Schaumburg, with easy access to the Daley Center, as well as the Skokie, Rolling Meadows and Maywood courthouses. We accept Visa, Mastercard, Discover and American Express.
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