Do You Need a Trust to Avoid Probate in Illinois?

One of the most common estate planning questions is whether a trust is necessary.

 

For many Illinois families, a trust can provide significant benefits beyond simply distributing assets.

A revocable living trust is a legal tool that allows assets to transfer outside of probate.

 

Trusts may help:

• Avoid probate
• Maintain privacy
• Reduce delays
• Provide incapacity planning
• Simplify administration for loved ones

Trusts are often beneficial for people who:

• Own real estate
• Have children
• Own rental property
• Want to avoid probate
• Value privacy
• Have blended family concerns

Some assets may avoid probate even without a trust.

Examples include:

• Retirement accounts with beneficiaries
• Life insurance
• Payable-on-death bank accounts
• Transfer-on-death investment accounts

Not every person needs a trust.

 

However, many Illinois families discover that a trust creates a smoother process after death.

At JPR Law, LLC, we help clients determine whether a trust-based estate plan fits their goals.

 

Schedule a virtual consultation with  Julie A. Kolodziej at JPR Law, LLC to discuss your estate planning, probate, or trust administration needs from the comfort of your couch.

 

About Julie A. Kolodziej

 

Julie A. Kolodziej is the founder of JPR Law, LLC, a virtual Illinois estate planning and estate administration law firm serving clients throughout Illinois through flexible Zoom-based consultations. JPR Law focuses on estate planning, trusts, probate, trust administration and related family planning matters. Learn More About Julie A. Kolodziej