Revocable Living Trusts

Lisle Revocable Living Trust Lawyer

As an estate planning attorney, Carol A. Nolan has helped many clients set up living trusts to manage assets for the benefit of themselves and their families.

A revocable living trust provides a good solution for seniors and other clients who want to avoid probate, record estate instructions for loved ones, and plan for Medicaid. A living trust usually names the client as the beneficiary. The client can name themselves as the trustee, the one who makes decisions regarding the assets in trust. As a Naperville trustee attorney, Ms. Nolan has significant experience assisting clients in these matters.

A living trust may include provisions defining how someone will be determined to be incompetent. The power to declare the client mentally incompetent can be given to a spouse and/or children. This places control of the incompetence decision firmly in the hands of the family. The probate court is not involved.

Another provision of a living trust then designates a successor trustee, who will make decisions for the estate should the client become mentally disabled. Again, this is entirely determined by the document and is beyond the reach of Illinois probate court.

Living Trusts Can Be Revoked

However, the trust can prevent the client from revoking or amending the trust if they are deemed incompetent.

Living Trusts Only Control Property

A power of attorney for healthcare or a guardianship of the person is required for healthcare and personal decisions. A will or living will is required to record decisions outside the realm of personal property and financial assets.

Unlike guardianship, the actions of a trustee appointed by a living trust are not subject to court oversight. A trustee can abuse or neglect their power.

Flat Fees — Contact a Naperville Trustee Lawyer

Carol Nolan handles revocable living trusts on a flat fee basis. To develop a living trust that addresses your family's needs, call Carol at 630-668-6600 or contact us online to arrange a consultation.