Trusts, Trust Administration, And Living Trusts
Families and individuals wanting to plan for their future consistently turn to Madden Law LLC for reliable guidance on creating trusts, trust administration, and living trusts. With more than two decades of experience, our firm has helped clients plan for the future with care and attention to detail. Our founder, David Madden, is a trusted member of the legal community and a member of the American Bar Association, the Illinois State Bar Association, and the Chicago Bar Association. As such, we know how to help those in need of trusted legal guidance. We offer no-obligation consultations, so reach out today to speak with us about your trust needs at no cost to you.
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Trusts Can Help Simplify Estate Planning
Trusts, trust administration, and living trusts are all parts of estate planning that help individuals and families manage their assets and control how those assets are distributed after they’re gone. Of all the types of trusts available, a revocable living trust is one of the most commonly used options. It allows the person creating the trust (the grantor) to maintain control over their assets, with the option to update or revoke the trust at any time. After their passing, the trust outlines how those assets should be distributed, often bypassing probate.
The administration process begins when the grantor passes away or becomes incapacitated. At that point, the trustee—whether an individual or an institution—becomes responsible for managing the trust’s property, paying off debts, and distributing assets to beneficiaries according to the trust’s terms. This process must be handled carefully and can involve working with banks, accountants, and legal professionals.
Using a trust, especially a revocable living trust, can reduce delays, minimize court involvement, and maintain privacy when distributing assets. Many clients also use asset protection trusts to shield their property from certain legal or financial risks, although those trusts are often irrevocable and have specific rules that apply. Trusts can be especially useful when planning for children, blended families, or large estates. They offer more control than a standard will and can help prevent disputes over inheritance.
We Help Clients With All Their Trust Needs
Our team works with individuals and families to create effective estate plans, offering support for every stage of the process, from preparing trust documents to advising trustees on their legal responsibilities. By offering a wide range of estate planning tools, we can assist clients with their specific needs, whether they need a revocable living trust, a long-term asset protection trust, or guidance on how to manage trustee responsibilities effectively. This comprehensive approach helps our clients gain peace of mind and maintain control over their legacy. Our ultimate goal is to help you make sure you maintain control of your assets throughout your life—and that they’re distributed according to your desires after you’re gone.
Start Planning For Your Future Today
If you’re wanting to look into trusts, trust administration, and living trusts, now is the time to start building your estate plan. Madden Law LLC is here to help you choose the right options for you and make the process go as smoothly as possible. Contact us today to schedule a consultation and let us help you protect your estate and assets.