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Revocable Trusts

Trusts provide a viable way for individuals to pass on their assets after their death. One of the decisions involved in creating a trust is deciding whether a revocable, or living, trust is the right option for you. Revocable trusts are legal documents that are drafted while a grantor is still alive and can be altered over time if needed. Many individuals find that this is the best way to distribute their assets after death.

Benefits of a Revocable Trust

A living, revocable trust provides a number of benefits, including:

  • Avoids probate, meaning faster distribution of assets to your beneficiaries.
  • Potential financial savings.
  • While the provisions of a will are made public after death, a living trust is kept secret, ensuring more privacy.
  • You have the ability to appoint someone to take over the distribution over your assets should you become incapacitated.
  • You are able to change the trust as needed.

A trust is often one of the most important documents a person can draft to ensure that their beneficiaries are given the proper assets after their death. Whether you choose to create a revocable trust or another type of trust, drafting such essential documents can be difficult and time-consuming. Having the help of an experienced attorney throughout the process of writing a trust can ease the process and be an invaluable asset.

Contact a Trust Attorney in Chicago

If you or a loved one is considering beginning the process of writing a trust, the Chicago legal team at Peck Ritchey, LLC, is ready to give you the legal advice you need. Call our offices today at (312) 201-0900 to learn more.

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I solicited Peck Ritchey, LLC for assistance with a living trust for which I became the beneficiary. I needed assistance with understanding the details of how it all worked. However, I was especially concerned because there were threats of allegations made by family members and a lawsuit was filed against me. I needed a solid professional who had my best interests in mind. Peter Brady took my case and he managed it flawlessly. He explained everything in a way I could understand, he knew the law inside and out, he was always available to answer questions, and even offer support when things seemed like they could become extremely problematic. In addition to this, he had a plan. He navigated the course as if he already knew the next move by the opposing attorney. He made me feel like everything was in control and that’s because he knew exactly what he was doing and he consulted with me about everything. We ended up settling out of court and ultimately the court officially dismissed the lawsuit. I honestly believe if it wasn’t for Peter and his expertise this could have gone in an entirely different direction. Peter did a stellar job and I couldn’t be more pleased and impressed with his performance.

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