Fees depend on the nature of the engagement. There is a $350 charge for the initial consultation, and if Palley Law Office agrees to represent you the initial consultation fee will be applied as a credit against the fee for services. Services are reasonably priced, and most are provided on a flat fee basis.
Palley Law Office is located at 53 W. Jackson Blvd (Jackson and Dearborn) in Chicago. It is close to all CTA and Metra rail lines.
Metered street parking is available, or if you prefer, the nearest parking garage is at 318 S. Federal St.
Yes. With the exception of estates that qualify under the small estate affidavit rules, Illinois probate courts require that you be represented by an attorney.
Good estate planning seeks to minimize the number of assets having to go through probate. As part of its engagement with you, Palley Law Office will look at the right mix of estate planning tools to minimize probate and the associated costs.
Estate planning is the process of preparing written, legally valid guidance for your family, executors, friends, and others for what comes after death or when you're no longer able to handle your affairs or tell others what you want.
No, and because of that the need for estate plans for unmarried couples, gay or straight, is acute. Without a will leaving assets to your partner, and absent marriage or civil union, your surviving partner receives nothing. Important to know is that, under Illinois law, couples who in the past formed registered domestic partnerships are not considered in a civil union or marriage. Palley Law Office urges unmarried couples to seek its assistance in developing an estate plan at the earliest possible date.
Palley Law Office brings the knowledge and experience to guide you through the law of property rights, taxes, wills, probate, and trusts to assure that your estate planning documents are correctly prepared and accurately reflect your desires. Together, you and I will address not only the will or trust arrangement best suited for your circumstances, but plan as well for property that passes outside of your will or trust, addressing relevant legal, tax, and personal issues.
Think about how you want to provide for family members and friends, and what you seek to accomplish in your estate plan. Palley Law Office will provide you with a questionnaire to help you organize your thoughts as well as financial information around your assets, liabilities, and how title is held for property such as real estate.
Online will preparation services serve a limited universe of circumstances, and everybody's situation is different. Online fill-in-the-blank websites are not licensed attorneys and do not practice law. Only a lawyer's counsel can adequately address your particular needs. Internet-based services provide a false sense of security by failing to address important issues such as the disposition of assets that by law do not pass through the will; contingencies created by births, deaths, marriage, and divorce; special needs planning; same sex couples and other relationships; and preparation for estate administration. Failure to account for issues like these and the myriad other arcane laws around wills and trusts can both defeat your wishes and lead to expensive litigation and ill-will among those you leave behind.
You've worked a lifetime to accumulate assets. Consult with a lawyer to plan the disposition of those assets.
Generally, you can dispose of your property in your will as you like. However, it is important to know, for purposes of estate planning, that property controlled by beneficiary designations or titled with rights of survivorship does not get distributed through your will, but instead passes to another person automatically on death. Because of this, estate planning should include not only a will, but careful review of how your real estate is titled and how beneficiaries are designated for things like life insurance policies, retirement accounts, and bank accounts.
A trust is property held by a trustee for the benefit of one or more beneficiaries of the trust. For example, many young couples name a trustee in their wills to manage a trust for the benefit of their minor children in case both parents die before the children come of age. Another common use of trusts is to establish a revocable living trust to help avoid probate. Under a revocable living trust, you transfer your property to the trust during your lifetime. Upon your death the property is distributed according to the terms of the trust rather than through a will that goes through probate.
You should have an estate planning attorney review your plan for possible updates. Because estate planning involves state law, there are often significant tax and non-tax reasons to update documents after a move.
Revocable trusts help you (1) avoid or minimize probate; (2) pass control over your assets seamlessly; and (3) more easily preserve privacy than a plan with only a will.
If the gross value of the estate is under $100,000 and there is no real estate, Palley Law Office can prepare a small estate affidavit for you to use in lieu of probate.
Copyright © 2024 Palley Law Office - All Rights Reserved. Please note that information provided on this website is for educational purposes only and is not intended to, nor should you infer it to, constitute legal advice. You should you not infer any attorney-client relationship until a letter of engagement is signed between us.
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