Trust Planning: Hire an Expert to Protect What Matters

Build a Trust That Protects What You Value Most

Avoid probate, minimize taxes, and safeguard your legacy.

Serving clients throughout the Chicago area

Palley Law Office offers one-on-one planning sessions with an attorney at no charge

What a Trust Is and Why It Matters

A trust is a legal arrangement that lets you set aside assets—like money, property, or investments—for someone else’s benefit. Instead of going through the public court process (known as probate), a trust allows those assets to be managed and passed on privately and according to your instructions.

Icon of a legal document representing the functions of a will

Why Choose a Trust?

A trust offers advantages that go beyond a simple will:

Allows for greater control over how and when assets are distributed
Can reduce or eliminate estate taxes
Avoids probate, saving time and legal fees
Offers privacy, unlike a public will
Provides ongoing management in case of incapacity

Types of Trusts I Handle

Revocable Living Trusts – flexible, changeable, and ideal for most estate plans
Irrevocable Trusts – for asset protection and tax benefits
Special Needs Trusts – care and support without risking government benefits
Charitable Trusts – giving back in a structured, tax-efficient way

My Role as Your Attorney

I provide clear, personalized guidance to help you decide what kind of trust is best for your circumstances. I take care of the paperwork, ensure the trust is legally sound, and advise on how to fund it properly so it works as intended.

Wills vs. Trusts

A will is used to transfer probate assets to beneficiaries at death. Property disposed of through your will is distributed directly to beneficiaries as directed in your will after going through probate.

Trusts are arrangements by which a trustee holds legal title to trust property and manages the assets for the benefit of one or more beneficiaries.

Example: A parent might provide that life insurance proceeds pass to a trust fund for the benefit of minor children. The trustee manages the fund for the children’s benefit until they reach the age specified in the trust, at which point the principal and any accrued interest is distributed to them.

Trusts: More Than Just Avoiding Probate

Trusts aren’t just for the wealthy. They are practical tools for families who want to:

Avoid the time and expense of probate
Provide for minor children or dependents
Plan for incapacity with a successor trustee
Set conditions on inheritances
Maintain privacy for their estate
Reduce the chance of family disputes

For a deeper understanding of when a trust might be appropriate for your estate plan, read my recent blog post: Trusts Demystified: A Bold Step Toward Better Planning.

Tailored Legal Support

Every family has its own priorities—whether it’s caring for a loved one, preserving a family home, or supporting a charitable cause. At Palley Law Office, I help you create a trust that reflects your values and supports your legacy.

Ready to Discuss a Trust?

The best time to plan is before there’s a crisis. Let’s talk about your options now, so you can move forward with confidence.

Palley Law Office offers one-on-one planning sessions with an attorney at no charge.

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Trusts FAQs

A trust is a legal arrangement that lets you transfer assets to a trustee to manage on behalf of your beneficiaries. It can take effect during your lifetime or after your death.

A will only goes into effect after death and must go through probate. A trust can manage assets during your lifetime and often avoids probate altogether.

Not necessarily — but if you want privacy, to avoid probate, or to provide structured support for a loved one, a trust might be beneficial regardless of estate size.

It’s a flexible trust you can change or cancel during your lifetime. After your death, it becomes irrevocable and distributes assets according to your terms.

For a quick summary of living trusts and their pros and cons, read my recent blogpost What Is a Living Trust, and Should You Have One

You can serve as your own trustee while alive. Afterward, you can appoint a family member, friend, or professional fiduciary to carry out your wishes.

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Considering a Will or Need Help with Probate?

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