Effective Estate Planning for Individuals and Businesses
Leave no detail undecided. Whether motivated by concern for your property, the financial security of your family, or the future of your family business upon your death, the Estate Planning attorneys at McKenna Storer can devise the estate plan that is right for you and your beneficiaries. Rely on us for comprehensive legal advice on estate planning and estate administration support to protect your interests and give you peace of mind.
Our Estate Planning Attorneys are dedicated to delivering the highest level of service to each client in all aspects of the estate planning process. From the simple estate plan of an individual to succession planning with the owner of a closely-held business, we work closely with you, to help define your goals and draft a testamentary document that captures those intentions.
For Northern Illinois residents, view our Estate Planning-Woodstock IL page.
Our goal is to help you make informed decisions that mitigate your risk and keep your tax exposure to a minimum. This is accomplished through a. myriad of options including:
- Powers of attorney
- Revocable or “living” trusts
- Irrevocable trusts
- Marital Trusts
- Charitable trusts
- Family Limited Partnerships
- Estate, gift and generation skipping transfer tax planning
- Illinois new Transfer on Death instruments
- Special Needs Trusts for disabled children and adults
- Educational trusts
Estate Planning Attorneys for Individuals and Businesses
The clients in our portfolio are diverse, giving us a wealth of knowledge and unique experience to draw on as we develop the perfect will, trust and other necessary documents for your goals.
Estate planning services provided by our lawyers are all-encompassing; from establishing your customized estate plan to probate administration and distribution of business assets, we are here for you from first draft to final administration.
Individual Estate Planning
The estate planning needs from one client to the next are as unique as their assets. No two individuals are alike. McKenna Storer provides you with dedicated attention. We take care to thoroughly understand your desires and vision for your assets. Only after our team has a clear understanding of your goals, do we move forward with drafting your estate plan. Focusing on your wishes, we outline a variety of legal options that suit your desires, objectives, and budget.
Some of our clients include:
- Families: Establish complete estate documents and regularly review them with our team to ensure they continue to reflect your best interests and wishes
- High-Net-Worth Individuals: Protect your loved ones by minimizing the taxes they incur from income tax, estate tax or generation-skipping taxes
- Personal Representatives: Administration assistance for wills and trusts
- Trustees: Receive planning guidance that considers and clarifies complex relationships and responsibilities, from trustees to beneficiaries, and how these will impact assets
- Newlyweds: Protect your current assets and future earnings from divorce or death with pre and post-nuptial agreements
- Surrogates: Reduce risk of painful litigation with estate planning attorneys who will create a detailed will and trust to address this unique relationship.
Estate Planning for Business and Succession Planning
Business Estate Planning is an important step often overlooked by business owners. If you own a business, having a succession plan in place is critical to the future of your business. Whether you intend to have a family member take over or sell your interest to a business partner, the McKenna Storer estate planning attorneys can provide you with legal advice and assistance in drafting the necessary documents to ensure your business continues to prosper, no matter what the future holds. From tax implications and compliance to succession planning, our attorneys have the expertise and business acumen to advise you on tough, forward-thinking decisions.
Our commercial clients include:
- Corporate Executors: Establish a plan that takes your industry regulations, corporate structure and investors into account
- Family Businesses: Limit the burden of hefty taxes and maintain ownership control for succeeding generations
- Large Corporations: Get insightful guidance for complex estates to limit tax liabilities and protect company assets
- Other Fiduciaries: No matter the property or power with which you have been entrusted, we can outline the terms necessary for protection
Establish Your Charitable Lead Trust with Our Estate Planning Attorneys
Consider the tax benefits and future of your property in a new light by establishing a charitable lead trust for your estate. This choice allows property to be transferred to a trust that pays interest income to your designated charitable organization for a defined period of time. Once the stipulated period has passed, the remaining interest will go back to the grantor or be passed on to a non-charitable beneficiary.
If you have property that could be a good option for a charitable lead trust, the McKenna Storer estate planning attorneys will outline the advantages of this option and determine the best terms for your needs. The criteria necessary for a valid charitable lead trust and your best interests will be clearly presented for consideration. Our attorneys have experience setting up these trusts for a wide spectrum of property types, clients, and in a range of charitable organizations.
Work with an Estate Planning Attorney Backed By Decades of Experience
Anticipate and arrange all the fine details of your estate plan so that your loved ones or business partners aren’t left picking up the pieces. The future is uncertain, but with careful planning and guidance from the experienced team at McKenna Storer, you can ensure that your interests and intentions will be fulfilled. Don’t wait to protect your assets, family and hard work with sound estate planning advice.