How to Hire An Estate Planning Attorney?

Wills & Trusts Attorney

Hiring an experienced wills and trusts attorney is important. Attorneys specialize in many different areas of law. Real estate attorneys navigate the real estate industry while civil litigation attorneys are experienced in civil litigation and trial work. A wills and trust attorney concentrates in assisting seniors, couples, and professionals plan their estates in ways that are practical. When I first started practicing wills & trusts, I drafted complex and complicated documents that clients could not understand. Quite frankly, the industry standard in wills & trusts is to develop complex and complicated documents that clients do not understand. In reality, this is a major problem because it ignores the reality that Client's beneficiaries will not understand these documents and often times go without legal counsel or go to legal counsel that do not specialize in estates & trusts.

Thus, an experienced wills and trusts attorney understands that KISS (keeping it simple stupid) makes sense for estate planning. Second, experienced estate planning attorneys understand how tax law affect your goals. Many estate planning and non-estate planning attorneys lack a tax background and therefore, do not understand when a simple gift to your children can have tremendous tax consequences. In estate and gift taxation, a mistake costs a 50 percent tax burden, which is excessive.

Fourth, experienced estate planning attorneys understand the unique issues facing seniors such as how most seniors do not want to loose control over their money. For example, many estate planning attorneys will recommend legal solutions that are complex and make sense from a legal standpoint, but do not understand many other factors contribute to a person or family make decisions. Experienced estate planning attorneys at least are aware of the inherit conflicts that surround estate planning, which cause families to be destroyed and legal fees and costs to be excessive. Therefore, experienced estate planning attorneys are better equipped to provide you good results and assist you to minimize family conflicts or feuds.

Sean L. Robertson, Attorney at Law
Robertson Law Group, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 377 2480 f) 312 377 2480
e) RobertsonLawGroup@gmail.com

Serving Cook County, Will County, & DuPage County

What is Probate & What is the Probate Process?

Probate

Probate is a court that determines who is the rightful owner of a deceased person. Typically, a case gets to probate court if someone dies without a will or a person dies with a will. If you pass away without a will, the State of Illinois has a statute called "intestate succession". Intestate succession is a statute that says that the surviving spouse gets 1/2 of the deceased person's assets and the surviving children get 1/2 of the assets. If the spouse is deceased, than the surviving children split the inheritance equally.

Will Must Be Probated

A will is a way of distributing assets upon death. It is simple and inexpensive. One misunderstood thing is a will must undergo probate court.

Probate Court Process: Circuit Court of Cook County, Circuit Court DuPage County, & Circuit Court of Will County

Essentially, one person mails out a petition requesting the probate court to grant them the right to administer the deceased person's estate. The notice must go out at least 30 days in advance of the court hearing or get a signed waiver from all the interested heirs that states that they do not oppose the appointment of the person looking to be independent executor. Typically, it takes 45 to 60 days to open up a probate estate. Again, you must mail out a 30 day notice and it takes awhile for the court to schedule a first court hearing. Upon the first court hearing (if not contested), the court issues a "court order", which means that the court grants authority to the person seeking to become the independent administrator.

Independent Administrator or Executor-Probate in Cook, Will, & DuPage County

An independent administrator or executor are the same person. They are responsible for paying any debts (of deceased), publishing a notice to creditors (in newspaper), working with the attorney, and distributing all of the assets to the appropriate beneficiaries. Typically, a big job of the independent administrator is selling real estate and working with a realtor.

An independent administrator has broad powers such as transferring and selling real estate, negotiating with mortgage companies, and paying debts from the decedent's checking and savings accounts.

Final Closing of Decedent's Probate Estate

Within 14 months after opening a decedent's probate estate, the independent executor must submit a final accounting. An accounting should detail the expenses and have signed releases from the heirs stating that they received their inheritance. You also must present proof that you allowed creditors to file any claims within 6 months after death (or after publishing notice to creditors). The surety bond must be paid as well because almost all estates are required to pay annual premiums for surety bonds. A surety bond is a form of insurance in case the independent administrator misappropriates the decedent's estate funds. With all of these things being complete, it is time for the independent administrator to finalize their accounting and get released from additional job duties.

Wills, Trusts, Guardianship, Probate, Estate Planning, & Estate & Gift Tax Planning

For probate, guardianship, wills, living trusts, estate planning, estate and gift tax planning, business entity selection, and asset protection legal advice, Sean L. Robertson is happy to assist you. Sean can be reached at 312 498 6080.

We have two locations:
1. Chicago (Southside)
Robertson Law Group, P.C.
122 East 35th Street, Suite 50, Chicago, Illinois 60616
w) 312 498 6080 f) 312 377 2480
This Office serves South Loop, Downtown Chicago, Southside of Chicago, & West Loop areas of Chicago. We can travel to your office, home, or business location.

2. Chicago Ridge or Southwest Suburbs Location
Robertson Law Group, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 498 6080
e) RobertsonLawGroup@gmail.com

This Office serves Will County, Southwest Cook County, Chicago Ridge, Worth, Palos, Orland Park, Oak Lawn, New Lenox, Frankfort, Mokena, Joliet, DuPage County & other surrounding communities.

Key Words: Probate, Independent Administrator, Wills, Living Trusts, Trusts, Estates & Trusts, Executor, Intestate Succession, Circuit Court of DuPage County, Circuit Court of Will County, & Circuit Court of Cook County.

Breach of Contract, Litigation, Commercial Litigation

Breach of Contract, Civil Litigation, & Commercial Litigation

A breach of contract case is when two parties enter into a contract and one party does not fulfill their obligation under the contract. Often times, the non-breaching party considers suing or filing a civil suit against the breaching party. When filing a breach of contract action, the breaching party often hires an attorney to draft a lawsuit or a complaint. The attorney files a copy of the complaint with the Circuit Court such as Cook County Circuit Court, Will County Circuit Court, or DuPage County Circuit Court and pays a filing fee. Then, the attorney either has the Sheriff's Office or a Private Process Server personally deliver a copy of the lawsuit or complaint with the Defendant or alleged breaching party. The Defendant or alleged breaching party has 30 days to file an Answer. An answer is a Defendant's response to the allegations set forth in the lawsuit or complaint. Typically, a Defendant will deny the allegations set forth in the Plaintiff's complaint.

Civil Litigation, Commercial Litigation, Court Room, Civil Procedure, & Trial

Civil litigation is when two individuals sue one another as described above. Commercial litigation is when a business is either sued or being sued. For example, a real estate developer sues a private homeowner for failing to pay for landscaping services. Often times, a plaintiff is surprised when the Defendant counter sues the Plaintiff. A counter suit is when the Defendant sues or files a complaint against the Plaintiff. For example, in the above example, a home owner is sued by a landscape contractor for failure to pay for landscaping services. Many times a family or person fails to pay a contractor because they were not satisifed with the services of the contractor. In the above example, the home owner sues the contractor for negligence. Negligence is a claim against the contractor for failure to construct a patio or porch according to the industry standard. Thus, the homeowner paid another contractor to finish the job of the 1st contractor. A court room is where this litigation occurs. Often times, there is what is called a "status date", which means that it is the Judge's intent to hear the status of the case and thrive to move the case to completion. Civil procedure is the court has certain rules and procedures that must be followed. Rules and procedures are very important and attorneys typically are aware of these rules or know how to research the appropriate rules or manipulate these rules. A trial is the final stage in litigation where two parties present their evidence, witnesses, and facts and explain how the law is applicable to their situation.

Offices in Chicago and Chicago Ridge:

Chicago Office-Southside, South Loop, Downtown, & Northside of Chicago
Sean L. Robertson, Esq.
Robertson Law Group or formerly Law Office of Sean L. Robertson, P.C.
122 East 35th Street, Suite 50
Chicago, Illinois 60616
w) 312 498 6080 f) 312 377 2480
e) RobertsonLawGroup@gmail.com

Chicago Ridge Office-Chicago Ridge, Palos Hills, Palos Heights, Oak Lawn, Frankfort, New Lenox, Mokena, Evergreen Park, Worth, Joliet, Plainfield, Orland Park, & Will County

Sean L. Robertson, Esq.
Robertson Law Group, P.C., or formerly Law Office of Sean L. Robertson, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 498 6080 f) 312 377 2480
e) RobertsonLawGroup@gmail.com
www.RobertsonLawGroup.com/blog.htm

Key Words: Litigation, Civil Litigation, Breach of Contract, Answer, Complaint, Orland Park, Plaintiff, Defendant, Commercial Litigation Attorney, Civil Litigation Attorney, Foreclosure, Real Estate Litigation

What is an LLC or Limited Liability Corporation?

An Limited Liability Corporation is also known as a "LLC". An LLC is a hybrid between a corporation and partnership. Typically, a corporation has the benefit of limited liability protection. Thus, business owners can start a corporation and keep their personal assets seperate from their business assets. Limited liability protection is a huge benefit to business owners and one that the LLC gives you as business owners. In contrast, a partnership has not limited liability protection but gives you a great deal of flexibility in running the business. For example, a partner can own 10 percent of a partnership and get 20 percent of the profits as long as there is a legitimate business purpose. This flexibility allows business owners to be creative and match the business reality with the business deal. Hence, an LLC has incorporated the flexibility that partnership have with the benefit of limited liability protection unlike partnerships. Therefore, an LLC is a combination between a corporation and partnership. For tax purposes, the LLC features the flexibility that is offered by a partnership while maintaining the limited liability status of a corporation. In contrasts, corporations offer limited liability protection, but have a very rigid corporate structure. For example, a 20 percent shareholder of a corporation must take 20 percent of the profits and losses of the corporation. Furthermore, the corporation has double taxation unless it is classified as an S corporation. In most cases, small business owners are S corporations. An S corporation is an election that is granted by the Internal Revenue Service that enables an S corporation to be treated like individual tax payers without a corporation. Therefore, an S corporation is a pass through entity, which means that you are taxed as an individual taxpayer. Thus, your profits and losses depend on your itemized deductions, your gross income, and your losses among other things. For real estate investment purposes, an LLC is the favorite choice of real estate investors. LLCs are more costly to create, but their tax benefits made it worthwhile to set up.

For further information, on LLCs, S corporations, Trusts, Wills, and Civil Litigation, please call Sean Robertson with the Robertson Law Group, P.C. at 312 498 6080 or RobertsonLawGroup.com.

Robertson Law Group, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 498 6080 f) 312 377 2480
e) RobertsonLawGroup.com

Why Wills Are Worthless?

A question was asked to me yesterday while speaking at the Associated Business Network Breakfast meeting, "what is the difference between a will and trust?"

First, a will unlike a Revocable Living Trust or sometimes referred to as "Living Trust" or even "Trust" must go through probate court. Probate court is a court that determines who inherits your property. Second, a will is a written document that distributes your property upon your death. Unlike a will, a Living Trust is designed to work during your life. For example, many seniors are facing Strokes, Dementia, and Alzheimers and the risk of incapacity is a significant risk. Unlike a will, a Living Trust may have provisions, which avoid guardianship court by owning your property in a Living Trust. Thus, you will not personally own your property but your Living Trust will own your property. This simple difference avoids guardianship court and saves your loved ones a lot of costs and headaches associated with guardianship court. With a will, you can choose guardians but you must go through guardianship court. Guardianship court is a court that determines who is your guardian and supervises every dollar that is spent. Thus, you cannot spend any money without a court order. Third, a will is public information and must go through probate court where as a Living Trust is a private document and only the beneficiaries are entitled to know the details. Fourth, a will cannot reduce your estate tax liability. In contrast, a Living Trust is set up in a manner that minimizes your estate tax liability. Fifth, a Living Trust unlike a Will gives you options to impose limitations and strings on your loved one's inheritance. For example, a common concern among parents is having a minor child receive their inheritance when they are 18 years of age. With a Trust, you can allow your child to get part of their inheritance at age 25, 30 & 35. This protects the child from you and inexperience. Sixth, when you distribute property to your loved ones through a will, their inheritance is subject to their (your loved ones) creditors such as spouse, lawsuits, & collections. A Living Trust enables your beneficiaries to obtain spendthrift protection, which means that their inheritance is not subject to divorce, alimony, lawsuits, or any creditors.

In conclusion, a Living Trust is a very powerful tool. A will is literally worthless compared to a Living Trust. Words simply cannot express the power that Living Trust offer you unlike a will. Why do other attorneys create wills? Because these attorneys are not educated about estate planning and this is not their speciality. Thus, it is similar to a family doctor diagnosing and treating you for a heart condition. Attorneys understand wills a little bit but not much more than this. Many attorneys make a lot of money probating the wills they drafted during their life. I encourage you to research Living Trust and you will find out Living Trust are better than wills.

Sean L. Robertson, Attorney at Law
Robertson Law Group, P.C.
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
w) 312 498 6080 f) 312 377 2480
www.RobertsonLawGroup.com

Sean L. Robertson received his Juris Doctor (JD) from DePaul University College of Law with an emphasis in Tax/Wealth Law. Sean L. Robertson concentrates in Wills, Trusts, Powers of Attorney, Asset Protection, Corporate Law & Litigation law.

What happens when you die without a Will?

When you die without a will in the State of Illinois, there is a state law that determines who inherits your assets. The court that is responsible for administering these issues is probate court. If you die without a will, your spouse (if you have one) and your children each will inherit fifty (50) percent of your assets. For example, a Husband dies without a will and owns a home in Orland Park. Husband has a wife and three children. The wife will get 50 percent of Husband's assets and the three children will split 5fifty (50) percent of his assets. If there is no spouse, than the children will inherit and split all of their father's assets.

The law is called intestate succession. With probate court, one must open an estate, which must have an executor. An executor is responsible for distributing the deceased person's assets such as real estate, cds, checking, savings, and any other personal assets. In Illinois, there are two types of executors: independent administrators and supervised administration. Independent administrators simply complete the tasks of paying creditors and distributing assets and return no later than 14 months later and give an accounting to the probate court. Independent administrators work work without having to obtain court orders to sell real estate or distribute assets from accounts.

In contrast, Supervised Administrators must obtain court approval before distributing any assets or selling real estate. If one heir does not trust the other executor, they likely will ask for Supervised Administration. This is a very costly process and frustrating because often times simple tasks are made difficult due to obtaining court orders. Court rooms are not designed to expedite matters quickly.

Probate is a time consuming and costly proposition. Attorney's fees generally range from $3,500 (simple estates) to $50,000 in legal fees (complex and disputed estates). Costs range from $500 to $1,000 for fees such as surety bonds, court filing fees, photocopies, mail and certified mail, and yearly surety bonds fees.

In conclusion, Robertson Law Group can assist you with Probate, Guardianship, Wills, Living Trusts (or Revocable Living Trust), Estate Taxation Planning, and Powers of Attorney for Healthcare and Property. We can be reached at 312 498 6080 or RobertsonLawGroup.com. We serve the Southwest Suburbs, Cook County, Will County, & DuPage County.

What is a Will and Power of Attorney?

What is a Will? A will is simply a written document that distributes your property upon your death. A will also may name a guardian for your child or children. Often times, people ask for a will and they do not exactly understand the benefits and weaknesses of a will.

Here are a couple benefits of a will. It is simple and inexpensive to create. It must be witnessed by two people that see you sign your name in their eyesight. Second, a will may name a guardian in case of your death. This is important because people's children are important to them. This likely will reduce the confusion of who should be the guardian of your child. Third, your loved one's get their inheritance supervised by a judge.

Here are the weaknesses of a will. First, a Revocable Living Trust can do the same things as a will and more. Second, a will does not avoid probate court. Probate court is a court that determines who is the rightful owner over your property such as people that die without a will or people that die with a will. Third, a will does not plan for any issues during your life unlike a Revocable Living Trust. For example, seniors are facing dimentia, strokes, and other ailments that make incapacity the biggest liability risks. A will does not plan for incapacity and a guardian court case must be established. Guardianship court is a court that hears claims of disabled people such as minors and adults lack capacity to make their own decisions. Guardianship court is expensive in terms of lawyers' fees and costs and often times, causes fights among family members. A Revocable Living Trust is planned to avoid the risks of guardianship court and have trust loved one's appointed as managers over one's finances and healthcare decisions before these events occur. Thus, there is no need for any court involvement. Fourth, many people love their in-laws but do not want their son-in-law or daughter-in-law to inherit their wealth. Thus, a Revocable Living Trust unlike a will can protect your child's inheritance from their spouses even in case of divorce. Fifth, a Revocable Living Trust is private and is not public information. A will is public information and must be filed at the court house. Many people do not desire for others to know their family's dirty secrets. Finally, a Revocable Living Trust or sometimes referred to as "Living Trust" may plan for possible tax concerns unlike a will. Estate taxes generally begin at 50 percent of your wealth.

What is a Power of Attorney? There are two types of powers of attorney. First, a power of attorney for property designates a trusted person to manage your finances in case you cannot manage them yourself. This is important because your mortgage payments, spending money, car payments, or any other payments cannot be done without a person that is legally empowered to manage your finances. If you do not have a power of attorney, than your family must go to guardianship court to get appointed as a guardian. A guardian is a person that is responsible for managing your finances and paying your bills. Second, a power of attorney for healthcare is a person that makes healthcare decisions for you when you cannot exercise this power for yourself. Typically, a power of attorney describes your wishes with regard to life support, any religious or other beliefs (that affect your healthcare decisions), or whether you want feeding tubes to keep you alive. Again, without a power of attorney, your loved ones must go to guardianship court to get a guardian appointed to make healthcare decisions for you. This is a trying process for your family members. Quite frankly, being a guardian is a hard and thankless job. It often times requires a lot of your time and money! Parents or whoever, please do not put your kids or your loved ones in this position. Your loved ones will thank you for planning ahead.

Sean L. Robertson, Attorney at Law
Robertson Law Group, P.C. (formerly known as Law Office of Sean L. Robertson, P.C.)
9923 South Ridgeland Avenue, Suite 99
Chicago Ridge, Illinois 60415
312 498 6080
RobertsonLawGroup@gmail.com
www.RobertsonLawGroup.com

We concentrate in Wills & Trusts, Estate Planning, Asset & Wealth Preservation, Business Organizations, & Litigation.

Asset Protection & Private Land Trust

Asset Protection is a legal strategy for structuring your assets such as real estate, business, savings, and investments in a way that minimizes their exposure to lawsuits, judgments, & creditors. Professionals such as Physicians, Chiropractors, Dentists, Attorneys, and Business Owners often face a high degree of risk from professional malpractice or business lawsuits. These business lawsuits may include breach of contract cases, IRS tax issues, employment discrimination, medical malpractice, legal malpractice, or partnership disputes among many other liability risks.

Often times, people are the most concerned about real estate interests such as their investment or personal residence. A Private Land Trust is a way of holding your real estate interests. These are few of the benefits that a Private Land Trust offer:
1. Protection against liens & judgments;
2. Privacy to combat identity theft & discourage lawsuits by lowering your risks profile;
3. Easy way of transferring interests (particularly investment properties);
4. Basic estate planning may avoid probate court (better than nothing but not without risk)

Why are these benefits important to you? Protection against liens and judgments are crucial to you because you can still sell your property with a lien or judgment against it if you have a Private Land Trust. Thus, you may want to never pay your creditor because it is simply unaffordable and against your interests. Second, privacy is crucial with the rise of identity theft and you may discourage a lawsuit from ever being filed against you. Paying a litigation attorney is expensive and they will likely bill at $250 per hour and up plus costs. Thus, a lawsuit simply being filed against you may destroy you financially. A Private Land Trust reduces your risk profile because you do not appear as though you own real estate. Therefore, Attorneys love to sue people with real estate because they have something to lose. Third, if you own an LLC, you and your partners may set up a Private Land Trust avoid the necessity of both partners showing up for your real estate closing. Hence, one partner may sign on behalf of the LLC unlike a regular real estate deed. Fourth, a Private Land Trust designates a primary and successor beneficiary. Probate court is expensive and time consuming. Most people have issues upon a death due to the ownership of real estate property(ies). Even a will will not keep you out of probate court. Probate court is a court that determines who is the rightful owner of assets such as real estate when the person has not created a Trust. Thus, with a Private Land Trust, you designate your primary and successor beneficiary. It is not the preferred method of estate planning, but it is better than nothing. For further information on Wills, Trusts, Asset Protection, Powers of Attorney, or Private Land Trust, call Sean Robertson, Esq. at 312 498 6080 or RobertsonLawGroup@gmail.com.

Robertson Law Group, P.C. otherwise previously known as
"Law Office of Sean L. Robertson"
9923 South Ridgeland Avenue
Suite 99
Chicago Ridge, Illinois 60415
Serving Chicago Ridge, Oak Lawn, Palos Heights, Palos Hills, Orland Park, Frankfort, New Lenox, Joliet, Chicago, Will County, Cook County & DuPage County.

"Asset Protection During a Recession" Seminar

My law firm is having a legal seminar on Tuesday, March 24th at 8 a.m. to 10 a.m. called "Asset Protection During a Recession". This Seminar will be held at Blueberry Hill in Homer Glen, Illinois in the conference room. For more information, call 312 498 6080 or RobertsonLawGroup.com.

With today's recession, litigation is very high. The need for Asset Protection was present before this recession, but this recession can teach us valuable lessons. One of the first lessons is to learn that you can spend a lifetime building your Wealth and lose it all with one lawsuit or judgment. Asset Protection is simply a legal speciality in structuring your Assets in a manner that discourages lawsuits being filed against you or protects your assets in case a judgment is entered against you. For those that have faced a judgment, the prospect of losing your home, personal savings, cds, investment properties, and cars is a daunting reality. At this legal seminar, you will learn about the litigation process such as how a lawsuit is filed, how to respond to a lawsuit, and what happens when a judgment is entered against you.

At the Robertson Law Group, P.C., Sean Robertson, Esq. and his staff works with individuals, businesses, and physicians in setting up Wills & Trusts, Powers of Attorney for Property/Healthcare, Corporate Structure & Formation Planning, & Civil and Commercial Litigation. We can be reached at 312 498 6080.