Trust based planning
Protect your assets, your legacy, and your loved ones
What is trust-based planning?
A trust-based estate plan helps your family avoid probate court so that your assets can pass seamlessly and privately to your beneficiaries.
Types of trusts
Revocable living trust
Revocable living trusts are a common estate planning tool in Illinois today.
They are primarily used to avoid probate, ensuring your assets pass privately and quickly to your family without costly court intervention.
They also allow for the creator of the trust to put conditions and restrictions on an heir's ability to receive their inheritance.
Irrevocable trusts
These types of trusts are used in more complex circumstances.
Irrevocable trusts can help avoid estate taxes, help an elderly person qualify for Medicaid assistance, or help parents plan for the needs of their disabled children.
Irrevocable trusts also help families avoid probate and put conditions or restrictions on an heir's access to the money.
Benefits of trust-based planning
✔️ You avoid the government's default estate plan
✔️ Avoid probate court
✔️ Allows you to influence heirs after your death
✔️ Can help avoid estate taxes in certain circumstances
✔️ May help qualify you for Medicaid as part of long term care plan
✔️ You decide who will be responsible for carrying out your wishes
✔️ Specify your final arrangements
✔️ Leave specific gifts
✔️ Decide who your assets will go to
✔️ Exclude anyone you want from receiving anything
✔️ Decide who will take care of your finances if you can't
✔️ Decide who will make your medical decisions if you can't
✔️ Decide what will happen in a medical emergency
Who should consider trust-based planning?
You may want to consider a trust-based plan if:
- You want to avoid the expense and publicity of probate court
- You want the ability to put conditions on how and when your heirs inherit your money
- Your estate is more complex with many properties or many financial accounts
- Your estate is subject to estate taxes
- You have a special needs child you want to provide for after your death
- You want to consider the use of Medicaid in paying for long term care expenses
How it works
A simple, understandable process to give you confidence in your plan.
1. Schedule and attend your planning session
An opportunity to get to know each other where you can ask general questions about estate planning.
2. Attend the Design Meeting
Together, we will design your unique estate plan to meet your specific needs and goals.
3. Sign the documents and get peace of mind
You sign your estate planning documents with our help, so nothing is missed or left behind.
Schedule your Planning Session
During our session, you can expect:
1. We will answer your questions and listen as you share your goals, concerns, and objectives
2. We'll map out your options including a Will versus a Trust, so you can make educated, informed decisions about what is best for your family
3. We'll thoroughly review our process and unique flat fee pricing so you know exactly how much your investment will be and how long it will take
4. If we are a good fit to work together, we'll discuss next steps.
5. You will leave our session with a clear picture about what you really need (and don't need) to protect your family and assets
Refreshingly uncomplicated
Getting started is all handled online via e-sign and online payment. We personally guide you through information gathering. No lengthy intake forms.
Your estate documents contain an easy to read summary and personalized explanation.
Final documents are signed and notarized at a location of your choosing.
Meet Jordan
Jordan is dedicated to helping families find peace of mind.
Jordan's estate planning practice focuses on helping families make important and responsible decisions today to avoid unnecessary pain and conflict tomorrow. He understands how complicated estate planning can be, and guides his clients to ensure that their loved ones are taken care of, and their final wishes are carried out.
How can I learn more about Attorney Jordan Emmert?
Attorney Jordan Emmert's estate planning practice focuses on helping families and business owners make important and responsible decisions today to avoid unnecessary pain and conflict tomorrow. He understands how complicated estate planning can be, and guides his clients to ensure that their loved ones are taken care of, and their final wishes are carried out.
Jordan completed his Bachelor's degree at Southern Illinois University-Carbondale, and graduated from Northern Illinois University School of Law. Prior to opening his practice, Jordan worked for a large regional law firm in Illinois, and then as corporate counsel for a multi-billion dollar building supply company.
Jordan is admitted to practice law in Illinois, the United State District Court for the Northern District of Illinois, the United States District Court for the Central District of Illinois, and the United States District Court for the Western District of Wisconsin.
In his spare time Jordan enjoys spending time and traveling with his wife and young daughter.
What is our general process?
We have an easy, 3-step process designed to have your estate plan created and signed in 6-8 weeks:
Step 1: Attend you Peace of Mind Planning Session. You’ll fill out a questionnaire (“Family Profile”) before we meet so we can make the best use of our time together. At this Zoom session, you’ll learn all about your options and our flat fees. When you are ready to move forward, we’ll email you an engagement letter and invoice, both of which can be executed online.
Step 2: Attend your Estate Design Meeting. We’ll roll up our sleeves and design your will, trust, and other estate planning documents, working off the information you provided in your Family Profile. After this session, I’ll draft your documents, and send a copy for your review. We’ll then make any changes or updates you’d like to make. When everything is good to go, we’ll coordinate the signing.
Step 3: Sign and get peace of mind. At the signing, you’ll execute your documents with the proper legal formalities.
What can I expect from my Planning Session?
An attorney who listens without interrupting and makes sure you fully understand your options before making any decisions! I wouldn’t be doing my job as an attorney otherwise.
It’s very important to me that I understand your situation and that you have your questions answered. We’ll also review our process, flat fees, and overall client experience so you know exactly what you are getting and what the investment will be.
What are the initial steps to get started?
When you are ready to move forward, whether at your Peace of Mind Planning Session, or later, let me know. We’ll send you an engagement letter to e-sign and an invoice via our secure online payment provider, Clio or Stripe. Once these housekeeping items are taken care of, you’ll schedule your Estate Design Meeting.
What kind of information do you need from me?
We will need information about what kind of assets you own (house, retirement account, life insurance, etc.), their relative value, and how they are titled (jointly, individually, etc). Beyond that, we simply need answers to questions about your personal estate planning preferences, including:
- Who you would want raising your minor children if something happened to you and your spouse
- Who you want to be in charge of your children’s money until they are old enough to mange it themselves
- Who you want making medical and financial decisions for you in the event of your incapacity
Don’t worry if you don’t have the answers to these questions right away! You’ll have plenty of time to think things over throughout the process.
What happens if I don't have a will or trust?
Illinois law provides for the distribution of your assets in the event you do not have a will. Think of it as a default plan for your family and assets in the event of your death or incapacity.
Forming an estate plan is like opting out of the default plan and putting your own wishes in place.
How much does estate planning cost?
It depends! Developing your estate plan is not one size fits all, and will depend largely on your unique circumstances.
During the Peace of Mind Planning Session, we will discuss your options based upon your unique circumstances, and the pricing options.
How long does the process take?
Our process is designed to have your estate planning documents signed within 6-8 weeks of your Peace of Mind Planning Session. It depends in part on your schedule and how long it takes for you to review your draft documents.
What kind of clients do you accept?
We take on a limited clientele each month so we can offer a high level of service to each family. We work with people who care about ensuring that their children and assets are cared for appropriately if the worst happens. We strongly believe that your children and your life savings are much too important to leave up to chance.
If you are looking for the cheapest attorney you can find, do not want to devote time to learning and understanding your options, or are simply looking for forms to fill out, we will not be a good fit for you. However, we would be happy to refer you to another lawyer who may be a better fit.
What is probate?
Probate is the court-supervised process of administering your estate upon your death. If you die without a will, your estate must go through probate before all your money can be distributed to your heirs. And if you die WITH a will…your estate still has to go through probate!
What’s so bad about probate? Even a simple probate can take months to complete and can cost as much as 4%-8% of the estate assets in the meantime. It’s also a public proceeding that makes your will available to anybody who wants to look at it.
Although a will is subject to the probate process, trusts are designed to bypass it.
Isn't estate planning just for the wealthy?
No. This is the biggest myth out there. Estate planning is in no way related to how much money you have, whether you are a married, or whether or not you are a parent.
Estate planning in putting legal documents in place that ensure your assets will go to the people you want, the way you want, when you are gone. It’s about making this as easy as possible on your loved ones during an otherwise difficult time. And we all care about that, no matter how much (or little) money we have.
It’s also about appointing people to manage your property and make health care decisions for you if you are incapacitated, something that matters to all of us regardless of wealth.
What is a power of attorney?
A power of attorney lets you appoint someone to manage your property and/or make your healthcare decisions in the event you can't.
How can I make sure my kids don't get a big check on their 18th birthday?
Great question! I have yet to meet a parent who actually wants their kids to inherit a big lump sum on their 18th birthday. The good news is that with a trust, you can choose a later age for your kids to inherit – say 25, or 30. You have lots of options. We’ll discuss them at your Peace of Mind Planning Session.
Can't I just do my will on Legal Zoom?
You can. Keep in mind that Legal Zoom and law firms are two different things. They provide two different services. This is why the cost is different.
Legal Zoom offers form documents you fill out and execute yourself. They are not a law firm and do not give legal advice. An attorney, on the other hand, counsels you and gives you legal advice based on your specific circumstances.
A good estate planning attorney will give you personalized advice about creating an estate plan to meet your specific needs, customize the estate documents to ensure your wishes are carried out, ensure they are signed with the proper formalities, and pick up the phone when you call with questions.
If these things are important to you, you should work with an attorney.