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Why Drafting Client-Friendly Estate Planning Documents Are Important?

Naperville, Wheaton, and Warrenville Client-Friendly Estate Planning Lawyers

Sean Robertson and Robertson Legal Group, LLC focus on client-friendly easily understood estate planning documents. Often, estate planning documents are long and contain a lot of “legalese”. The Merriam-Webster Dictionary defines “legalese” as the specialized language of the legal profession. Often, estate planning documents are difficult to understand for ordinary lawyers. Estate planning documents such as Last Wills and Testaments and Revocable Living Trust are difficult for ordinary Americans to understand. Sean Robertson and Robertson Legal Group, LLC draft their documents in clearly-understood plain English.

What Is an Irrevocable Trust and Why Is It Good?

Naperville, Plainfield, and Bolingbrook Irrevocable Trust Attorneys and Estate Planning Lawyer

What is an Irrevocable Trust?

An Irrevocable Trust is a legal instrument designed to shelter assets. Unlike a Revocable Living Trust, an Irrevocable Trust may not be amended, altered or changed by the Trustor or Grantor. A Trustor or Grantor is a person that creates a Trust. A Trust is simply a written legal instrument that designates your wishes. In contrast, a Revocable Living Trust is more popular than an Irrevocable Trust because it may be altered, amended, and/or revoked unlike an Irrevocable Trust.

How Do Business Planning and Estate Planning Go Together?

Naperville and Oswego Business Planning and Estate Planning Attorneys

Sean Robertson and Robertson Legal Group, LLC concentrate in the areas of estate planning, revocable living trust, real estate asset protection, and business planning for professionals and successful business owners. Successful couples have estate planning, real estate asset protection, and business planning issues combined together.

Plainfield and Naperville Business Planning Lawyers

What is a Business Planning Lawyer?

Simply put, a business planning lawyer is a lawyer that concentrates in planning for successful business people, which is a combination of tax planning, business entity and asset protection planning, real estate preservation planning, and estate planning. Successful couples typically own a primary residence and may own vacation, investment, and/or rental property. A business planning attorney addresses these realities and develops a business and estate plan combined together typically involving a combination of Revocable Living Trust, Limited Liability Corporations or otherwise known as LLCs, Private Land Trust, and possibly asset protection legal services designed to shelter substantial liquid investments and best structure life insurance assets distributed upon death.

New Illinois Limited Liability Act Makes Limited Liability Corporations an Easy Choice Over S Corporations

Naperville, Bolingbrook, Wheaton, and Aurora Business Planning and Limited Liability Corporation Attorneys

Sean Robertson and Robertson Legal Group, LLC are business planning and asset protection attorneys in the Naperville, Oswego, Aurora, Wheaton, Bolingbrook, Romeoville, and Joliet areas. Sean Robertson and Robertson Legal Group, LLC service the Western Suburbs, Fox Valley, and the Southwestern Suburbs of Chicago with their Limited Liability Corporations and Business Planning legal expertise.

Kendall County and Fox Valley Limited Liability Corporation Attorneys

Sean Robertson and Robertson Legal Group, LLC provide Oswego, Yorkville, Plano, Aurora, Sugar Grove, and other areas in Kendall County and Fox Valley with reliable and experienced legal counsel related to estate planning, business planning and succession planning, real estate law, and asset protection planning. The New Illinois Limited Liability Company Act took effect on July 1, 2017 created opportunities for entrepreneurs, families, and business owners.

Is a Series LLC or an LLC Good for Your Real Estate Property?

Oswego and Yorkville, Kendall County Real Estate Attorneys for Investors and Real Estate Owners

Real estate owners and investors own their personal or investment real estate in their personal names. Your homestead property, which is your primary residence, should never be owned by your Limited Liability Corporation or Series LLC. Your primary residence should be owed as tenants by entirety in your Revocable Living Trust and/or Private Land Trust.

Tenants by Entirety: Kendall County Husband and Wife Real Estate Attorneys

Tenants by entirety is a way of owning your primary residence in the State of Illinois. Tenants by entirety is the preferred way to own a home for a husband and wife. There are a couple of key things. First, a husband and wife must own the house because tenants by entirety is limited to husband and wives (or legally married persons). Second, tenants by entirety property must be your primary residence. Thus, a husband and wife cannot own two (2) real estate properties characterized as tenants by entirety. Generally, jointly owned property of a husband and wife that is investment property will be titled as joint tenants with right of survivorship. As joint tenants, upon one spouse’s death, the other spouse automatically inherits the investment property. One major difference between joint tenants and tenancy by entirety is creditor protection. As tenants by entirety, a creditor cannot foreclosure your house if one spouse has liability or creditor problems unlike joint tenants. If one spouse has creditor problem as joint tenants, the creditor has a legal right to foreclosure their judgment or lien if the husband and wife cannot satisfy the judgment. On the contrary, tenants by entirety provide husband and wife creditor problem where a creditor (unless possibly the IRS or another government entity) cannot foreclose on a lien or judgment against only one spouse. Creditor protection does not apply for tenants by entirety problem when the creditor has a judgment or lien against both husband and wife.

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