Noreen A. Costelloe, Attorney at Law
Knowledge, Experience & Creativity to Skillfully Guide You
Through Legal Transactions and Life Planning --
Protecting the People You Love, Your Property and Assets.
7420 County Line Road, Suite 5 Phone/Fax: 630.472.0616
Burr Ridge, IL 60527 Email: noreen@noreencostelloelaw.com
Two major goals of estate planning are to minimize estate taxes on your hard-earned financial assets and resources and to state how you wish these assets to be distributed upon your death. Your estate plan may also name guardians of any minor children as well as establish a trust for them or others you want to provide for.
With the desire to avoid probate and maintain privacy on the details of their estate and its distribution, Noreen Costelloe is finding that most of her clients prefer to utilize a Living Trust as their primary estate planning instrument. Because the particulars of each estate vary, Ms. Costelloe can work with you to determine the best strategy and vehicle for your situation.
Each estate planning situation is unique, and Ms. Costelloe is experienced at finding creative solutions to unusual and complicated family situations. Ms. Costelloe has addressed unique concerns and situations to many clients' satisfaction, including:
- Family business succession issues, where some family members are not involved in the business;
- Planning for children with special needs, including trusts and simple guardianships;
- Single parent families with both underage and adult children;
- The diverse and interesting challenge of blended families and more.
Given the ever-changing nature of life, MOST individuals and couples should review their estate plans every 5 to 10 years. Changes to your estate plan are often prompted by life events such as divorce, remarriage (with or without step children), children reaching adulthood, deaths or incapacities in your family, sale of a family business and more.
Please click on the "Contact Me" box to the left for a FREE 1/2 hour consultation and information on how Noreen can assist you in making the best decisions for your current stage of life and to meet your future goals.
Your Estate Plan Starts with Living Trust, A Will with Testamentary Trust or a Simple Will.
For a FREE 1/2 hour Estate Planning Consultation to assess your family’s needs and objectives.
Most Common
Estate Planning
Instruments
Living Trust: By establishing a living trust, over which you maintain full control, your estate avoids the cost and delay of probate, and trust assets pass privately to your beneficiaries. There may be tax savings, and you are able to designate a Disability Trustee, in the event of mental incapacity.
Simple Will: A simple allows you to direct distribution of your assets to surviving spouse, charities, and/or other beneficiaries, and to name individuals on whom you wish to bestow guardianship for your children if you die unexpectedly.
Will with Testamentary Trust: Along with the elements of a Simple Will, this estate planning vehicle establishes one or more trust(s), whereby your assets provide an income stream for children and other dependents, until such time as they reach specified age, educational or marital status.
