Estate Planning

Estate planning is more than just a legal process—it's a deeply personal journey that shapes your legacy, secures the future of your loved ones, and ultimately offers peace of mind. Navigating this journey can be overwhelming, given its significance and the complex decisions it involves. However, with the right support and guidance, estate planning can transform from a daunting task into an empowering process. That's where we at Kelleher + Holland, LLC come in, ready to provide expert advice and compassionate service every step of the way. 

Our dedicated team of skilled attorneys brings decades of experience in providing comprehensive estate planning services tailored to your unique circumstances. Our approach is not just about drafting documents—it's about building relationships based on trust, respect, and mutual understanding. 

If you are looking for estate planning attorneys anywhere in the United States, look no further. Our team at Kelleher + Holland, LLC is here for you. From creating a will or trust to minimizing taxes and ensuring your wishes are carried out after your passing, we offer a wide range of services to meet your needs. Get in touch today for support. 

Why Estate Planning Is Important 

Estate planning isn't just for the wealthy—it's a crucial step for everyone, regardless of age, health, or financial status. It's about ensuring your hard-earned assets are protected and distributed according to your wishes. Without a proper estate plan, your estate may end up in a costly and time-consuming probate process. More importantly, if you pass away without a will—known as dying intestate—your assets will be distributed according to state laws, which may not align with your preferences. 

Documents That May Be Included in an Estate Plan 

Navigating estate planning is no small task. The process involves numerous facets, including wills, trusts, powers of attorney, advance directives, HIPAA authorization, and more. Each element plays a pivotal role in shaping how your estate will be managed and distributed. Understanding these crucial documents is the first step towards knowing that your estate plan aligns with your personal objectives. 

  • Wills: A will is a legal document outlining how you want your assets distributed after your death. Depending on your preferences, it can be revocable (changeable) or irrevocable (permanent). 

  • Living Wills state your child’s wishes regarding life-sustaining treatment in the event of a terminal illness or incurable injury if they are unable to communicate 

  • Trusts: These legal arrangements allow you to transfer your assets to a trustee, who will manage them for the benefit of your designated beneficiaries. Trusts can take many forms, including charitable trusts, retirement benefit trusts, and revocable or irrevocable trusts. 

  • Charitable Trusts are made for the benefit of specific charitable purposes. Additionally, charitable trusts are favored by the law. They do not have to have definite beneficiaries because the party who enforces the trust is the attorney general. Also, charitable trusts are not subject to the rule against perpetuities. 

  • Retirement Benefit Trusts (RBTs) are excellent instruments for planning a stress-free retirement.  If you have significant assets in a qualified retirement account such as an IRA or 401k, then you should consider setting up a special type of revocable living trust that is designed to be the beneficiary of the account after you die. 

  • Irrevocable Life Insurance Trusts + Life Insurance Planning are created to own and control a term or permanent life insurance policy or policies while the insured is alive, as well as to manage and distribute the proceeds that are paid out upon the insured’s death. 

  • Powers of Attorney: This document gives someone the authority to make decisions on your behalf if you become incapacitated, including financial and healthcare decisions. 

  • Power of Attorney for Health Care gives you the authority to make medical decisions on your child's behalf. 

  • Power of Attorney for Property allows you access to your child's finances such as credit card bills, rent & utilities, bank account transactions, tuition, etc. if needed. 

  • Advance Directives: These include living wills, which let you specify your healthcare preferences in case you're unable to communicate them yourself. 

  • HIPAA Authorization: This allows designated individuals to access your medical information and discuss your health situation with healthcare providers. 

Estate planning embodies a comprehensive approach to preparing for the future. It involves a thoughtful process of deciding who will inherit your assets, how your healthcare decisions will be carried out, and who will represent your interests when you're unable to do so. With the right documents in place, you can have peace of mind knowing that your estate will be handled according to your wishes.

biatOur proprietary BIAT trust provisions create a streamlined solution to most new and existing estate plans, including revocable living trusts, retirement benefit trusts and irrevocable trusts, such as spousal lifetime access trusts (SLATs) and irrevocable life insurance trusts (ILITs).

CLICK HERE to learn more about our BIAT trust provisions

POA directivesHow Your Attorney Can Help 

At Kelleher + Holland, LLC, we're committed to helping you navigate the intricacies of estate planning. Our attorneys work closely with you to understand your goals and tailor a plan that meets your needs. We're well-versed in drafting enforceable documents, including wills, trusts, powers of attorney, and advance directives. 

We can also help you navigate complex tax laws, minimize taxes, and ensure your assets are protected for future generations. Every individual and family has unique estate planning needs. We take the time to listen to your concerns and goals, then recommend the best solutions for your situation.  

  1. Our 3-minute video provides instructions and tips for you and your child to fill out the online worksheet needed to start the process.

    CLICK HERE to begin your power of attorney directives worksheet!

Estate Planning Attorneys 

Our experienced team at Kelleher + Holland, LLC is ready to assist you. With offices in North Barrington, Hinsdale, Waukegan, and Naples, Florida, we serve clients nationwide and across the globe. We understand estate planning laws and are dedicated to providing future-focused service. Choose Kelleher + Holland, LLC as your trusted partner in estate planning, and reach out to us for a consultation today. No matter where you are in your journey, we're here to guide you every step of the way.