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​At the Law Office of Franklin J. Furlett we have been crafting living and testamentary trusts for our clients for years.  Trusts are a legal way to avoid putting an estate into the court system.  A trust is special legal device to transfer assets to beneficiaries either during your life or after your death.  The legal term "trust" sometimes scares people.  It sounds complex and many people think it is a thing only used by the rich.  In truth, there are many types of trusts.  Some trusts are simple and some are complex.

A trust has three main parts:  the settlor, the trustee, and the beneficiaries.  The settlor is the person who puts money into a trust, the trustee is the person who watches over the items and money in the trust, and the beneficiaries are the people who get an interest in the trust (which can occur immediately or upon a future contingency).  When you make a trust, you transfer legal ownership of your items into the trust and generally retain the ability to use the items or money for your life.  When you either pass away or another contingency happens, the items or monies pass to the beneficiaries. 

​In Illinois, you can put your money, real estate, and personal items in a trust so that when you die your family does not need to go through the tremendous expense and emotional toll of probate court.  The probate process is a way to transfer property using the court system.  In probate court, a judge looks at the will that an individual has made, determines if the will is valid, and then a period of 6 months is given to allow creditors to file claims against the estate.  If you distribute these moneys before claims from creditors are resolved you may be personally liable for any claims against the estate.  The probate process can be both expensive and lengthy.  To avoid the expense and emotional toll of probate, you should consider creating a trust.  To contact an Illinois trust attorney about making a new trust or modifying an existing trust, contact the Law Office of Franklin J. Furlett at 847-352-6226 or use our contact form:  
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​Law Office of Franklin J. Furlett, Ltd., 335 West Wise Road, Schaumburg, IL 60193
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Please note that the information on this website is not and cannot be considered legal advice.  The website contains advertising information for the Law Office of Franklin J. Furlett.  Reading this website does not create an attorney-client privilege and the materials you are reading are not legal advice.  Please be advised that the Law Office of Franklin J. Furlett and its attorneys cannot be held liable for any statutes of limitations that run out before you talk to an attorney at the Law Office of Franklin J. Furlett.  You as the reader must be aware that if you do not contact an attorney quickly any claims you have may be barred by law.  To contact an attorney at the Law Office of Franklin J. Furlett in Schaumburg, IL to get legal advice, either use the contact form in the navigation panel or call 847-352-6226.