Illinois Complex Estate Plan Lawyers

Naperville estate planning attorney complex estate business owner

Estate Planning Attorneys for Business Owners and High-Value Estates in the Chicago Area

No matter your age, income level, or financial status, it is a good idea to create an estate plan that will include decisions about what you want to happen after your death while also addressing how certain matters should be handled during your lifetime. However, estate planning is even more crucial for business owners or families who have complex, high-value assets. In these cases, a comprehensive estate plan can ensure that assets are managed properly and that they can be transferred to family members or other beneficiaries while minimizing the taxes that a person or family may be required to pay.

At The Gierach Law Firm, LLC, we can help you understand how to make use of the available estate planning tools and strategies to ensure that you and your loved ones will be provided for. As a business owner and Certified Public Accountant, Attorney Denice Gierach knows the best ways to address your financial concerns while helping you prepare for the future. The lawyers of The Gierach Law Firm, LLC have more than 30 years of experience, and we are ready to build a customized solution that will meet your family’s needs and provide you with peace of mind.

Complex Estates and Business Interests

If your family has a high net worth, you likely own a wide variety of different types of assets, including financial accounts, investments, multiple real estate properties, retirement plans, life insurance policies, business interests, and valuable items such as automobiles, boats, jewelry, designer clothing, or artwork. All of these assets will need to be addressed in your estate plan, and creating detailed documents that describe how your property will be distributed to your beneficiaries can help avoid the possibility of contested estates.

Business owners and families with complex estates may need to address some or all of the following issues:

  • Asset protection – Certain types of trusts and other strategies may be used to ensure that your family’s assets are protected from loss due to issues such as liability, debts, or divorce. In some cases, the creation of a Family Limited Partnership can allow assets to be transferred to subsequent generations over a long period of time.
  • Business succession planning – If you are a business owner, you can take steps to plan for the transfer of ownership to your family members or others that you trust after your retirement or death. This can help ensure that the business will be able to continue operating successfully and give you confidence that your hard work will not have gone to waste.
  • Tax planning – Estate taxes may apply following the death of a person who owns a large estate, but there are a variety of strategies that can be used to minimize these taxes and ensure that as much of your estate as possible is transferred to your loved ones. Business owners may also need to determine how taxes will apply when transferring business interests to new owners.
  • Charitable giving – Creating strategies for donating money or assets to charitable organizations can provide many benefits to owners of complex estates, including income tax deductions and the minimization of capital gains taxes and estate taxes.
  • Legacy planning – Through your estate plan, you can not only address how ownership of your assets will be handled both during your lifetime and after your death, but you can take steps to make sure you will leave a meaningful and lasting legacy behind. This can be done by giving money to charity in your family’s name, setting up a family foundation to support a cause you believe in, or taking other steps to make sure your family members are prepared to protect what is important to you.

Contact Our Naperville Estate Planning Lawyers

If you own a business or have a high net worth, you will want to make sure you have addressed financial matters properly in your estate plan. The Gierach Law Firm, LLC can help you understand the tools that will allow you to protect your assets or your business, provide for your family’s needs, and give you the assurance that your legacy can continue for years to come. Contact us today in Naperville at 630-756-1160 or in Hoffman Estates at 847-519-0505 to schedule a consultation and learn more about how we can help you create the comprehensive estate plan you need.

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From our offices in Naperville, Illinois, we handle matters throughout Illinois including DuPage, Cook, Will, and Kane counties and within towns such as Addison, Aurora, Barrington, Batavia, Burr Ridge, Carol Stream, Chicago, Darien, Downers Grove, Elgin, Elk Grove Village, Elmhurst, Geneva, Hinsdale, Hoffman Estates, Lisle, Lombard, Naperville, Oak Brook, Roselle, Schaumburg, St. Charles, Warrenville, Wheaton, and Winfield.
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1776 Legacy Circle, Suite 104, Naperville, IL 60563 | 
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