Tag: Naperville estate planning attorney
Using Medicaid Trusts for Asset Protection and Long-Term Care Planning
Posted on February 13, 2026
The cost of long-term care continues to rise in 2026, and many Illinois families face difficult financial decisions when a loved one needs nursing home care or home health services. One powerful tool for protecting your assets while qualifying for Medicaid benefits is a Medicaid Asset Protection Trust, also called a MAPT. In 2026, the asset limit for Medicaid long-term care is $17,500 for individuals, according to the Illinois Department of Human Services. This means that if you have more than $17,500 in countable assets, you must spend down those […]
Everything You Need to Know About Probate in Illinois and How to Avoid It
Posted on January 31, 2026
When someone passes away in Illinois, their estate often goes through a legal process called probate. This court-supervised procedure can take months or even years to complete and costs thousands of dollars. Many families want to know how probate works and whether they can avoid it entirely. Understanding probate is important whether you are planning your own estate or settling the affairs of a loved one. The good news is that Illinois law provides several ways to avoid or minimize probate for many families. In this guide, our experienced Naperville […]
Can You Access The Bank Accounts Of Deceased Family Members?
Posted on January 14, 2026
If your family member passes away but doesn’t leave a will and only has their own name on the bank accounts, what happens to the funds in the accounts? What legal action can you take at this point? Many individuals from older generations don’t communicate well about finances, and so many families find themselves in this situation. When someone does not have any estate planning documents in place or have anyone else on their bank accounts, surviving family may be left with many more questions than answers. For high net […]
Can A Lawyer Be Your Executor in Your Estate Plan?
Posted on December 28, 2025
When people think about estate planning, they usually focus on who will inherit their money, property, and personal belongings. That is important, but it is only part of the picture. Another decision matters just as much: Who will actually carry out your wishes after you pass away That person is called the “executor” of your estate. If you are creating or updating an estate plan in Illinois, you may be wondering whether a lawyer can serve as your executor, and whether it makes sense for your situation. The short answer […]
Essential Questions Regarding Safety Deposit Boxes and a Loved One’s Death
Posted on November 14, 2025
Safety or safe deposit boxes are used to store valuable or important items such as jewelry, family heirlooms, property deeds, or original copies of a will. Because the contents of these boxes are often financially and emotionally important, questions about who can access them after someone passes away are common When a loved one dies, family members may not even know whether the person had a safety deposit box or what was inside it. If the box is not listed in a will or estate plan, confusion and disputes can […]
Do All Wills Go Through Probate?
Posted on October 30, 2025
Creating a last will and testament is one of the most important steps in protecting your assets and providing for your loved ones. However, many high-net-worth individuals and business owners in Illinois misunderstand what happens after a will is created. One of the most common questions we get is: Do all wills go to probate court? The answer depends on several factors, including the value of the estate, the type of assets involved, and how ownership and beneficiary designations are structured. Our Naperville estate planning attorney can explain when probate […]
What Happens to Your IRA or 401(k) When You Die?
Posted on October 15, 2025
For most people, retirement accounts like IRAs and 401(k)s represent a lifetime of careful saving and investing. These accounts are often major assets within an estate, and they play a key role in how wealth is passed on to loved ones. However, few people realize how complex the rules are for what happens to these funds after death, or how many layers of taxation can apply. Without proper estate planning, a large portion of your retirement savings could be lost to federal and state taxes before your beneficiaries ever receive […]
Using Qualified Personal Residence Trusts (QPRTs) to Protect Your Family Home
Posted on September 27, 2025
For many families in Naperville and DuPage County, home means more than simply where they live. It is a place filled with memories, traditions, and a sense of stability. When planning for the future, many clients want to ensure that this home remains in the family while also reducing estate tax exposure. One of the most effective tools for accomplishing this is a Qualified Personal Residence Trust (QPRT). A QPRT allows you to transfer your home to your beneficiaries at a reduced tax cost while still living in it for […]
Estate Planning Essentials for Blended Families in Illinois
Posted on September 12, 2025
Blended families are becoming increasingly common in Illinois. Many people remarry after divorce or widowhood, bringing children from prior relationships into a new marriage. For high net worth families, this dynamic adds both opportunity and complexity when it comes to estate planning. Without a careful strategy, the goals of protecting a new spouse, making sure children from all relationships are treated fairly, and protecting wealth across generations can come into conflict. At Gierach Law Firm, our Naperville, IL estate planning attorney has decades of experience guiding high net worth families […]
Irrevocable Trusts vs. Revocable Trusts: How Do I Choose the Best Option?
Posted on August 26, 2025
Families throughout DuPage County who are thinking seriously about preserving their wealth often find themselves faced with a major decision: should they create a revocable trust, an irrevocable trust, or some combination of the two? Your choice will affect how much control you have over your assets, how those assets pass to your children or other beneficiaries, and whether you will face unnecessary taxation or creditor claims in the future. The Illinois Trust Code (760 ILCS 3), which governs trusts throughout the state, allows both revocable and irrevocable trusts. Each […]
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