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John Lynch
About | Practice Areas
Lynch Law, LLC
300 E 5th Ave Suite 360 Naperville, IL 60563» view map
Estate Law
A Family Approach To Law

Legal matters should only be dealt with by people you trust. Who can you rely on more than people who treat you like family? Trust us to help you today.

800-952-9511
1. John Lynch Naperville, IL
  Attorney at Law- IL, 1998
  Shepard Broad Law Center, J.D. 1998
2. AboutLynch Law, LLC
  A Family Approach To Law
3. Practice AreasExpertise
  Estate Law
1. Contact
2. Email
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6. Website
7. Profile

Includes: Gift Taxation

Jason A. Doran

Corporate, Business Organization, Estate Administration, Estate Planning

Status: In Good Standing

CONTACT

2500 South Highland Avenue, Lombard, IL 60148

Edward G. Schussler

Business Organization, Contract, Elder Law, Estate Planning

Status: In Good Standing

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9631 W 153rd Street, Orland Park, IL 60462

Betsy Kadus

Wills & Probate, Government Agencies, Elder Law, Estate Planning

Status: In Good Standing

FREE CONSULTATION

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500 Skokie Blvd., Northbrook, IL 60062

Mimi L. Turney

Business Organization, Estate Planning

Status: In Good Standing

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707 Skokie Blvd # 500, Northbrook, IL 60062

James J. Riebandt

Commercial Leasing, Estate Planning, Corporate, Business Organization

Status: In Good Standing

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1237 S. Arlington Heights Road, Arlington Heights, IL 60006

Kathleen R. Ryding

Wills & Probate, Estate Planning, Family Law, Corporate

Status: In Good Standing

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1755 South Naperville Road, Wheaton, IL 60189

Robert E. Jones

Family Law, Corporate, Estate Planning, Real Estate

Status: In Good Standing

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1755 South Naperville Road, Wheaton, IL 60189

John Dirk Gutzke

Estate Planning, Labor Law, Family Law, Contract, Business Organization

Status: In Good Standing

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1776 South Naperville Road, Wheaton, IL 60187

Bret R. Klemetson

Tax, Estate Planning, Corporate, Business Organization

Status: In Good Standing

CONTACT

1755 South Naperville Road, Wheaton, IL 60189

Lawrence A. Stein

Corporate, Estate Planning, Trusts, Litigation

Status: In Good Standing

CONTACT

1755 South Naperville Road, Wheaton, IL 60189

800-923-0641

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LEGAL TERMS

ENTITY

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from i... (more...)

An organization, institution or being that has its own existence for legal or tax purposes. An entity is often an organization with an existence separate from its individual members--for example, a corporation, partnership, trust, estate or government agency. The entity is treated like a person; it can function legally, be sued, and make decisions through agents.

ABSTRACT OF TRUST

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract... (more...)

A condensed version of a living trust document, which leaves out details of what is in the trust and the identity of the beneficiaries. You can show an abstract of trust to a financial organization or other institution to prove that you have established a valid living trust, without revealing specifics that you want to keep private. In some states, this document is called a 'certification of trust.'

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

INHERIT

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will... (more...)

To receive property from someone who has died. Traditionally, the word 'inherit' applied only when one received property from a relative who died without a will. Currently, however, the word is used whenever someone receives property from the estate of a deceased person.

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

SAMPLE LEGAL CASES

Dunn v. Patterson

... for them. The circuit court of Will County entered judgment on the pleadings, finding, as a matter of law, that provisions in certain estate planning documents prepared by defendant were contrary to public policy and void. The ...

Fitch v. McDermott, Will and Emery, LLP

... Around the same time, defendants Joseph Dietrich and John Dietrich (hereafter the Dietrichs), both certified public accountants, provided financial and accounting services for estate planning purposes to Victoria and her husband, plaintiff Thomas Fitch. ...

In re Estate of Henry

... Accordingly, the estate petitioned the court to allow the estate to execute estate planning documents for Henry which, it contended, were consistent with his known wishes and which would be "free from the taint of the undue influence and fraud which was assembled upon the ...

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Chicago Estate Planning Lawyer, Illinois, page 5

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Jason A. Doran

Edward G. Schussler

Betsy Kadus

Mimi L. Turney

James J. Riebandt

Kathleen R. Ryding

Robert E. Jones

John Dirk Gutzke

Bret R. Klemetson

Lawrence A. Stein

TIPS

LEGAL TERMS

ENTITY

ABSTRACT OF TRUST

TRUSTEE

GRANT DEED

SPENDTHRIFT TRUST

TESTAMENTARY TRUST

INHERIT

ESTATE TAXES

CONTINGENT BENEFICIARY

SAMPLE LEGAL CASES

Dunn v. Patterson

Fitch v. McDermott, Will and Emery, LLP

In re Estate of Henry

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