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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
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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

Arnold S. Newman

Accident & Injury, Malpractice, Products Liability, Personal Injury, Estate

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18400 Maple Creek Drive, Tinley Park, IL 60477

Robert A. Heap

Criminal, Residential Real Estate, Estate Planning

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Naper Office Plaza, 552 S. Washington Street, Naperville, IL 60540

Thomas J. Homer

Landlord-Tenant, Estate Planning, Guardianships & Conservatorships, Elder Law

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1770 North Park Street, Naperville, IL 60563

Carrie Buddingh

Corporate, Estate Planning

Status: In Good Standing

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1776 Legacy Circle, Naperville, IL 60563

George J. Witous

Real Estate, Estate Planning, Estate, Family Law

Status: In Good Standing

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10600 S. Cicero Avenue, Oak Lawn, IL 60453

Daniel William Witous

Real Estate, Estate, Divorce & Family Law, Business

Status: In Good Standing

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10600 S. Cicero Avenue, Oak Lawn, IL 60453

Robert Charles Bodach

Real Estate, Estate, Business

Status: In Good Standing Licensed: 50 Years

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1204 Buell Ave, Crest Hill, IL 60435

John Joseph Hornicak

General Practice

Status: In Good Standing Licensed: 33 Years

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1518 Mayfield St, Crest Hill, IL 60435

Bradley Shawn Mccann

International Tax, Divorce, Estate Planning, Transactions

Status: In Good Standing Licensed: 27 Years

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1415 Black Road, Joliet, IL 60435

800-923-0641

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LEGAL TERMS

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

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.

TESTAMENTARY TRUST

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

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

DEVISEE

A person or entity who inherits real estate under the terms of a will.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

SAMPLE LEGAL CASES

In re Estate of Feinberg

This case involves a dispute among the surviving children and grandchildren of Max and Erla Feinberg regarding the validity of a trust provision. The circuit court of Cook County found the trust provision unenforceable on the basis that it is contrary to the public policy of the state ...

In re Estate of Feinberg

In re ESTATE OF Max FEINBERG, Deceased (Leila R. Taylor, as Independent Coexecutor of the Will of Max Feinberg, Deceased, Plaintiff-Appellant, v. Michael B. Feinberg, Individually and as Coexecutor of the Will of Max Feinberg, Deceased; Fifth Third Bank, as Trustee under ...

In re Estate of Ellis

Grace Ellis executed a will in 1964 naming Shriners Hospitals for Children (Shriners) as beneficiary of her estate if she died without direct descendants. In 1999, she executed a new will naming James G. Bauman as sole beneficiary. Bauman was the pastor of the church of which ...

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Joliet Estate Lawyer, Illinois, page 2

Sponsored Law Firm

Lynch Law, LLC

SPONSORED LAWYERS

Edward G. Schussler

Arnold S. Newman

Robert A. Heap

Thomas J. Homer

Carrie Buddingh

George J. Witous

Daniel William Witous

Robert Charles Bodach

John Joseph Hornicak

Bradley Shawn Mccann

TIPS

LEGAL TERMS

INCOMPETENCE

FINAL BENEFICIARY

ALTERNATE BENEFICIARY

INTESTATE

ESTATE TAXES

TESTAMENTARY TRUST

EXEMPTION TRUST

DEVISEE

SPECIFIC BEQUEST

SAMPLE LEGAL CASES

In re Estate of Feinberg

In re Estate of Feinberg

In re Estate of Ellis

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