Robert J. Kolasa

Drafting Wills and Trust in such a manner to ensure that WHAT your own, goes to WHO you want, WHEN you want and HOW you want.A well-crafted estate plan should provide for your loved ones in an effective and efficient manner by avoiding guardianship during your lifetime, probate at death, estate taxes and unnecessary delays. Once your estate plan is in place, you will have peace of mind knowing that you have provided for yourself and family members in case the worst happens.

Trust Administration. After a client's death, efficient trust settlement requires a thoughtful process to pay debts (including estate taxes) and distribute the assets to beneficiaries. Prompt action, a sound plan to share information, and careful handling of sensitive issues such as disposing of personal effects can lead to a more productive settlement.

Estate and Gift Taxes. Estate and gift taxes are confiscatory taxes which may devour over 50% of your estate. There are proven and successful ways to proceed in order to reduce or eliminate your estate tax burden. Additionally, it takes specialized skill to file with the IRS and Illinois Department of Revenue the complicated estate tax return, which is due 9 months after death for large estates.

Probate Administration. When an Illinois resident passes away with over $100,000 in his or her own name, the decedent’s estate then may be required to go through a court ordered settlement process called “probate.” Probate is generally needed to “unfreeze” assets owned solely in one’s name at death. Probate can be a time-consuming, frustrating, and expensive process.