Hi, my name is Tom Olofsson. I’m an estate planning attorney. And I serve clients in the Orland Park area. Thanks for coming to my website. I have something that I’d like to give you that is very special. But first I’d like to tell you a little bit about my practice.
What is probate? How long does probate take?
How much does probate cost?
Probate is the court supervised process where the judge determines what it is you owned, determines whether you had a will and what the will says, whether it’s valid and then applies your will to the stuff you own. It also makes sure that your bills are paid and that everyone is treated fairly. It’s a nice process in theory and it works well when it is needed. It is mostly unpopular because it takes a long time, two years is very common in Cook County and in surround counties in Illinois. So that’s one to two years that your family has to re-live that you died. They don’t really get a chance to grieve properly until the probate is over because they still have to re-live it all of the time; every time they get a letter from the lawyer.
Whenever they get a letter from the lawyer they have to do it over again so it’s uncomfortable for families. In addition, it typically costs around five percent of the estate. There isn’t a hard and fast rule in Illinois as to how much probate should cost, but an average is usually reported around five percent of the estate. So on a million dollar estate that would be around fifty thousand dollars’ worth of cost which most people tell me that they would rather have that money go to their family rather than to legal fees and as much as I would argue with them that legal fees are a good thing they usually feel that we do what they want.
Now what I’d like you to do is go to my website and find out how you can get a free review of your existing trust documents to see if they come up to our standards. I can also arrange for you to get free access to twenty videos that answer your most often asked questions. They give you some guidance as to what you should be looking for. Now if you don’t have existing trust documents or you have a particular question that has been bothering you, you’re welcome to call my phone number which is 773-905-1193 and we’ll set up a complimentary consultation.
Orland Park Living Trust Questions