Estate Planning Lawyers
Our lawyers have particular experience in preserving assets for wealthy families through estate planning. Unlike most people, individuals with significant wealth are subject to state and federal estate taxes upon death. Without proper planning, taxes could consume a large portion of an individual’s wealth after death, leaving heirs with much less than the deceased intended.
At the Barrington, Illinois, law firm of Kelleher & Buckley, LLC, our lawyers counsel and represent clients with significant assets in the Chicago region. We provide estate planning services designed to preserve wealth both before and after death. To develop comprehensive plans that match our clients’ goals and circumstances, we consult with professionals in fields such as taxation, real estate, business valuation, securities and in any other area relevant to our clients’ situations.
Developing Estate Plans Tailored to Our Clients’ Circumstances
We develop estate planning solutions tailored to our clients’ needs and circumstances. This often means employing mechanisms such as multigenerational trusts, family limited partnerships and corporations. Other strategies can include gifting, charitable trusts and pre- or postnuptial agreements. Most large estates benefit from using multiple strategies. Our attorneys are well versed in the options available to the wealthy.
Some of our clients possess estates in excess of $100 million in value. Estates of this size can benefit from the creation or reorganization of multiple, multigenerational trusts, partnerships and corporations. For example, our firm has provided estate and business planning services to a family with a net worth of $270 million and successfully saved this family approximately $70 million in taxes upon the death of a parent.
Our attorneys not only help clients preserve their assets, we also teach others how to do it. Our lawyers speak at continuing legal education seminars (CLEs) and other venues to spread the word about estate planning options available to the wealthy. If estate planning is done correctly and in a timely way, it is possible to preserve a much larger portion of an estate.