Chicago Trust and Estate Administration Attorney Advises Trustees
Illinois lawyer assists with the probate process
Johann Chau, JD provides guidance to individuals named as trustees or as executors of estates. I help ensure that you successfully uphold your fiduciary duties.
Trust administration requires careful attention to each detail of the grantor’s wishes. I assist clients with the administration of a wide variety of trusts, including:
- Credit shelter trusts (CST)
- Incentive trusts
- Living trusts
- Generation-skipping trusts
- QTIP trusts
- Charitable remainder trusts
- Irrevocable life insurance trusts
Meticulous administrative services
I have the extensive experience in all duties expected of a trust administrator, including:
- Investment of assets
- Management of assets
- Preparation of accountings
- Preparation of tax returns
- Distributions to beneficiaries
A trustee can be personally liable for mistakes or omissions that result in losses for the trust. I offer sound advice to trustees to ensure accurate and complete compliance with all aspects of trust administration. If you have been named a trustee, I strongly recommend that you retain professional assistance from a trustworthy source.
I can guide you through all aspects of probate and estate administration, including:
- Filing the will with the Illinois probate court
- Developing the best strategy for fairly and expeditiously probating the estate
- Finding and collecting assets
- Closing and opening bank accounts
- Transferring assets from the deceased to the estate
- Paying estate taxes
- Valuing, managing, preserving and liquidating the estate
- Locating beneficiaries
- Hiring experts, when appropriate
Valuing and managing the estate
I assist executors with the arduous process of collecting, managing, valuing, protecting and liquidating the assets of the estate. When appropriate, I call upon accountants, financial advisors, real estate agents, property managers and other professionals to assist with executor duties. I can access expert opinions about unique assets such as antiques, rare books, automobiles and other collectibles for accurate valuation, management and possible sale.
Contact a thorough estate and trust administration lawyer
Johann Chau, JD serves clients in Chicago and throughout Illinois. Call 312-275-2447 or contact me online to schedule a consultation.