Modern Family Estate Planning – Why Use a Living Trust?

Web Admin - Friday, October 20, 2017

Arlington Heights wills and trusts attorneyToday’s family looks much different than those from just 50 years ago. People no longer feel obligated to stay in a marriage that is not working, divorcees sometimes remarry, partners opt for cohabitation over remarriage, and there may be children from one marriage or both. While, in many ways, blended families are a positive thing – especially for kids – it does make estate planning much more complicated than it once was. A living trust can mitigate against many of these issues. Learn how with help from the following.

Potential Blended Family Pitfalls

People can cause some serious problems by either not having an estate plan or creating an ineffective one. The chief issue is that heirs could experience unnecessary financial difficulty while trying to muddle through the expensive and arduous probate process. Several other pitfalls must be addressed as well, however, especially in blended family estate planning. Consider some of the following possible examples:

- A father intended to leave everything to his children, but he failed to check his beneficiaries and update his estate plan. His home and other assets ended up going to his former wife. 

- A step-child expected to receive an inheritance, but the estate plan was unclear and state law does not provide for step-children. They receive nothing;

- A child inherits their father’s antique rifle, but it was promised to another child from a previous marriage;

- A husband dies and leaves his assets to his wife. When she passes away, she leaves everything to her children from a previous marriage. His children inherit nothing.

A Living Trust Can Mitigate the Risks

While it may be impossible to remove all risk of heirs fighting over an inheritance, there are several strategies that guarantors can use to mitigate against the possible damage of probate, tax consequences, family squabbles, debtors, and other common issues. The most effective tool is the living trust (revocable, irrevocable, marital, etc.). Each type works a little differently, but the primary goal is to ensure that the right person receives the right assets. Set up properly, a trust can also mitigate against spendthrift issues, ensure that even extended branches of family receive assets, and can even be specifically designated for certain expenses or needs (such as with college students, special needs children, or an ex-spouse who happens to be the other parent of your minor child). 

Why Plan Now?

No one wants to think about their death or the death of their spouse, and many dream of the death of their ex-spouse - which is why it can be easy to put off planning for it until you start to age. Sadly, not planning now can have severe consequences if an accident or incapacitation occurs to you, your spouse, or your ex-spouse. Avoid the consequences of ineffective and non-existent estate plans by contacting an experienced wills and trusts lawyer today.

At Drost, Gilbert, Andrew & Apicella, LLC, we work in your family’s best interests. Dedicated and experienced, our Arlington Heights wills and trusts attorneys wills and trusts attorneys can handle even the most complex of situations with skill. Call 847-934-6000 and schedule your personalized consultation today.

About the Author: Attorney Jay Andrew is a founding partner of Drost, Gilbert, Andrew & Apicella, LLC. He is a graduate of the University of Dayton School of Law and has been practicing in estate planning, probate, trust administration, real estate law, residential/ commercial leasing, contracts, and civil litigation. Since 2005, Jay has been a Chair of the Mock Trial Committee for the Annual Northwest Suburban Bar Association High School Mock Trial Invitation which serves over 240 local Illinois students each year.


Recent Posts


vacation home fines insurance claim denials real estate closing insurance denials controlled substance Barrington employment law firm Class A misdemeanor Illinois pet lawyer Des Plaines claims law firm Buffalo Grove law firm Barrington attorney DNR Illinois corporate lawyer power of attorney for healthcare Illinois business law atorneys PTSD FSLA traffic deaths medical malpractice compensation cell phone living wills Illinois insurance claim attorney Chicago insurance claim attorneys license Buffalo Grove traffic lawyers DUI penalities criminal defense Illinois personal injury Des Plaines insurance attorney Rolling Meadows accident lawyer Chicago corporate attorney life insurance personal injury accidents no contest clauses health insurance dispute rollover car crashes Crystal Lake medical malpractice attorneys Illinois employment attorneys Barrington real estate lawyer suspended license motorcycle accident Illinois wrongful termination lawyer Illinois living will Landlord Tenant Ordinance Buffalo Grove personal injury lawyer Palatine traffic lawyer Palatine construction attorney Chicago will attorney, social media platforms, Illinois estate planning lawyer, Palatine punch death motorcycle accident lawyer home inspection lawyer healthcare cell phone accidents Rolling Meadows tax attorney Federal Food Drug and Cosmetic Act estate planning trusts Illinois insurance attorney Buffalo Grove corporate attorney trench injuries creditors hiring employees drug crimes lawyer construction accidents medical malpractice claims Illinois driving without license Employment Discrimination Law manufacturing Illinois medical malpractice case vacation home wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace Deer Park real estate law firm Barrington business law firm hands free device Long Grove wills and trusts attorneys unfunded trust Palatine employment lawyer car accident Schaumburg construction contracts Illinois home inspection corporate law disability benefits Crystal Lake tax lawyer new real estate form marijuana Illinois employment law Deer Park DUI lawyer Des Plaines personal injury lawyer Illinois construction accident attorney small business Illinois workplace discrimination attorney Illinois Transfer on Death Instrument Rolling Meadows insurance dispute lawyers, insurance dispute Illinois injury lawyer rollover accidents Inverness real estate lawyer preventable medical errors Crystal Lake employment lawyer surgical mistakes Rolling Meadows drug defense attorney Crystal Lake personal injury attorney insurance dispute attorney IRELA attorney fees Schaumburg criminal attorney Deer Park medical malpractice attorney Rolling Meadows marijuana attorney Illinois workers compensation lawyer license suspension insurance dispute murder Kenilworth estate planning lawyer DUI attorney Palatine criminal defense lawyer power of attorney cell phone tower data BAC bad faith insurance claims Palatine law firm Buffalo Grove criminal defense lawyer Joliet general practice lawyers Policy Cancellation estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, Barrington boating accident attorney Illinois employee rights attorney. unpaid overtime real estate leasing Chicago trucking accident attorney Illinois workplace lawyer underinsured motorist real estate zoning Schaumburg probate attorney Inverness real estate attorney Crystal Lake business law attorneys estate planning lawyer Schaumburg insurance lawyers Deer Park traffic accident attorney probate claims Illinois car accident attorney sexual images Detainer Actions insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys living trust vs will Arlington Heights criminal lawyer gift taxes employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, Illinois motorcycle accident lawyer crossover accidents filing a medical malpractice claim pay when paid contract insurance claim denial workers compensation benefits Barrington Illinois estate planning lawyer capital gains tax work unions taxes changes to mortgage law insurance denial appeals personal injury lawyer Illinois estate planning law firm denied insurance claims Arlington Heights employment attorney Palatine employment attorney elder law wrongful termination Crystal Lake car accident attorney natural gas explosion independent contractor Chicago traffic lawyer Illinois estate planning Do Not Resuscitate Palatine estate planning lawyer underage DUI Liquor Control Act probate boating DUI Illinois traffic accident lawyer Buffalo Grove injury lawyer trust payments Palatine corporate attorney insurance claims Barrington criminal defense lawyer Schaumburg Attorney liability claims field sobriety test Arlington Heights tax lawyer probate process medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Rolling Meadows traffic attorney guardianship attorney Arlington Heights wills and trusts lawyer Crystal Lake traffic attorney South Barrington real estate lawyer personal injury law firm Des Plaines real estate attorney Barrington civil litigation attorney Schaumburg employment attorney Des Plaines pet law attorney Mount Prospect elder law attorney Inverness injury lawyer Mount Prospect wills and trusts lawyers probate lawyer jet ski accidents Des Plaines motorcycle accident attorney Legal Info Illinois Probate Act of 1975 holiday statistics Chicago estate planning lawyer expungement Illinois employment law attorneys Whistleblower Claims Illinois employment laws Colin H. Gilbert POA ACA pedestrian accidents employee misclassification Barrington Traffic Lawyer Palatine corporate law attorneys Rolling Meadows personal injury attorney Schaumburg personal injury lawyers personal injury Barrington medical malpractice lawyers digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Jay Andrew murder defense Illinois probate lawyer deadly crashes mortgage Schaumburg criminal law attorney breathalyzer test Palatine drug lawyer Crystal Lake pet attorney criminal civil rights violation fiduciary rule Illinois medical malpractice claim slip and fall Arlington Heights trucking lawyer estate planning living trust Rolling Meadows insurance dispute lawyers employment lawyer Colin Gilbert truck collisions Schaumburg injury lawyer Illinois LLC creation Illinois trusts attorney GM ignition switches Arlington Heights wills and trusts attorney Illinois criminal defense attorney Deer Park employment law attorney condo life insurance policy Inverness personal injury attorney Illinois estate planning attorney Chicago employment attorney criminal record Thanksgiving head on collisions swimming pools pedestrian accident investment property rumble strips Illinois business lawyer drugs Illinois bicycle safety Arlington Heights Attorney Illinois small business Illinois insurance lawyer severance agreements Des Plaines tax law firm Rolling Meadows employment law attorneys Illinois insurance claim dispute lawyers distracted driving accidents Crystal Lake injury attorney real estate attorneys probate claims process Inverness traffic law firm traffic offenses advance healthcare directive criminal law real estate car accidents spinal cord injuries fault based insurance pet bites Schaumburg car accident attorney unpaid assessment Buffalo Grove insurance claim dispute lawyers Des Plaines Illinois attorney Long Grove estate planning Illinois employment lawyer problem employees Buffalo Grove real estate attorney Illinois defective products attorney medical malpractice BAIID Self-Directed IRA Accounts sole proprietorship Inverness accident lawyer Illinois Sales Representative Act School Visitation Rights Act traffic tickets boating under the influence Schaumburg employment law attorneys Family Medical Leave Act Attorney Ken Apicella estate planning attorney Arlington Heights estate planning attorney Rolling Meadows boating crash lawyer Rolling Meadows real estate attorney Rolling Meadows estate planning attorney commercial leases Buffalo Grove medical malpractice lawyers DUI defense Chicago lawyer subcontractor Des Plaines civil attorney Des Plaines Traffic Lawyer Fourth of July Rolling Meadows corporate lawyer Rolling Meadows Attorney denied insurance claim dram shop law Arlington Heights car crash attorneys insurance claim delay rest breaks LLCs Rolling Meadows litigation lawyer Deer Park criminal attorney Deer Park accident attorney Deer Park traffic lawyer employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys Schaumburg traffic lawyer Crystal Lake accident attorney Long Grove estate planning attorney texting while driving slip and fall accidents car crash workers compensation Arlington Heights lawyer hit and run accident business litigation Arlington Heights real estate lawyer Long Grove estate planning attorneys Palatine civil attorney traffic accidents agent car collision Illinois personal injury lawyers drunk driving statistics Super Mario Buffalo Grove car accident lawyer Crystal Lake law firm Schaumburg elder law lawyer insurance claim dispute pizza emoji rent to own real estate contracts Crystal Lake personal injury lawyer Illinois wills and trusts attorneys workplace sexual harassment Deer Park personal injury lawyer Schaumburg drug defense lawyer operating agreements Arlington Heights Traffic Lawyer Arlington Heights traffic attorney Retaliatory Discharge Crystal Lake pedestrian accident lawyer auto accidents Kenilworth estate planning attorney Illinois real estate landlord tenant law Home Sale Contingencies drug possession Barrington workers compensation attorney Chicago employment lawyer Illinois insurance dispute lawyers Illinois insurance claim dispute lawyer Crystal Lake employment attorney texting and driving Barrington estate planning attorney medication errors Illinois collections attorney startup company Crystal Lake criminal defense attorney employees landlord owner responsibility estate tax defective products forming a corporation in Illinois Rolling Meadows employment law attorney employee discrimination Barrington drug crime attorney IRS commercial real estate traffic laws DUI jet ski compensatory time Chicago will attorney pregnant women insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys eluding a police officer Illinois medical malpractice attorney wills insurance agent negligence life insurance claims Arlington Heights accident attorney Illinois mortgages Illinois traffic ticket lawyer appealing an insurance claim civil litigation Inverness estate planning lawyer Schaumburg wrongful death attorney Buffalo Grove employment lawyer dealing with problem employees drug crime Illinois trusts Barrington personal injury attorney loopholes murder charges Illinois medical malpractice lawyers Illinois trucking safety low-ball insurance settlement Deer Park motorcycle accident lawyer federal crimes elder abuse social media after death drug crimes Forcible Entry meal breaks traumatic brain injury license revocation Arlington Heights medical malpractice lawyer car crashes Schaumburg medical malpractice lawyer overtime violations automated cars pedestrian-automobile accident caregiver wrongful death foreclosed rental property Illinois insurance disputes dog bites Rolling Meadows employment attorney boating accidents IRA benefits Illinois wills and trusts right to work Des Plaines medical malpractice attorney CAM workers comp Illinois DUI attorney Arlington Heights pedestrian accidents bike accident deed transfer Illinois will lawyer Illinois employment law firm nursing home negligence involuntary manslaughter icy parking lots Illinois insurance claims lawyers overtime pay Barrington litigation attorney Arlington Heights personal injury lawyer irrevocable trust Illinois jet ski accident lawyer ObamaCare Rolling Meadows traffic law firm insurance claim dispute attorney Schaumburg civil litigation attorney trauma after an accident Arlington Heights car accident lawyer accidental death benefits Crystal lake insurance dispute attorney installment contracts Mt Prospect Attorney Palatine injury attorney Illinois speeding lawyer internet estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers Des Plaines DUI attorney Crystal Lake bike accident lawyer Palatine probate lawyer Illinois personal injury lawyer blood alcohol content Arlington Heights employment law attorneys comp time Riverwoods estate planning lawyer preventing accidents Kenilworth estate planning attorneys product liability Palatine workers compensation lawyer digital assets Illinois Smoke Detector Act gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys Chicago insurance law firm Des Plaines accident attorney Affordable Care Act speeding Inverness probate lawyer natural gas Illinois Trust Code whistleblower protections income distribution deducation insurance adjusters probate fees Chicago car accident lawyer employment contract bicycle dooring accidents Illinois Workers’ Compensation Commission Illinois workers compensation attorney Illinois traffic laws construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation federal regulations for LLCs Rolling Meadows medical malpractice lawyers Illinois Human Rights Act trucking accidents Illinois personal injury attorney job lawyers Rolling Meadows IRA trust transfer mass shooting Palatine insurance lawyer Palatine civil litigation lawyer underfunded trust Mount Prospect real estate lawyer Illinois Wage Payment and Collection Act foreclosure car accident lawyers Rolling Meadows Traffic Lawyer Illinois rollover accident lawyers Illinois elder law attorney Long Grove real estate attorney revenge porn Des Plaines personal injury attorney employment law Rolling Meadows personal injury lawyer caretaker rights Arlington Heights injury attorney Barrington estate planning lawyer senior citizens privacy laws pedestrian injuries, pedestrian fatality insurance negligence license reinstatement estate planning for college students special needs trust Des Plaines real estate lawyer in terrorem provision reckless homicide golf accidents liens products liability South Barrington real estate attorney Illinois civil litigation lawyer Rolling Meadows insurance attorney Arlington Heights TBI attorney Schaumburg corporate attorney Des Plaines drug crimes lawyer Deer Park workers compensation lawyer Palatine personal injury lawyer college kids Barrington personal injury lawyer unauthorized overtime FMLA anesthesia errors DMV Schaumburg personal injury attorney personal injury claims Palatine real estate lawyer contracts real estate attorney Crystal Lake employment law attorney condo association Chicago attorney spinal cord injury homestead rights trustee dynasty trusts insurance claim liability Des Plaines personal injury lawyers Rolling Meadows car accident lawyers Des Plaines drug lawyer Crystal Lake will lawyer car accident lawyer llinois Real Estate Lawyers Association Transfer on Death Instrument Barrington injury attorney Illinois pedestrian accident attorney ken apicella Palatine Attorney Des Plaines injury law firm pet law Fair Labor Standards Act Illinois real estate lawyer drunk driving Rolling Meadows insurance lawyer Buffalo Grove probate lawyer personal injury attorney Rolling Meadows criminal attorney TBI employment attorney tax attorney Arlington Heights wills and trusts lawyers Inverness DUI lawyer financial advisors Exclusions Chicago estate planning civil litigation attorney Palatine employment law lawyer Long Grove real estate lawyer Crystal Lake medical malpractice lawyer breach of contract trucking accident lawyers first degree murder Rolling Meadows criminal lawyer Arlington Heights insurance attorney Crystal Lake insurance lawyer denial of life insurance insurance attorney loss of consortium estate attorney defective products lawyer Inverness corporate attorney Schaumburg construction accident lawyer digital information Illinois boating accident lawyer uninsured motorist insurance disputes Illinois lawyer Crystal Lake estate planning lawyer real estate contract driving Barrington employment attorney comparative negligence modern family estate planning Food and Drug Administration's Food Safety Modernization Act privacy blended families paid sick leave Illinois employment law attorney Palatine business attorney residential real estate Illinois traffic attorney healthcare claims personal injury claim fatal car accidents Inverness insurance attorney Crystal Lake medical malpractice law firm Palatine traffic accidents medical research Inverness elder law lawyer Schaumburg estate planning attorney DGAA clemency Palatine elder law attorney estate plan Palatine trusts lawyer traffic violations digital media accounts, estate planning, Arlington Heights estate planning attorney, Illinois registered agent Home Remodeling Repair Act Buffalo Grove traffic attorney Schaumburg personal injury lawyer institutional trustee premises liability Rolling Meadows business lawyer Inverness civil lawyer personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys food poisoning Barrington employment law attorney wage theft fiduciary rule delay Crystal Lake car accident lawyer Rolling Meadows probate lawyer consent to a search car crash injuries Illinois red light cameras real estate lawyer pain and suffering minimum wage distracted driving accident victims digital evidence Schaumburg estate attorney Crystal Lake traffic lawyer child safety sexual harassment Rolling Meadows personal injury lawyers Des Plaines criminal attorney Illinois tax attorney Chicago biking tips Schaumburg estate planning lawyer Schaumburg real estate lawyer medical marijuana traumatic brain injuries wills and trusts commercial leasing traffic crimes life insurance lawyer employment law, Illinois employment laws marijuana crimes attorney Buffalo Grove personal injury attorney Illinois traffic attorneys traffic violations defense Rolling Meadows DUI lawyer Illinois law insurance agents brain injury back injuries Barrington criminal lawyer Arlington Heights personal injury attorney living trust benefits Arlington Heights wills and trusts attorneys Des Plaines collections attorney employee rights Crystal Lake civil litigation lawyer Illinois job attorney bicycle accidents BUI