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Advanced Estate Planning

If you have done well financially, either through earnings, inheritance or lottery winnings, you might be a candidate for advanced estate planning. Advanced estate planning techniques are typically used to legally avoid or lessen estate taxes, achieve asset protection, and benefit multiple generations of your descendants. Advanced estate planning may also involve benefitting your favorite charities in ways that also benefit you.

Asset Protection Planning. Advanced estate planning tools and techniques can be used to help protect your assets from aggressive litigants (i.e., "Legal Predators"). Unfortunately, we live in a world where unscrupulous people seek out opportunities to file lawsuits. Although the Wilmette, Glenview and Northbrook estate planning attorney of Sylvester Law Firm is of the opinion that no asset protection planning is guaranteed to be 100% bullet-proof, he can assure you that there are time-tested asset protection tools that prove to be very successful at protecting your assets. Below is a list of many of the tools used to achieve asset protection.

Tax Planning. The Wilmette, Glenview and Northbrook estate planning lawyer of Sylvester Law Firm can prepare a customized, advanced estate plan to help you lessen or completely defeat estate, gift and generation skipping taxes. The use of advanced estate planning tools for potentially taxable estates proves to be very valuable. The cost of establishing an advanced estate plan is usually miniscule compared to the potential tax bite. Below is a list of some of the tools Sylvester Law Firm has used for estate tax planning.

Charitable Giving Planning. Perhaps you have a desire to make charitable gifts either before or after death. Clients often tell us that they don't know how to make advantageous charitable gifts, aside from periodically writing out a check, which may not always be affordable during your life. You may be hesitant to make charitable gifts during your life because of your unknown financial future. There are practical ways to address your concerns and still provide for your favorite charities. Advanced estate planning tools and techniques can be used to make charitable gifts that make sense.

Following are advanced estate planning tools that have been implemented by the Chicago estate planning attorney of Sylvester Law Firm:



  • Estate Tax Exemption Trust (also known as a "Family Trust" or "Trust B")
  • Qualified Personal Residence Trust
  • Grantor Retained Annuity Trust
  • Installment Sale to an Intentionally Defective Grantor Trust
  • Qualified Terminal Interest Property Trust
  • Limited Liability Company for Valuation Discounts and Leveraged Gifting



  • 2503(c) Minor's Gift Trust
  • Tuition Trust for Children or Grandchildren
  • "Crummey" Trust
  • 529 Education Savings Plan
  • Education IRA


  • Coordination of Non-probate Assets with Estate Planning Documents
  • Retirement Benefits Stretch-out Planning
  • Domestic Partnership Agreement / Pre-Nuptial Agreement
  • Business Buy-Sell Agreement
  • Qualified Domestic Trust for Non-citizen Spouses
  • Pet Trust

Everyone's situation is different. No two estate plans are the same. The days of the 1 - 3 page common "form" Will are over. It is important that you hire a north suburban Chicago estate lawyer who is experienced in advising on the use of advanced estate planning tools and techniques.

Advanced Estate Planning is complex, and you should only work with a Chicago estate planning attorney who has a dedicated focus on planning for complex situations. The Illinois, Wisconsin and Florida estate planning lawyer of Sylvester Law Firm has such a dedicated focus. Call us today at (847) 251-2999 to discuss how we can help you achieve your advanced estate planning goals.

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