Estate Planning Lawyers in Schaumburg, IL

Your estate plan is the legal framework for your future. It outlines your wishes in a clear, enforceable way. This gives your family members the power they need to act on your behalf — or limits their ability to sow conflict.

At the Law Office of Fedor Kozlov, P.C., we analyze, modify, prepare, and maintain estate plans for our clients in Schaumburg and the surrounding areas. No matter how complex or straightforward your situation may be, we work with you to find a unique, creative solution. Call (847) 241-1299 to get started. Our estate planning lawyers are very experienced in Illinois estate planning law.

Illinois Estate Planning Strategists

We recommend various estate planning tools and strategies, depending on our clients’ needs. They include:

Will: This document is the core of nearly every estate plan. It should be clear, legal, and personalized. It is never too soon to have a will, so please contact us at any time. We are ready to assist you in drafting a new will or reviewing your current documents.
Trusts: Trusts are separate financial entities that basically own your property for you. They could protect your assets, ease transfer, or provide a tax benefit, among other things.
Powers of Attorney: A power of attorney gives someone else the ability to make important decisions for you. Contact us to learn more, including whom you could name and which powers you could endow.
Executing Powers of Attorney: Executing powers of attorney makes them legally enforceable. There are certain procedures you could observe to reduce the risk of conflict.
Advance Healthcare Directives: These documents direct people, in advance, with regards to your health care — hence the name. You may also know this as a living will. We help our clients clearly communicate their emergency healthcare wishes in a legally binding way.
Estate Planning During Divorce: Matrimony is a clear sign to review or establish an estate plan. That includes divorce, marriage, or the divorce or marriage of a close family member. Contact us to learn more about how changing family structures could impact inheritance.
Asset Preservation: Estate plans typically attempt to control and ease the transfer of wealth. However, asset protection strategies could be necessary to prevent estates from creditors in some situations.
Children From Previous Marriages: Many of our clients have complex family structures. Our goal is to create estate plans that work for everyone, which includes addressing all current obligations and wishes.
Business Continuity: Leadership succession and ownership transfer strategies are typically essential to the success of multigenerational businesses. We help our clients develop contingency plans to provide stability and security for their families and their clients.
Guardianship: In the absence of preparation, it could be possible to gain guardianship of loved ones to make decisions on their behalf. Virtually the only way to establish guardianship of an adult in Illinois is through an order from the circuit court. Success typically requires keen, relevant arguments and an understanding of the court system — please call us for assistance.
Planning vs. Probate: Probate is the process that people must use if a loved one dies without a will or trust. Probate involves the government and subjects the heirs to a judicial process where you can expect to pay at least $5,000; this can be much more if there are disputes. Having a valid estate plan can save you from that cost as well as save you the large amount of time that probate generally takes.

Estate planning is a vital and proactive process that empowers you to determine how your assets will be distributed after your death or in the event of your incapacity. By carefully crafting an estate plan, you can ensure that your wishes are honored and that your loved ones are financially protected. In Illinois, estate planning encompasses a variety of legal documents, financial strategies, and personal decisions aimed at preserving your legacy and providing for those you care about. Below are detailed answers to commonly asked questions to help guide you through this nuanced process.

Frequently Asked Questions About Estate Planning In Illinois

What is estate planning?

Estate planning is the comprehensive process of organizing your financial and legal affairs to manage and distribute your assets in accordance with your wishes after your death or incapacity. This intricate process typically involves drafting a will, establishing living trusts, designating beneficiaries for various accounts, and appointing powers of attorney. The overarching goal of estate planning is to minimize any legal complications, reduce tax liabilities, and prevent disputes among family members during what can be an already challenging time.

Do I need a will in Illinois?

Absolutely. A will serves as a fundamental legal document that articulates your desires regarding the distribution of your property and assets upon your death. If you pass away without a will, Illinois intestacy laws dictate the distribution of your estate, which may not reflect your personal wishes and desires. To be considered valid in Illinois, a will must be signed by you (the testator) and witnessed by two impartial individuals, ensuring that your intentions are clearly noted and upheld.

What happens if I die without a will in Illinois?

If you die intestate (without having created a will), your estate will be distributed according to the probate laws of Illinois. In general, the distribution process may look like this:

If you are survived by a spouse and children, they will typically share the estate equally among themselves.
If you leave behind no spouse or children, your assets will then be allocated to other relatives in a legally prescribed order, which can include parents, siblings, or more distant relatives.

This probate process can often be lengthy and cumbersome, and the outcomes may not align with your personal preferences or desires.

What is probate, and can it be avoided?

Probate is the judicial process of validating a will and overseeing the distribution of a deceased person’s assets. In Illinois, probate is generally required if the total value of the estate exceeds $100,000 or contains real estate. However, there are several strategies to potentially avoid the probate process altogether, including:

Creating a Revocable Living Trust – This legal entity can hold your assets during your lifetime and facilitate their transfer upon your death without the need for probate.

Naming Beneficiaries on Accounts – Utilizing designations such as Payable on Death (POD) or Transfer on Death (TOD) can allow assets to pass directly to named beneficiaries outside of probate.

Holding Property Jointly with Rights of Survivorship – This allows for the direct transfer of property to the surviving owner upon your death.

What is a living trust, and should I have one?

A living trust is a powerful legal tool that allows you to hold and manage your assets during your lifetime while smoothly transitioning them to your designated beneficiaries after your death—without undergoing the often lengthy probate process. A living trust can provide various benefits, including enhanced privacy, expedited asset distribution, and increased flexibility in managing your estate.

While not necessary for everyone, particularly those with uncomplicated estates, it can be particularly advantageous for individuals with complex financial situations, out-of-state properties, or a strong desire to maintain privacy regarding their financial affairs.

What is power of attorney, and why is it important?

A power of attorney (POA) is a critical legal document that grants another person the authority to make decisions on your behalf in the event that you become incapacitated. In Illinois, there are two primary types of POAs:

Durable Power of Attorney for Property – This document allows an appointed individual to manage your financial affairs, including paying bills and managing assets.

Durable Power of Attorney for Health Care – This gives your chosen agent the authority to make medical decisions on your behalf, ensuring that your health care preferences are respected. Without these important legal instruments, your loved ones might have to navigate a potentially lengthy and costly court process to seek guardianship over you.

How do I plan for minor children?

When it comes to estate planning for parents, it is essential to specifically address the care of minor children. This includes appointing a trusted guardian in your will to care for your children should something happen to you. Additionally, it’s wise to establish trusts to provide financial protection for your children’s futures, ensuring that funds are managed responsibly until they reach adulthood. While Illinois courts will give significant weight to your guardian nomination, they retain ultimate authority and will act in the best interests of your children.

Are estate taxes a concern in Illinois?

Yes, Illinois does impose an estate tax on estates valued at over $4 million, which can significantly impact your beneficiaries. This state estate tax is separate from the federal estate tax, which applies to estates exceeding $13.61 million as of 2025. Strategic estate planning—including the use of gifting strategies, charitable donations, or carefully structured trust arrangements—can help mitigate potential estate tax liabilities and maximize what your heirs ultimately receive.

How often should I update my estate plan?

It is recommended that you review and potentially update your estate plan every 3 to 5 years or after significant life events such as marriage, divorce, the birth of a child, relocation, or major financial changes. Changes in Illinois law may also affect your documents, so regular updates to your estate plan ensure that it remains valid, relevant, and aligned with your current wishes and circumstances. Regular reviews will help you approach estate planning with the diligence and foresight it requires to protect your legacy.

Contact Our Schaumburg Estate Planning Attorneys Today

Everyone starts planning for the future at a different stage in their life. Take the first steps now — Use our contact form or call our Schaumburg estate planning lawyers at (847) 241-1299 today to schedule a no-obligation consultation.