Drafting a Trust In Bartlett, Illinois

Find the right Drafting a Trust attorney in Bartlett, IL

In Bartlett, Illinois, a trust is an arrangement in which property is held by one individual (the trustee) for the benefit of another (the beneficiary).

You might want to set up a trust for a wide number of reasons. It can be set up to guarantee that a child will have money for college, for instance, and that the child will only be able to use the money for that purpose.

A trust can make as many or as few allowances as the person creating it wants. For instance, a trust could be set up which permits the beneficiary to spend the money on educational expenses, and nothing else.

Because you, as the trustee, can decide the rules under which the trust operates, you could give the beneficiary the right to access the fund at any time, for any reason, essentially letting them do whatever they want with the money, if that's what you want to do.

What to Include in Any Bartlett, IL Trust

There are 4 distinct elements that must be present for any trust to be legitimate in Bartlett, Illinois. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be expressed.

Second, there must be a trustee. This is the individual who will administer the trust, and retain possession of the property or money that it contains, as well as being accountable for utilizing it to effectuate the trust's purpose.

Third, the trust needs to have a named beneficiary. The beneficiary is the individual who benefits from the trust.

Lastly, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Can A Bartlett, Illinois Trust Drafting Attorney Help?

While its' easy to list the basic elements that need to be present for a trust to be valid, the actual process of setting up a trust can be a little confusing. For that reason, seeking the counsel of a reliable Bartlett, Illinois attorney to help you set up a trust is probably a good idea.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Bartlett

Bartlett is surrounded by Illinois's Kane and DuPage Counties. It is a small area with a little over 42,000 people.

Some popular attractions in Bartlett include the Bartlett Park District Theatre, the original railroad station, and the Shri Swaminarayan Mandir with its adjoining cultural center called Haveli. Haveli is a large complex with large rooms decorated with intricately carved designs on stone and wood.

Although small, Bartlett is a great little area that welcomes a diverse population. Bartlett has a strong sense of community with a very unified spirit.

Bartlett residents look to nearby areas to seek legal advice. In general, Illinois has many great law schools and firms which significantly contribute to the legal force in Illinois. Therefore, Bartlett residents will never have to go very far to receive legal advice.

All in all, Bartlett is a wonderful community with small town charm!

Clients Rate LegalMatch Attorneys
(click to read reviews)

Regel B.
Regel B.

Wills, Trusts and Estates

Caldwell, LA

Brad M.
Brad M.

Wills, Trusts and Estates

Sussex, NJ

David L.
David L.

Wills, Trusts and Estates

Ashland, OH

Gotham Light