Estates, Wills & Trusts

Estate Planning

Christian G. Spesia and Bradley S. McCann have years of experience drafting and implementing basic and complex estate plans that are specifically tailored to the desires of each individual client, minimize estate and income tax to the estate, and avoid probate when warranted. In addition, these attorneys have worked extensively with clients in the administration of their estates and trusts upon the death or incapacity of the testator or settlor.

The Estate practitioners at Spesia & Taylor possess comprehensive knowledge and experience in all aspects of estate planning. Even so, they remain committed to their ongoing education in this area and regularly attend estate planning seminars, presentations, and workshops, as well as giving presentations to local groups. For our attorneys, drafting an estate plan is not a simple matter of listing and disposing of assets; when you retain one of our attorneys to assist with your estate planning you can be sure that they will review your current assets and then craft a unique plan that is specifically designed to accomplish your goals with as little tax liability as possible.

The estate planning attorneys at Spesia & Taylor have extensive experience in creating and implementing uncomplicated estate plans through various vehicles such as:

Wills
Declarations of Trust
Powers of Attorney for Health Care
Powers of Attorney for Property
Medicaid planning for the preservation of assets

In addition, the estate planning attorneys at Spesia & Taylor also have the necessary understanding and experience to create and implement complex planning tools for estate, gift and generation tax planning through the use of various vehicles such as:

Irrevocable Insurance Trusts
Charitable Remainder Trusts
Charitable Lead Trusts
Private Foundations
Private Annuities
Other Tax-Exempt Entities
Self-Cancelling Installment Notes
Heritage Trusts

Bradley S. McCann is both an attorney and also a highly qualified Certified Public Accountant who has, and continues to, prepare countless Federal and multi-state individual (Form 1040), corporate (Form 1120 and 1120S), partnership (Form 1065), tax exempt (Form 990), and fiduciary (Form 1041) income tax returns, as well as Federal and Illinois estate (Form 706) and gift (Form 709) tax returns.

In addition, Bradley S. McCann works extensively with high-net-worth clients with gross estates in excess of $40 Million. In certain cases, Bradley McCann has counseled clients through the use of charitable remainder trusts and family limited liability companies for extensive estate tax savings. One client, with Bradley S. McCann’s guidance, implemented a private family foundation and an irrevocable insurance trust that will result in the client’s estate avoiding the payment of approximately $12.5 Million in state and federal estate taxes. Every estate plan crafted by the estate planning attorneys at Spesia & Taylor complies with the strict guidelines set forth by state and federal statutes and the Internal Revenue Code.

Bradley S. McCann has worked with clients who are in second marriages to formulate an estate plan that seeks to protect assets in the new marriage, provide for the distribution of assets to the clients’ children upon their parents’ deaths, and provide a framework for the titling of assets with the new spouse.

Decedent’s Probate Estates
The attorneys at Spesia & Taylor have represented Testate (Will) and Intestate (no Will) Estates through all phases of probate and administration of the Estate. This includes the preparation of inventories, accountings, sale of real and personal property, and the final distribution to the heirs or legatees.

The attorneys at Spesia & Taylor have also worked with heirs and legatees in asserting their rights to contested estates. A representative case includes the successful prosecution of a multi-million-dollar oral contract to create a will in both the circuit and appellate courts.

Minor’s Guardianship Probate Estates
The attorneys at Spesia & Taylor have worked with family members in the Probate Division to secure their appointment as the Guardian of the Estate and Person of a minor in order for that family member to have the authority to act on the minor’s behalf. This representation included contested litigation in guardianship proceedings.

Disabled Adult’s Guardianship Probate Estates
The attorneys for Spesia & Taylor have represented parents in the Probate Division to secure their appointment as the Guardians of the Estate and/or Person of their disabled adult child. In addition, our attorneys have worked with children or other family members, often in contested proceedings, seeking to be appointed as the Guardian of the Estate and/or Person for a parent who has become disabled due to lack of capacity.

Special Needs Trusts (including OBRA Payback Trusts)
Bradley S. McCann regularly drafts Special Needs Trusts for disabled persons so that the disabled person may become or continue to be eligible for state and/or federal aid while preserving assets that have been or may be inherited by that disabled person from a parent, grandparent or sibling. These trust funds may then be used for the benefit of the disabled person to supplement any state and federal aid benefits he or she receives. These trusts are created within state and federal statutes and IRS guidelines to preserve any assets of a disabled person that may qualify for trust protection while allowing that disabled person to continue to be eligible for state and/or federal aid.