Wills and Estate Planning

More than half of The Koenig Law Firm’s practice involves wills, trusts, estate planning and litigating estate-related matters. Phil Koenig began practicing estates and trusts law in Geneseo, Illinois, where he gained experience with the highly regarded estate tax planner Robert H. White. During the 1970s, Phil began working with a considerable number of farmers who had specialized needs.

will-estate-planning-largeDogged Determination

After practicing law for several years at a Rock Island law firm, Phil started a solo practice that focuses heavily on his technical understanding and intense legal curiosity about estate planning. He is known for dogged determination in achieving solutions for his clients.

Personal Attention

Phil takes sufficient time and listens closely enough to clients to gather any relevant information about their financial and family situation. Together you will inventory your real property and personal property, such as homes, vacation property, automotive vehicles, jewelry, housewares and collectibles. Phil will analyze your business interests, including any family businesses and stock options. He will look at your retirement assets — such as IRAs, 401(k)s, pensions and deferred compensation — and at financial assets including bank accounts, investments and insurance benefits.

Together you will effectively construct a plan that manages the division and distribution of your wealth and property. When needed, provisions for the care of your minor children will be made through the appointment of a guardian.

Advice on Living Trusts

Phil often advises clients to consider the benefits of living trusts, which also are known as active or inter vivos trusts. By setting up a trust, clients create a legal entity that owns their assets. This arrangement allows rules to be established for the management and distribution of assets. During your lifetime, the rules can be changed or amended. Upon your death, property will be divided and distributed according to your wishes. The process avoids a court-supervised probate proceeding, which can take time and drain expenses. Such trusts can be especially helpful in dealing with tax issues or in addressing the special needs of family members.

Contact Us

Phil Koenig assists many individuals and families who are interested in learning more about how a will, trust, or estate plan can work effectively for them. Contact Phil today so he can begin to help you.