Edward J. Schoen, Jr.

Edward J. Schoen, Jr. is the sole shareholder of Edward J. Schoen, Jr., P.C. located in Orland Park, Illinois. Mr. Schoen is a Wealth Preservation Attorney concentrating his practice in the areas of Trusts, Estates, Probate, Federal and State Income, Estate and Gift Taxation, Real Estate, Corporate Law and Asset Protection. In addition to being an Attorney, Edward J. Schoen, Jr. is a Certified Public Accountant and has a Masters of Science in Taxation.

His clients include high net worth individuals and families, doctors, attorneys, entrepreneurs, business owners and retired individuals who have net worths ranging from several hundred thousands to tens of millions of dollars. Over the 25 years he has been in practice, he has drafted hundreds of Wills, Revocable Trusts, Irrevocable Trusts, Buy/Sell Agreements, Pre-Martial Agreements, Asset Sale Agreements and numerous contractual obligations.

As a service to his clients, he also represents clients in buying and selling their residential and commercial real estate. In addition, because of his strong Tax background, he prepares the Federal and various State income tax returns for many of his individual estate planning clients and their related entities. Another part of his practice is counseling clients on the correct way to hold title to their assets and what type of entity they should establish to best protect their assets.

He represent Executors, Administrators, Guardians and Trustees in the various Probate and Chancery Courts regarding the administration of decedent’s and disabled person’s estates and trusts. He has probated estates in Cook, Will and DuPage Counties. In addition, he prepares the Federal Estate Tax returns and Federal and Illinois Fiduciary Income tax returns for decedents and their estates/ trusts upon their death.

He represents clients before the Internal Revenue Service and the Illinois Department of Revenue regarding outstanding tax liabilities. He has successfully negotiated favorable settlements for clients utilizing Installment Agreements,the Appeals Process and Offers in Compromise.

Mr. Schoen counsel’s clients in structuring aggressive gift giving programs to effectively reduce the client’s overall estate tax burden by utilizing appropriate valuation discounts for lack of marketability, minority interest discounts and taking full advantage of the annual exclusion for present interest gifts and the unlimited gifts tax exemption for tuition and medical expenses.

Finally, he advises clients in the area of Asset Protection. Complete Asset Protection is when you utilize a Foreign Integrated Asset Protection Trust as the keystone of your estate plan which can protect the majority of your assets in the event you are sued and a sizable judgment is entered against you.

  • Juris Doctor, Loyola University School of Law, Chicago, Illinois
  • Masters of Science in Taxation. DePaul University,Chicago, Illinois
  • Bachelor of Business Administration, Loyola University, Chicago, Illinois
  • Certified Public Accountant – Illinois

Edward J. Schoen, Jr. is admitted to practice in :

  • All Illinois State Courts
  • United States Tax Court
  • U.S. District Court for the Northern District of Illinois
  • U.S. District Court for the Central District of Illinois

Edward J. Schoen, Jr. is a member of:

  • Illinois State Bar Association-Federal Taxation and Trusts/Estates divisions
  • South Suburban Estate Planning Council,
  • American Academy of Attorneys – Certified Public Accountants,
  • American Institute of Certified Public Accountants
  • Past President of The Illinois chapter of the American Academy of Attorneys – Certified Public Accountants.