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Principled Advocacy For Families And Individuals With Disabilities And The Professionals Who Serve Them
When planning your estate, you should consider the tax implications for you and your beneficiaries. While Illinois does not have an inheritance tax, your estate may be subject to federal and state estate taxes. Review the factors that affect estate taxes in Illinois...
You may know that you need to review your estate plan often and make changes when something changes in your life, but do you know how to do that? Auditing your estate plan can help you to avoid mistakes and reduce issues. Forbes explains that during an audit, your...
Illinois has many laws in place that govern how estate plans look and function. These are there to keep the system running smoothly while disallowing people from taking advantage of it. Of course, resourceful people will always find a way. It is not uncommon for...
Leaving behind a legacy is less effective when an estate must pay state and federal estate taxes. Smart Asset explains that the executor or administrator of the estate must pay these taxes before distributing the remainder to beneficiaries. While some states do not...
When planning your estate, there are a myriad of factors to include in your last will and testament. This includes a complete list of your property and assets, as well as who you would like to have your property once you pass. Yet, some suggest that leaving a living...
While estate planning is often associated with individuals who are approaching retirement age, even young professionals can benefit from this process. An estate plan comprises various documents that create legal provisions in case the person dies or becomes...
Illinois business owners like you should work on an estate plan. One of the key areas you need to address is business succession. After all, if you want your business to succeed far into the future, this plan is crucial. There are several methods of picking a business...
Thorough estate planning may help a person identify what they want to happen with their assets when they die. It may also help them provide for their own care or their spouse's care as they age. A special needs trust is one of the tools that a person may utilize when...
Whether you have recently lost a loved one or you wish to plan your estate, it is helpful to understand the probate process. Knowing the details behind the process can help you arrange your estate in such a way that will simplify matters for your family. In Illinois,...
Setting up an estate plan is tough for a host of reasons. Unfortunately, some people make poor decisions with regard to their estate plan, leading to unnecessary and avoidable problems down the road. If you are creating an estate plan or considering certain revisions...
