Protect Your Assets From Estate Taxes
One of the most important aspects of estate planning is protecting assets from estate taxes. Limiting exposure to estate taxes preserves assets, leaving more for heirs or other recipients consistent with your wishes. At Monahan Law Group, LLC, we offer comprehensive tax strategies to protect your estate from state and federal estate taxes. We assist individuals in the Chicago area and throughout Illinois.
Experienced Attorneys Protecting Your Estate
Many tools are available to protect your estate from being impacted by taxes. Which ones you use, however, depends on what types of assets you have, their value and your goals.
Our estate planning lawyers will assess your estate and assets, listen to your concerns and recommend an approach that is most likely to safeguard your estate from taxes. Options we might suggest include:
- Gifting strategies, which sometimes include gifting a portion of your estate to loved ones while you are still living
- Placing some or all of your estate into trusts
- Giving a portion of your estate to charity
When suggesting tax strategies, our attorneys will assist you in creating a plan that is practical for your age, wealth and other important factors. There is no one-size-fits-all approach to tax planning. We will strive to find a solution that best protects your most precious assets.