Why Is It Important to have an Estate Plan?
The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
Estate Planning for Blended Families
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
How Does a Business Owner Create an Exit Strategy?
You spend a lifetime building your business, so it’s crucial to have a game plan when it’s time to leave. Being prepared will help optimize the transition from a financial and tax perspective.
What Jackie Kennedy Knew about CLATs and Estate Planning
Jacqueline Kennedy Onassis will long be known for many superlative distinctions: an internationally beloved former first lady of the United States, one of the most influential contributors to the restoration and preservation of the White House and a peerless cultural icon.
Does a Beneficiary have to Pay Taxes on 401(k)?
If you anticipate inheriting a 401(k) from a parent, a spouse or someone else, it’s important to know your options for minimizing tax liability.
The Risks of the Do-It-Yourself Estate Plan
Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
Who Is the Best Person for Executor?
What do these appointments mean to the person(s) named to act? What happens if they fail or decline to act? Can the planning appoint alternative representatives?
Scammers Try to Take Senior for a Ride
Email scammers sent an Uber to the home of an 80-year-old woman who responded to a well-timed email scam, in a bid to make sure she went to the bank and wired money to the fraudsters.
What Happens If Couple Divorce and Own Business?
No one enters a relationship — be it personal or business — thinking it will fail. However, what happens when it does?
Who will Receive Naomi Judd’s Estate?
Naomi Judd’s final will and testament reportedly has some obvious benefactors missing from its pages: the late country singer’s daughters Wynonna and Ashley Judd.