Looking at the Latest Federal Tax Plan

On November 2nd, Congress unveiled its latest proposal for the sweeping tax code reform that President Trump promised during his campaign. This plan is far from a finished product and has not made it to budget analysts or to the Senate. However, the GOP in the House and the Senate seem motivated to prove that  … Read more

Estate Tax Relief for Surviving Spouses

Marriage is a sacred bond. You have made vows to your spouse, who is your partner in life and is your most important relationship. You have worked hard together, raised children together, and planned your lives together. That is why when people plan their estates, the first priority is often to make sure that their  … Read more

Estate Tax Audits

Estate tax returns have become relatively rare over the past decade. Since the early 2000’s, the estate tax exemption has been quickly rising, resulting in far fewer estates having to file estate tax returns. Because the number of estate tax returns has been dropping, the IRS has had a statistically greater opportunity to scrutinize the  … Read more

Understanding Estate Taxes in Illinois

Planning for federal estate taxes with a large estate can be incredibly challenging. Attorneys spend years learning and mastering the various approaches to helping clients maximize their estates and leveraging tax advantages. This is so that their loved ones can benefit as much as possible. The state of Illinois adds an additional layer to this  … Read more

How Not To Plan Your Estate

  Estate planning combines several things that people dread, in no particular order: (1) accounting for ALL of your money, assets, and debts; (2) facing your own mortality; and (3) sitting for a prolonged amount of time with a lawyer. In all seriousness, there are some proven mistakes that I have seen over the years  … Read more

An Overview of Estate Tax Returns

  Whether you are estate planning or trying to petition an estate through a probate court, taxes are constantly at the forefront of your thoughts. Estate taxes are taxes collected on the transfer of a deceased person’s estate. There is a federal estate tax levied by the IRS, and there are several states that collect  … Read more