One consideration in any will and/or estate plan is the type of taxes your beneficiaries could potentially face when the time comes. Will they forfeit their inheritance or at least some of it? Will they face taxes that exceed what they receive, or significantly impact their yearly income? It’s … [Read more...] about Inheritance Tax And An Estate Tax In Glenview, IL?
If you have a residence outside of Illinois, you’re probably aware that the state laws surrounding wills and estate plans can be markedly different. If you have a family home in nearby Gary, Indiana, or frequently travel north to Wisconsin, which state law takes precedence if you die … [Read more...] about The “New Illinois Trust Code” For 2020
When a nonprofit is doing any kind of fundraising in Chicago (or the state of Illinois), there are certain regulations that it must follow. One of those is registering with the Illinois Attorney General's Charitable Trust and Solicitations Bureau. An organization that does not register can face … [Read more...] about Exemptions To Nonprofit Fundraising Registration In Chicago
The role of nonprofits has always been to generate social change that helps steer us to a better world. While many nonprofits start with compelling goals and a can-do attitude, it’s usually not enough to keep the organization alive. Sure, it takes money, people, and resources to begin a … [Read more...] about Top Reasons Nonprofits Fail In Chicago, IL
Because the world is still in flux with the lingering effects of the pandemic, estate planning may not be a the top of your list. However, current events make it the best time to pay attention to the so-called “gift tax” so you can take advantage while the maximum limits have been more than … [Read more...] about Estate Planning And The Gift Tax In 2020—What You Should Know