Chicago is home to some of the most prosperous estates in Illinois; and rightfully, many of its inhabitants are interested in making sure their wealth is passed on how and to whom they desire. Streamlining this process and making it as clear and indisputable as possible is the role of estate … [Read more...]
Can a Living Trust Affect My Child’s FAFSA for a Chicago College or University?
Funding your child’s higher education can be daunting, and every parent waits with bated breath to see how much the Free Application for Federal Student Aid (FAFSA) might help chip away at the monstrous bill. But the superficially “straightforward” process of reporting your assets and income can be … [Read more...]
ESTATE PLANNING AND TAX NEWS, YOU CAN USE – FALL, 2018
As we enter the 4th quarter, you will need to start planning for a new set of income tax rules. The Tax Cuts and Jobs Act was the most sweeping tax reform in 30 years. In this issue, we will go over many of the rules affecting … [Read more...]
IMPORTANT YEAR END PLANNED GIFTS
With nonprofits now in the midst of their year-end fundraising campaigns, make sure you don’t forget about two important planned gifts that can make a big tax difference for donors. Gifts of appreciated securities – a donor can give you appreciated securities they have owned for one year or … [Read more...]
Setting Up a Power of Attorney in Illinois
The Power of Attorney is one of the more important estate planning tools that you can have. Through this legal document, you'll appoint a person, typically a close relative, to help handle your affairs or take care of what you're not able to do (when you're not able to do it). Generally, a power of … [Read more...]