Estate planning often raises questions about how property passes to heirs and how taxes affect that process. One option available involves an irrevocable life insurance trust, also called an ILIT. This trust holds life insurance policies and controls how the proceeds reach your heirs. We explain … [Read more...] about Do You Need an Irrevocable Life Insurance Trust?
What Happens If You Don’t File a Will Within 30 Days In Illinois?
Filing a will in Illinois within 30 days of a person’s death is required by law. What happens if you don't file a will within 30 days in Illinois? The law may create complications for you and your family. You need to know the deadlines, the legal requirements, and the penalties for late will filing … [Read more...] about What Happens If You Don’t File a Will Within 30 Days In Illinois?
How Much Does an Estate Have to Be Worth to Go to Probate in Illinois
You need to know when an estate must pass through probate in Illinois. This process can involve court supervision, strict legal steps, the involvement of an estate planning attorney in Chicago, IL, and delays for heirs. Understanding how much does an estate have to be worth to go to probate in … [Read more...] about How Much Does an Estate Have to Be Worth to Go to Probate in Illinois
How to Avoid Estate Tax in Illinois
Managing your estate protects your financial future and preserves your family's inheritance. Estate taxes reduce the value of your estate in Illinois and limit what your heirs receive. We explain how to avoid the estate tax in Illinois through strategies that align with your wishes and financial … [Read more...] about How to Avoid Estate Tax in Illinois
Inheritance Planning Tips
A lifetime of hard work, attention to detail, and diligent money management made you wealthy. Still, you rest easy at night knowing that all that you have will go to the next generation of your family when the time comes. Being able to pass on wealth or assets is a great honor for many people, … [Read more...] about Inheritance Planning Tips
