The loss of a loved one often leaves you with a long list of tasks, and legal issues may rise to the top very fast. Questions about the estate may surface early, and one of the first issues usually involves probate filing deadlines—many families ask, is there a time limit to file probate in … [Read more...] about Is There a Time Limit To File Probate in Illinois?
Tips for Last Minute Charitable Giving
As we approach the year’s end, you still have two weeks to give to your favorite charity. Remember, however, that any charitable gifts you wish to make must be received by the charity before the end of the year. Here are important items to keep in mind with two weeks left: First, set up a … [Read more...] about Tips for Last Minute Charitable Giving
529 Plan vs. Educational Trust: Which Is Better?
Planning for your child’s education often requires a major financial commitment, and parents frequently look for reliable ways to build funds that support future academic goals. Many families look at 529 plans and educational trusts when comparing the 529 plan vs. educational trust options available … [Read more...] about 529 Plan vs. Educational Trust: Which Is Better?
How a Grantor Retained Annuity Trust Reduces Gift Taxes
A Grantor Retained Annuity Trust, better known as a GRAT, is an estate planning tool that can successfully reduce gift taxes when transferring assets to your future generations. A GRAT removes assets from your estate, potentially lowering gift and estate tax liabilities while allowing beneficiaries … [Read more...] about How a Grantor Retained Annuity Trust Reduces Gift Taxes
Is It a Good Idea To Do Estate Planning?
Estate planning often seems like a tool only for the wealthy, but everyone benefits from having a plan. A complete estate plan ensures your wishes guide asset distribution and protect your loved ones. Estate planning allows you to control your property, prepare for incapacity, and address potential … [Read more...] about Is It a Good Idea To Do Estate Planning?
