Chicago Estate Tax Attorneys | Estate Tax Lawyers, Chicago

Chicago estate tax lawyers

Our experienced and affordable Chicago estate tax attorneys will handle your advanced estate tax planning that assists you in eliminating or minimizing estate taxes from your estate. We assist with the creation of detailed estate plans that minimize Chicago estate taxes but also can help with existing estate plans to mitigate costs.

Our

Chicago Estate Tax Attorneys

Provide Excellent Service in:

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Take the Next Step: Schedule a Free Consultation With Our

Chicago Estate Tax Attorneys

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What to Expect From a Consultation

The purpose of a free consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us. Although most consultations are complimentary, some may carry a charge depending on the type of matter and meeting location.

Please contact our friendly

Chicago Estate Tax Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Chicago

10 South Riverside Plaza Ste. 1925A Chicago, Illinois 60606
Chicago
,
IL
60606
Get Directions

See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.  ​​​

Hours: 
9 am - 5 pm, Mon-Fri

Our  Office Locations: 

Downers Grove Attorneys, Downers Grove Attorney

Downers Grove

5002 Main St, Ste. 201 Downers Grove, IL 60515

Naperville Attorney, Naperville Attorneys

Naperville

105 Jackson Avenue, Ste. 4b Naperville, IL 60540

Elmhurst Lawyer, Elmhurst Lawyers

Elmhurst

​110 E. Schiller Street, Ste. 220B ​Elmhurst, IL 60126

Lake in the Hills Attorneys, Lake in the Hills Attorney

Lake in the Hills

8411 Pyott Road, Ste. 107, ​Lake in the Hills, IL 60156

Tinley Park Attorney, Tinley Park Attorneys

Tinley Park

​16557 Oak Park Avenue, Ste. B, Tinley Park, IL 60477

Chicago Attorney, Chicago Attorneys

Chicago

10 South Riverside Plaza Ste. 1925A Chicago, Illinois 60606

St. Charles Attorneys, St. Charles Lawyers

St. Charles

210 S Fifth St, Ste. 107B, St. Charles, IL 60174

Here's What Our Clients Have to Say:

John Paul Clancy
Says...

"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."

Kevin Sender
Says...

"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."

Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!

An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.

DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
John Paul Clancy
Says...
"Kevin and his firm, O'Flaherty Law, are friendly, efficient, knowledgeable and professional. Kevin is a master at bringing people together and sharing ideas."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Kevin Sender
Says...
"Kevin O'Flaherty and his team at O'Flaherty Law are among the friendliest and easiest to work with attorneys I've dealt with. I would suggest them to any friends or business associates."
DuPage Family Law AttorneyDowners Grove Estate Planning Attorney
Mike Stehlik
Says...
"Kevin and his team are my "Go To" resource for clients that need estate planning"
Kevin Koc
Says...
Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
Says...
An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
Says...
Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.
Chicago estate tax planning attorney

Meet Our Owner

Kevin O'Flaherty oversees all legal matters and is actively involved in making sure every client's case, big or small, is handled with excellence and attention to detail. He is available to contact through phone and email and his rates are available upon request.

Click Here for Videos, Podcasts, and Articles by Our

Chicago Estate Tax Attorneys

Chicago Estate Tax Attorneys | Estate Tax Lawyers, Chicago

Or Continue Scrolling Below to Browse some of our Most Helpful Articles

How to Avoid Estate Taxes in Chicago

Chicago estate tax lawyers

In this Learn About Law podcast & videoblog, Chicago estate tax attorney Kevin O'Flaherty of O'Flaherty Law explains estate tax and discusses some tools used to avoid it or minimize it.

Chicago estate tax lawyers

In this article, our Chicago estate tax attorneys discuss some of the tools available that help to reduce taxes in Chicago estates by using irrevocable trusts. Federal and state estate taxes are placed on the assets of a deceased individual over and above that individual’s lifetime gift and estate tax exclusion limit.  

Someone who seeks to reduce the amount of taxable assets in their taxable estate can transfer ownership of existing life insurance policies to an irrevocable trust or create the trust and transfer assets and money into it. For more information how irrevocable trusts help to reduce or avoid estate taxes click on the link below.

Read more by our Chicago estate tax attorneys on bout how to use irrevocable life insurance trusts for your Chicago estate tax planning goals.


Using Gifts to Reduce Chicago Estate Taxes

In this video, Chicago estate tax attorney Kevin O'Flaherty discusses the tax implications of gifts within an estate.

estate tax attorney Chicago

Gift taxes are taxes levied on certain gifts made. These taxes are applied to the giver and not the recipient of the gift. These taxes are applied only if it is over the federal exclusion amount and the person giving it has used their lifetime exclusion. In this article, our Chicago estate tax attorneys explain gift taxes in Illinois and also on the federal level and answer questions including:

  • What is gift tax
  • What is the gift tax annual exclusion amount?
  • What is a “present interest gift” for gift tax purposes?
  • What is lifetime estate and gift tax exclusion limit?
  • Does Illinois have a gift tax?
  • Are transfers to trusts subject to gift tax?
  • When is a gift tax return required? and,
  • Are donations to charities subject to gift tax?

Read the full article by our Chicago estate tax attorneys on how gifts affect tax obligations in Chicago estates.

Revocable Living Trusts to Avoid Chicago Probate Court

In this video, Chicago estate tax attorney Kevin O'Flaherty explains Grantor Retained Income Trusts, Grantor Retained Annuity Trusts, and Grantor Retained Unitrusts

estate tax lawyer illinois

In this article, our Chicago estate tax attorneys explain:

  • Grantor Retained Income Trusts
  • Grantor Retained Annuity Trusts
  • Grantor Retained Unitrusts

Each of these are similar types of irrevocable trusts that can be used in sophisticated estate plans that assists in receiving assets from a taxable estate while also allowing it to receive a monetary benefit from assets during the plans' lifetime.

Read the full article by our Chicago estate tax attorneys on using GRITS, GRATS, and GRUTS for estate tax planning in Chicago. 

Further Reading From Our 

Chicago Estate Tax Attorneys

estate tax attorney Chicago