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Kevin's firm handled setting up my will and trust recently. They took something that seemed intimidating and made it easy to understand. I've also referred a couple clients to Kevin - he's trustworthy, approachable and very fairly priced.
"I've used Kevin and his firm's services since 2011. He gave undivided attention to my cases, advised me on different options and..."
"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"
Choosing the right law firm can change everything. At O’Flaherty Law, we pride ourselves on transparency, responsiveness, and personalized care. See how we compare to the industry standard.
Our Downers Grove estate tax attorneys will amaze you with our above-and-beyond client service and affordable rates. We have extensive experience in advanced estate planning and will help you minimize or eliminate estate tax when you pass.
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Please contact our friendly lawyers to Schedule a Consultation.
The purpose of a 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.
Schedule a ConsultationLearn More About The Firm4949 Forest Ave., Ste. 1B
Downers Grove, IL 60515
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I am personally committed to ensuring that each one of our clients receives the highest level of client service from our team. Our mission is to provide excellent legal work in a cost-effective manner while maintaining open lines of communication between our clients and their attorneys. Many of our clients are going through difficult times in their lives when they reach out to us. They should feel comfortable leaning on the experience and knowledge of our attorneys as their counselors and advocates. We are here to help!
In this article, our Downers Grove estate tax lawyers explain ways to minimize and avoid federal and Illinois estate tax.
The Illinois estate tax exemption is $4 million. This means that any assets that you possess above $4 million will be taxable when you pass. However, attorneys can use AB trusts to allow spouses to take advantage of each other's estate tax exemptions, which can effectively raise your exemption as a couple to $8 million.
Irrevocable life insurance trusts are used by attorneys to remove the death benefit of your life insurance policies from your taxable estate.
The article goes on to describe the functions of grantor-retained annuity trusts, grantor-retained interests trusts, and grantor-retained unitrust.
In this article, our Downers Grove estate tax attorneys discuss the different types of taxes that a trustee or executor must file when managing an estate. We discuss the difference between a final federal and state income tax return, a federal or state estate income tax return, and federal and state estate tax.
In this article, our Downers Grove estate tax attorneys describe revocable living trusts and how they can be used as part of your estate plan to avoid the stressful and costly process of probate court.
Probate may cost 5% to 10% of your estate in attorney fees and court costs. This process is necessary for most people who own real estate outside of a trust. Our Downers Grove estate tax attorneys will assist you by drafting a revocable living trust that makes probate unnecessary. You can then transfer your major assets to the trust during your lifetime to insure it be dealt with outside of probate.
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