In the article below, our DuPage County estate tax lawyers explain how to take advantage of Illinois laws to enable your estate to minimize or avoid Illinois and federal estate taxes.

The Illinois estate tax exemption currently is $4 million, meaning any assets above this is taxable when you pass.  Our DuPage County estate attorneys though can create and use AB trusts to receive an additional estate tax exemption. Using AB trusts allows the maximum tax exemption for a couple to double from 4 to 8 million dollars.

In addition to AB Trusts, Irrevocable Life Insurance Trusts can be utilized so life insurance policies are removed from your estate's taxable income.  Also discussed in greater detail are objectives of grantor-retained interest trusts, grantor-retained interest trusts and annuity trusts and their benefits to your estate.​

Read the full article by our DuPage County estate tax attorneys about how to use trusts to accomplish your estate planning goals.  

In this article, our DuPage County estate tax attorneys discuss the types of taxes that a family may face when a family member passes away. We explain the difference between final income tax, estate income tax, and estate tax.  We also discuss taxes on both the federal and state level.

Read the full article by our DuPage County estate tax lawyers discuss what types of taxes to expect when a family member passes away.

Our DuPage County estate tax lawyers will assist you in the creation of a revocable living trust that will allow you to avoid probate.

Probate becomes necessary when real estate is maintained outside of a trust.   It can also cost upwards of ten percent of the value of the property in attorney fees and court costs.  We explain the benefits in adding and utilizing revocable living trusts to avoid this process. 

Read the full article by our DuPage County estate tax attorneys on how to avoid probate with Revocable Living Trusts.