Our Lake in the Hills estate tax attorneys take great pride in their outstanding customer service and affordable rates. We have extensive knowledge in advanced estate planning. We can assist you in eliminating or minimizing estate tax when you pass.
Please contact our friendly
Lake in the Hills Estate Tax Attorneys
at our nearest location to schedule a free consultation:
See below for our other locations. If our office locations are not convenient for you, we are happy to speak with you by phone.
"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 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.
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.
Lake in the Hills estate tax attorney Kevin O'Flaherty discusses what attorneys use to avoid federal and Illinois estate tax.
Our Lake in the Hills estate tax lawyers discuss multiple ways to avoid and minimize federal and Illinois estate tax. The estate tax exemption in Illinois is four million dollars this means that any assets you may possess above four million dollars will be subject to tax when you pass. Luckily our Lake in the Hills estate tax attorney are able to use AB trust to allow spouses to take advantage of one another estate tax exemption. These AB trust are able to effectively raise your exemptions to eight million dollars as a couple.
Additionally, Irrevocable life insurance trust are often used by attorneys to eliminate the death benefit of your life insurance policies from your taxable estate. This article also goes into further detail on the objective of grantor-retained annuity trusts, grantor-retained interests trusts, and grantor-retained unitrust.
In this Learn About Law episode, attorney Kevin O'Flaherty discusses using a living will to provide for end of life instruction.
Our Lake in the Hills estate tax attorneys explain different ways to transfer assets to your revocable living trust. Discussed are the multiple different classes of estates that may include retirement accounts, insurance policies, real estate as well as checking and savings accounts. We also discuss how said assets must be titled to ensure that your estates plan is effective and preserves your assets.
Lake in the Hills estate tax attorney Kevin O'Flaherty explains how to use revocable living trusts to avoid probate in Illinois.
In this article, our Lake in the Hills t estate tax attorneys explain revocable living trust and how to add them into your estate plan to avoid costly and stressful probate. Probate is necessary when real estate is owned outside of a trust, probate can cost from 5% to 10% of your estate in court cost and attorney fees.
Our Lake in the Hills estate tax attorneys will help draft a revocable living trust to make probate unnecessary. Additionally, you can transfer any major assets to the trust at any point during your lifetime to ensure the assets will be dealt with outside of probate.