Lincoln Park Estate Tax Attorneys | Estate Tax Lawyers, Lincoln Park

Lincoln Park Estate Tax Attorneys | Estate Tax Lawyers, Lincoln Park

Our Lincoln Park estate tax attorneys offer solutions for your estate planning, with advising on how to avoid estate taxes to lessen burdens in this hard time.

Our

Lincoln Park Estate Tax Attorneys

Provide Excellent Service in:

See if you qualify for a Tax Appeal

You Don't Have to Leave Your Home For Your

Estate Tax

Matter

In this video, attorney Kevin O'Flaherty describes ways you can receive legal services from the comfort of home.

Take the Next Step: Schedule a Free Consultation With Our

Lincoln Park Estate Tax Attorneys

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

Lincoln Park Estate Tax Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Chicago

1941 N. Elston, Ste. A
Lincoln Park
IL
60642

Phone:

(312) 736-1384

E-Mail:

chicago@oflaherty-law.com

9 am - 5 pm Mon - Friday
After 5 pm by Appointment
11 am - 3pm Saturday & 11 am - 2 pm Sunday by Appointment

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

Some of Our Accomplishments

Naperville attorney
DuPage County Probate Attorney
Learn More About Our Firm
Lincoln Park estate tax planning attorneys

Lincoln Park Estate Tax Attorneys

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

Lincoln Park Estate Tax Attorneys

Lincoln Park Estate Tax Attorneys | Estate Tax Lawyers, Lincoln Park

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

Avoiding Estate Taxes in Lincoln Park

In this article, our Lincoln Park estate tax attorneys uncover some of the tools available that help to reduce taxes on 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.  

An individual who seeks to reduce the amount of taxable assets in their estate can transfer ownership of existing life insurance policies to an irrevocable trust or create the trust and transfer assets and money into it.


In this video, Lincoln Park estate tax attorney Kevin O'Flaherty of O'Flaherty Law explains estate taxes in Lincoln Park and discusses some tools used to minimize or avoid them.

Who is Responsible for Paying Estate Taxes?

In this video, our Lincoln Park estate tax attorneys go into depth on what estate tax is and who has to pay these taxes. Estates are not always subject to estate tax. In Illinois, if your estate is under 4 million dollars you are not subject to state tax returns. If you do have more than 4 million dollars in your estate, then taxes on your estate are due nine months after death. The executor is the one responsible for paying for estate taxes


In this video, Lincoln Park estate tax attorney Kevin O'Flaherty discusses who is responsible for paying estate taxes.

Revocable Living Trusts to Avoid Probate in Lincoln Park

In this article, our Lincoln Park estate tax attorneys explain how to avoid estate tax in a revocable living trust. Owning property in a revocable living trust removes that property from your estate for the purpose of probate, but it does not remove the property from your estate for the purpose of estate tax. Your estate for the purpose of estate tax includes property owned by a revocable living trusts, retirement accounts, and death benefits of life insurance policies that you own. Revocable Living Trusts can be used to allow married couples to take advantage of one another’s estate tax exemptions, essentially raising the threshold at which the couple has to worry about Illinois estate tax from $4 million to $8 million in assets.

In this video, Lincoln Park estate tax attorney Kevin O'Flaherty discusses who is responsible for paying estate taxes.

Further Reading From Our 

Lincoln Park Estate Tax Attorneys