Our Naperville estate tax attorneys discuss ways to avoid or minimize Illinois and federal estate tax in this supplemental companion article.

In it, we explain how revocable living trusts can be used to allow spouses to take advantage of one-another's estate tax exemption, essentially doubling the threshold asset amount at which each spouse has to worry about estate tax.  We also explain how to use Irrevocable life insurance trusts to remove the death benefit of your life insurance policy from your taxable estate. ​

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

In this article, our Naperville estate tax attorneys discuss how to know when you must pay estate tax in an inheritance.

In short, an estate may be subject to federal and state taxes depending on the amount of assets within the estate when it is inherited. We go over the different types of potential taxes for various common estate plan assets, and help you understand what you can do to minimize your estate tax burden.

Read the full article by our Naperville estate tax attorneys explaining how you know when you need to pay estate tax. 

In this article, our Naperville estate tax attorneys discuss revocable living trusts and explain how we can use them as part as your estate plan.

Revocable Living Trusts are used to ensure that your estate does not go through probate when you pass. Probate is necessary for most individuals who own real estate outside of a trust. Probate is a year-long court case that can cost you 5% to 10% of your estate in attorney fees and court cost. We can help you draft a revocable living trust that will make probate unnecessary. This will allow you to transfer your major assets to the trust in your lifetime to insure that that they will be dealt with outside of probate instantly when you pass, without the need to pay an attorney. ​

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