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Oflaherty Law, Illinois Attorneys

Scott County Estate Tax Attorneys | Estate Tax Lawyers, Scott County

Scott CountyScott County estate tax lawyers

Our experienced and affordable Scott County estate tax attorneys will handle your advanced estate tax planning that assists you in eliminating or minimizing estate taxes from your estate. We assist with the creation of detailed estate plans that minimize Scott County estate taxes but also can help with existing estate plans to mitigate costs.

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Take the Next Step: Schedule a Free Consultation With Our

Scott County Estate Tax Attorneys

irrevocable life insurance trusts Scott County

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

Scott County Estate Tax Attorneys

at our nearest location to schedule a free consultation:

O'Flaherty Law of Davenport

201 W. 2nd Street Ste. 400A
Scott County
,
IL
52801
Get Directions

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

Hours: 
9 am - 9 pm, Mon-Fri
Saturday 9 am- 9 pm & Sunday 12 pm - 8pm
by appointment

Some of Our Accomplishments

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Here's What Our Clients Have to Say:

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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.

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Kevin Koc
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Kevin O'Flaherty was instrumental during the purchase process of my new house. I highly recommend him and the entire firm!
Stephen Petersen
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An excellent client experience, I recommend O'Flaherty Law to all of my clients that have a need for consultation in family law.
Troy Golden
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Kevin is an excellent attorney. He helped me incorporate by business and provides legal counsel as need. I highly recommend him.
Scott County estate tax planning attorney

Scott County 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

Scott County Estate Tax Attorneys

Scott County Estate Tax Attorneys | Estate Tax Lawyers, Scott County

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

How to Avoid Estate Taxes in Scott County

Scott CountyScott County estate tax lawyers

In this Learn About Law podcast & videoblog, Scott County estate tax attorney Kevin O'Flaherty of O'Flaherty Law explains estate tax and discusses some tools used to avoid it or minimize it.

Scott CountyScott County estate tax lawyers

In this article, our Scott County estate tax attorneys discuss some of the tools available that help to reduce taxes in Scott County 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.  

Someone who seeks to reduce the amount of taxable assets in their taxable estate can transfer ownership of existing life insurance policies to an irrevocable trust or create the trust and transfer assets and money into it. For more information how irrevocable trusts help to reduce or avoid estate taxes click on the link below.

Read more by our Scott County estate tax attorneys on bout how to use irrevocable life insurance trusts for your Scott County estate tax planning goals.


Using Gifts to Reduce Scott County Estate Taxes

In this video, Scott County estate tax attorney Kevin O'Flaherty discusses the tax implications of gifts within an estate.

estate tax attorney Scott County

Gift taxes are taxes levied on certain gifts made. These taxes are applied to the giver and not the recipient of the gift. These taxes are applied only if it is over the federal exclusion amount and the person giving it has used their lifetime exclusion. In this article, our Scott County estate tax attorneys explain gift taxes in Iowa and also on the federal level and answer questions including:

  • What is gift tax
  • What is the gift tax annual exclusion amount?
  • What is a “present interest gift” for gift tax purposes?
  • What is lifetime estate and gift tax exclusion limit?
  • Does Illinois have a gift tax?
  • Are transfers to trusts subject to gift tax?
  • When is a gift tax return required? and,
  • Are donations to charities subject to gift tax?

Read the full article by our Scott County estate tax attorneys on how gifts affect tax obligations in Scott County estates.

Revocable Living Trusts to Avoid Chicago Probate Court

In this video, Scott County estate tax attorney Kevin O'Flaherty explains Grantor Retained Income Trusts, Grantor Retained Annuity Trusts, and Grantor Retained Unitrusts

estate tax lawyer Scott County

In this article, our Scott County estate tax attorneys explain:

  • Grantor Retained Income Trusts
  • Grantor Retained Annuity Trusts
  • Grantor Retained Unitrusts

Each of these are similar types of irrevocable trusts that can be used in sophisticated estate plans that assists in receiving assets from a taxable estate while also allowing it to receive a monetary benefit from assets during the plans' lifetime.

Read the full article by our Scott County estate tax attorneys on using GRITS, GRATS, and GRUTS for estate tax planning in Scott County. 

Further Reading From Our 

Scott County Estate Tax Attorneys

estate tax attorney Scott County

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