In the article below, we 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 dollars, meaning any assets above this is taxable when you pass.  Our Tinley Park 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 Tinley Park trust attorneys about how to use trusts to accomplish your estate planning goals.  

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Our Tinley Park estate tax lawyers discuss the options available to transfer assets into a revocable living trust.  We discuss types of estates that include checking, savings, retirement accounts, insurance policies and real estate and how they must be titled to so your assets are preserved and your plan effective.

Read the full article by our Tinley Park trust attorneys explaining the differences between wills and trusts. 

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.

Our Tinley Park estate tax lawyers will assist you in the creation of a revocable living trust that will allow you to avoid probate.  After it's creation, monetary assets and property can be transferred to your trust so that all of your assets avoid probate.

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