As part of a tax-minimizing strategy for your Illinois estate, you can set up an irrevocable life insurance trust (ILIT) to protect your assets. You can provide your beneficiaries with certain protections while reducing the value of your taxable estate by purchasing...
Medicaid is a government program that pays the bills for most people in long-term care. Qualifying for Medicaid, however, requires that you have next to nothing left in terms of income or assets. In Illinois and other states, the system forces you to spend your life...
Illinois residents with significant investments often look for ways to shelter their profits. For many years, a Clifford Trust was a means to reduce federal taxes on income from high-net-worth assets. However, changes in the tax law reduced the popularity of this type...
If you want to take care of estate planning in Illinois, you have many ways to accomplish this task. Understandably, most people want to complete the estate planning process quickly. That's why some people choose to distribute their assets through a taxable-on-death...