Planning for Success with a Team You Can Trust

Estate Taxes in Illinois, Explained

Estate planning can be daunting, especially with taxes complicating matters. Without a solid plan, hefty estate taxes can diminish the legacy you wish to leave for your heirs. An estate plan can act as a bulwark against these taxes, ensuring your loved ones receive the most from your estate.

At North Shore Estate Planning, we have extensive experience with estate planning in Illinois, particularly for North Shore families. Our understanding of local needs allows us to craft tailored solutions that protect your assets. Contact us today to safeguard your family’s future.

The Estate Tax Basics You Need to Know

Estate taxes are levied on the value of an estate after one’s passing. In Illinois, calculating an estate’s value involves summing all assets, including real estate, investments, and personal belongings. Tax rates vary, and what you give to your loved ones might also face gift taxes if transferred before your death.

How to Minimize Estate Taxes

Utilizing a trust is often the best method to shield assets from estate taxes. Another option is strategic gifting, but it requires careful planning and guidance from an attorney. Missteps can lead to legal troubles, especially with the give-year Medicaid look-back. Always consult a lawyer to avoid pitfalls.

Answering Your Questions about Illinois Estate Taxes

Below are answers to some common questions we receive about estate taxes and how they affect your estate planning.

Can I sell my house to my child to avoid estate taxes?

Selling a home to a child can have tax implications. Consult a legal professional for advice.

What’s included in an estate under Illinois laws?

An estate encompasses all assets a person owns at the time of their passing, including properties, investments, and personal items. These assets are usually catalogued in their will.

How do I know how much my heirs will need to pay in estate taxes in Chicago?

Use the Illinois Attorney General’s estate tax calculator for estimates.

Talk to an Estate Planning Attorney for Free

Reach out to North Shore Estate Planning today for a free initial consultation. Call 847-449-8864 or email us to protect your estate effectively.

Practice Areas

Client Testimonials

"You are a perfect consultant!"
– Shirley P.

Recent Blogs

How to make sure your children will not fight over your estate

On Behalf of North Shore Estate Planning | May 20, 2025 | ESTATE PLANNING - Estate Planning

You have worked hard, built a stable life and want to pass it on in peace. The last thing you want is your children falling out over what happens after you pass. One child may feel entitled to more, and another may question how certain decisions were made. When plans...

What do I need to know about estate taxes in Illinois?

On Behalf of North Shore Estate Planning | May 2, 2025 | ESTATE PLANNING - Estate Planning

Putting together an estate plan may feel like checking a box on a to-do list, but when used wisely this task can be a step towards building one’s financial portfolio. This is because putting together an estate plan requires an individual to review their assets and...

Special needs trust: Providing for loved ones with disability

On Behalf of North Shore Estate Planning | Apr 29, 2025 | ESTATE PLANNING - Trusts

Planning for the future of a loved one is essential but doing it for someone with a disability is even more critical. You want to make sure they are taken care of — for now and the future. That is where a special needs trust (SNT) comes in. With it, your loved ones...