How Does The Illinois Estate Tax Affect You?

As we approach year end, it is important to review how your family may be impacted by an Illinois tax that does not receive much media attention: the Illinois estate tax. Illinois is one of twelve states to have its own estate tax separate from the federal estate tax. Estates that are exempt from the…

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Trust Planning Opportunity and the 65 Day Rule

trust planning 65 day rule

It’s not too late to take advantage of planning opportunities for certain trusts for 2017 tax filings. Irrevocable Trusts that do not require the trustee make distributions of income and principal to the beneficiaries can take advantage of the “65 Day Rule”. This Rule allows trustees to make distributions within 65 days of the new…

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