Estate Planning

Estate Planning Basics and Avoiding Probate With A Living Trust

One of the most important parts of the financial planning process is estate planning. Many people mistakenly believe that estate planning is only necessary for the wealthy.  In reality, a basic estate plan is essential for everyone in order reduce uncertainty, eliminate unnecessary costs, and reduce stress for loved ones after a death. Estate Planning…

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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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Changes That May Warrant An Insurance Review

Life happens, but more specifically, change happens in our lives that affects the building blocks of our well-being.  A few of the building blocks that drive our risk protection needs include lifestyle, health, and income.  While it’s ideal to review your insurance situation annually, it is especially important as these building blocks change. When Should…

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Trust Planning Opportunity and The 65 Day Rule

Trust Planning Advantages It’s not too late to take advantage of planning opportunities for certain trusts for 2015 tax filings. Irrevocable Trusts that do not require the trustee to make distributions of income to the beneficiaries can take advantage of the “65 Day Rule”. This Rule allows trustees to make distributions within 65 days of…

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