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This article will discuss the CARES Act's current state and how it impacts student loan debt, and the potential for loan forgiveness. We will answer the following questions:
September 5, 2024
For many, estate planning is something you do so that when you’ve reached your golden years you can rest easy knowing your assets will be handled properly after you pass on. None of us wants to think of the “plan” in estate planning as something that will come to fruition in the next few months. But we can’t ignore what’s going on around us, especially those in the high risk categories including the elderly and those with multiple comorbidities.
September 5, 2024
In this article we will explained how irrevocable trusts are used for estate tax planning purposes and how irrevocable trusts work with respect to gift taxes. We explain how estate and gift tax work both federally and in Illinois. We answer the questions, what is a trust?, how do irrevocable trusts work?, are assets owned by an irrevocable trust subject to estate tax?, what are “Crummey Powers” for irrevocable trusts?, how are irrevocable trusts used to minimize estate tax?, and what are the advantages of irrevocable trusts for estate planning?
September 5, 2024
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