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Lincoln Park Estate Tax Attorneys

Our highly-skilled Lincoln Park estate tax attorneys will thoroughly manage your advanced estate tax planning needs to help you minimize, or potentially eliminate estate taxes from your estate. Not only can we assist you in customizing a new plan aimed at reducing your estate taxes but we can also can help with your existing estate plans in order to further mitigate costs.
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Smiling womanAttorney Kevin O'Flaherty

"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"

Top 3 Qualities to look for in Your Attorney

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We believe your attorney should not speak in legalese

Finding an attorney who is a “real person” can be difficult. Many attorneys surround themselves almost exclusively with other attorneys and are accustomed to speaking in ivory tower legalese.  You should be able to connect with your attorney on a personal level, and he or she should speak to you in plain language that you can understand.  You will be working very closely with this person on issues that are very important to you. It is important that he or she be down-to-earth and someone that you connect with.

We believe your attorney should be accessible

The most common complaint that clients have of their attorneys is that the attorney is unreachable, does not communicate with them regularly, or does not promptly return your calls.  Your attorney should reach out to you about your case regularly and respond within 24 hours to calls and e-mails.  An open line of communication between you and your attorney is essential to building trust.

We believe your attorney should be realistic with you about costs and outcomes

Your attorney’s goal should not be to win at all costs.  Rather, it should be to achieve a favorable outcome for you as efficiently as possible.  It is important that your attorney set realistic expectations at the outset as to the costs you should expect, the concerns that the attorney has about the outcome of your case, and the length of time that you should expect your case to take.

Regardless of the nature of your case, we have an experienced attorney who will focus on your individual needs. Our team of attorneys works closely together, bringing each of their different fields of experience to bear in order to optimize our client care.

Client Testimonials

Christi M.

Kevin's firm handled setting up my will and trust recently. They took something that seemed intimidating and made it easy to understand. I've also referred a couple clients to Kevin - he's trustworthy, approachable and very fairly priced.

Marvin

"I've used Kevin and his firm's services since 2011. He gave undivided attention to my cases, advised me on different options and..."

Rachel B.

"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"

More information about our Lincoln Park Estate Tax Attorneys

Our highly-skilled Lincoln Park estate tax attorneys will thoroughly manage your advanced estate tax planning needs to help you minimize, or potentially eliminate estate taxes from your estate. Not only can we assist you in customizing a new plan aimed at reducing your estate taxes but we can also can help with your existing estate plans in order to further mitigate costs.

Expertise Best Child Support Lawyers in Chicago 201710 Best 2016 Client Satisfaction American Institute of Family Law AttorneysAvvo Clients' Choice 2016 DivorceRising Stars Kevin P. O'Flaherty SuperLawyers.com10 Best Law Firms 2018 Client Satisfaction American Institute of Family Legal Counsel Attorneys Estate Planning Law40 under forty

Contact Us

Please contact our friendly lawyers to Schedule a Consultation.

(312) 736-1384
chicago@oflaherty-law.com

What to Expect From a Legal Consultation

The purpose of a consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us.

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Location

Office Address

1941 N. Elston Ave., Ste. A

Chicago, IL 60642

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Hours of Operation

Monday
9:00am - 6:00pm
Tuesday
9:00am - 6:00pm
Wednesday
9:00am - 6:00pm
Thursday
9:00am - 6:00pm
Friday
9:00am - 6:00pm
Saturday
Closed
Sunday
Closed

Attorneys

Meet the Owner

I am personally committed to ensuring that each one of our clients receives the highest level of client service from our team.  Our mission is to provide excellent legal work in a cost-effective manner while maintaining open lines of communication between our clients and their attorneys.  Many of our clients are going through difficult times in their lives when they reach out to us.  They should feel comfortable leaning on the experience and knowledge of our attorneys as their counselors and advocates.  We are here to help!

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- Attorney Kevin O'Flaherty, Owner

Further Reading from our Lincoln Park Estate Tax Attorneys

Avoiding Estate Taxes in Lincoln Park

In this article, our Lincoln Park estate tax attorneys uncover some of the tools available that help to reduce taxes on Chicago estates by using irrevocable trusts. Federal and state estate taxes are placed on the assets of a deceased individual over and above that individual’s lifetime gift and estate tax exclusion limit.  

An individual who seeks to reduce the amount of taxable assets in their estate can transfer ownership of existing life insurance policies to an irrevocable trust or create the trust and transfer assets and money into it.

Read more by our Lincoln Park estate tax attorneys on bout how to use irrevocable life insurance trusts for your Lincoln Park estate tax planning goals.


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Using Gifts to Reduce Lincoln Park Estate Taxes

Gift taxes are taxes levied on certain gifts made. These taxes are applied to the giver and not the recipient of the gift. These taxes are applied only if it is over the federal exclusion amount and the person giving it has used their lifetime exclusion. In this article, our Lincoln Park estate tax attorneys outline gift taxes in Illinois, as well as on the federal level, and answer questions including:

  • What is gift tax?
  • What is the gift tax annual exclusion amount?
  • What is a “present interest gift” for gift tax purposes?
  • What is lifetime estate and gift tax exclusion limit?
  • Does Illinois have a gift tax?
  • Are transfers to trusts subject to gift tax?
  • When is a gift tax return required? and,
  • Are donations to charities subject to gift tax?

Read the full article by our Lincoln Park estate tax attorneys on how gifts affect tax obligations in Lincoln Park estates.

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