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Special Needs Trusts in Illinois
Posted January 21, 2015

Establishing a Special Needs Trust in Illinois By Alan G. Orlowsky In decades past, parents with disabled children only had two options for their care: disinherit the child so that they could receive government benefits or leave enough money in a traditional trust and hope that the money is used properly for care. However, people […]

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Maintaining Control of Your Business Through Estate Planning
Posted January 14, 2015

Maintaining Control of Your Business Through Estate Planning By Alan G. Orlowsky In estate planning, there is more to do with a family business than simply create a succession plan. In fact, in some cases, over-planning a business succession can lead to younger generations or others taking control of the business way before an owner […]

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IRS Raises Limit of Lifetime Gifts for 2015
Posted January 02, 2015

IRS Raises Limit of Lifetime Gifts for 2015 By Alan G. Orlowsky Recently, the Internal Revenue Service announced an increase in the lifetime limit of tax-free transfers during life or at death. This year, the amount known as the basic exclusion was set at $5.34 million. For 2015, the basic exclusion will be increased to […]

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What to Do if Your Parent or Spouse is Incompetent
Posted December 11, 2014

What to Do if Your Parent or Spouse is Incompetent By Alan G. Orlowsky Taking over a loved one’s financial affairs can be tricky. Let’s take a look at what you to do if your parent or spouse is incompetent. Ellen was alarmed when her 83-year-old husband Barry hired a contractor to repair the couple’s […]

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