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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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Contesting a Will in Illinois
Posted December 04, 2014

Contesting a Will in Illinois By: Alan G. Orlowsky While around 99 percent of all wills that go through probate pass through without incident, sometimes issues arise surrounding the distribution of assets or other areas within the will. When this happens, the will is deemed “contested.” Only certain people involved in the estate can contest […]

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How to Create a Viable Business Succession Plan
Posted November 10, 2014

How to Create a Viable Business Succession Plan By: Alan Orlowsky Many people spend the majority of their lives creating and building a family business, but very few seriously consider how to pass that business on to the next generation. Family businesses account for over 50 percent of total gross domestic product in the United […]

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