Month: January 2018

Under Illinois law, only wills that comply with specific rules are considered valid. For instance, all wills must be in writing, while the testator must be at least 18 years old and have sufficient mental capacity to know what he or she is doing. Finally, the will must be signed by two credible witnesses. To […]

For years there has been talk about doing away with the Federal estate tax. The tax bill, passed in the closing days of 2017, partially achieved that goal for most American taxpayers. The new law increases the amount that a single person can pass during life or at death to $10M. This amount is to […]

Those who leave behind large estates run the risk of getting stuck with significant estate or gift taxes. Fortunately, there are a few ways to avoid this, one of which is to create a family limited partnership (FLP). To learn more about establishing an FLP, you should consider contacting an experienced Evanston estate planning attorney […]