Executors have many important responsibilities when it comes to administering a testator’s estate. For this reason, anyone who is considering creating or altering a will should take great care when assigning someone to be an executor. Choosing an irresponsible person to be the executor of your estate can have serious consequences, so if you are […]
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Estate planning can be a complex and time-consuming process that requires compliance with a series of procedural rules. Failing to comply with these regulations can lead to a will being contested, so if you live in Illinois and want to ensure that your own will or trust is created in accordance with state law, it […]
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Many people believe that estate planning is a one-time event and that after creating a trust or drafting a will, a testator’s work is done. In reality, testators are urged to monitor their wills and trusts regularly to ensure that they reflect any changes in the testator’s circumstances. If you live in Illinois and are […]
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In Illinois, the executors of estates that are worth more than $4 million are required to pay an estate tax. This means that even though an estate isn’t large enough to owe the federal estate tax, which is currently set at $11 million, it may still be required to pay state taxes to Illinois. Valuing […]
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