In Illinois, inheritance tax is imposed on the transfer of property from a decedent to their heirs or beneficiaries. Unlike estate taxes, which are levied on the estate itself, inheritance taxes are imposed on the individual recipients of the inherited property. The amount of tax owed depends on various factors, including the value of the […]
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Contesting an estate can be a complex and emotionally charged process, often fraught with misconceptions and misunderstandings. In Illinois, individuals may seek to contest a will or estate plan for various reasons, ranging from concerns about the validity of the document to questions about the distribution of assets. However, navigating the legal landscape of estate […]
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In today’s unpredictable world, safeguarding your assets is essential for financial security. Contrary to common belief, estate planning isn’t just for the affluent; it’s a wise decision for anyone seeking to ensure their hard-earned assets are distributed according to their wishes. One powerful tool for achieving this goal is establishing a trust, a legal arrangement […]
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In Illinois, as in many other states, the estate planning process is crucial for individuals who wish to protect their assets and ensure their wishes are fulfilled after their passing. One of the primary concerns for many individuals regarding estate planning is how to keep their home from becoming part of a contested estate. By […]
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